Real Estate Maui Hawaii Blog

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New Home Sales Highest in Seven Years

New home sales have hit a seven-year high for the nation.
April 03, 2015

New Home Sales Highest in Seven Years

Based on a recent report from the Census Bureau, new single-family homes have spiked to their highest level in seven years. This is encouraging news, not only for the health of the real estate market, but for the construction industry, which is an important source of jobs here on Maui.

The seasonally adjusted annual rate of new home sales was 539,000 in February, which was up 500,000 in January. What's more impressive is that this was a 25 percent increase compared to February of 2014. A 25 percent gain in the national average is no small feat. Unlike statistics based on Maui or the state of Hawaii, the sample size is large enough to provide steady, reliable information. As you've probably observed if you follow real estate statistics on the island, a few sales here and there can swing the percentages quite a bit, given our small market.

The report also revealed that the median sales price for new homes was $275,500 in February, whereas the average sales price was $341,000. The median is generally the preferred statistic for the Maui real estate market, just as it is elsewhere. That's because averages can be strongly influenced by a relatively small number of luxury, multi-million dollar sales.

Again, this is a national report. The Maui real estate market is a different story, when it comes to prices. The Realtors Association of Maui provides our local statistics, but they don't include new homes statistics in their monthly report. If you are interested, the median cost of a single-family home in Maui County was $558,625 in February.

As always, if you need assistance with your Maui home search, you'll find our contact information at the bottom of the page. Mahalo!

Blogs for April 2015

Hawaii Capable of Running on 100 Percent Clean Energy

Posted on April 24, 2015
Hawaii Capable of Running on 100 Percent Clean Energy

The Environmental Council Annual Report for 2014 has revealed that Hawaii is capable of generating all its electrical power and transportation fuels from renewable energy, which will likely lead to new goals that reflect that potential. Where transportation is concerned, the report… Continue Reading

Maui Home Sales Spike in March

Posted on April 17, 2015
Maui Home Sales Spike in March

The Realtors Association of Maui has recently released its monthly real estate statistics report for the county. Looking into the trends revealed in the report is a great way to stay abreast of changes in the market for Maui real estate buyers and sellers alike.… Continue Reading

New Kahului Airport Development

Posted on April 10, 2015
New Kahului Airport Development

For those of you who are on the island scouting out Maui real estate, you may be interested to know about the upcoming changes to Kahului Airport. We're about to see some major development that will involve a consolidated car rental facility on a 17-acre plot to… Continue Reading

New Home Sales Highest in Seven Years

Posted on April 03, 2015
New Home Sales Highest in Seven Years

Based on a recent report from the Census Bureau, new single-family homes have spiked to their highest level in seven years. This is encouraging news, not only for the health of the real estate market, but for the construction industry, which is an important… Continue Reading

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Mark and Lisa

Mark A Harbison
R(B) (GRI) (CIPS) (TRC)

Mark@RealEstateMauiHawaii.com

(808) 283-3785

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