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November Maui Real Estate Market Performance

The year is almost over, and the real estate market statistics reveal some interesting trends.
December 25, 2015

November Maui Real Estate Market Performance

Interested in Maui real estate trends? The savvy buyer will keep track of the fluctuations in the market to choose the best investment at the best time. With that in mind, November's statistics should be interesting, and when the data is released for December, we'll have the full picture for 2015, which will help with decision making in 2016.

November revealed a 30 percent increase in median condo prices to $475,000 from $366,250, according to the Realtors Association of Maui. The number of sales was also up 8.8 percent to 74 units sold, compared to 68 in the same month last year.

Single-family home sales were down just 5.2 percent to 72 homes sold, compared to 76 in November of last year, while median home prices were also down 6.3 percent to $550,000 from $587,500 year-over-year.

In summary, condos sales and prices were up and home sales and prices were down in November. But what about the year-to-date statistics? Long-term trends provide a better understanding of the market than monthly fluctuations. The following statistics apply to the first eleven months of the year.

The median price of a Maui condo was down just one percent to $410,000, while sales were up 2 percent with 1,097 units sold. The median price of a single-family home was up 2 percent to $582,300, while sales were up an impressive 13 percent with 996 homes sold, compared to 881 during the same period last year.

The conclusion is that prices are relatively steady, but the demand for Maui homes this year is certainly noteworthy. If you need further assistance in the Maui real estate market, you'll find our contact information at the bottom of the page. We will be happy to guide you through the nuances of this unique real estate market. Mahalo!

Blogs for December 2015

November Maui Real Estate Market Performance

Posted on December 25, 2015
November Maui Real Estate Market Performance

Interested in Maui real estate trends? The savvy buyer will keep track of the fluctuations in the market to choose the best investment at the best time. With that in mind, November's statistics should be interesting, and when the data is released for December, we'll… Continue Reading

New Condominium Project Planned for Kihei

Posted on December 18, 2015
New Condominium Project Planned for Kihei

A $13 million, 39-unit hotel-condominium project is in the works for Kihei via Victory Development Inc. and headed by realtor Greg Walker, an owner of Maui's Victory Realty LLC. The development would be located near the Kihei Kai Nani hotel-condominium.

The "Nani Loa Condominium-Hotel"… Continue Reading

Department of Energy Highlights Hawaii's Clean Energy Efforts

Posted on December 11, 2015
Department of Energy Highlights Hawaii's Clean Energy Efforts

The United States Department of Energy recently praised a handful of states, including Hawaii, for innovative clean energy financing programs that inspire investments. Hawaii's Green Energy Market Securitization (GEMS) program especially drew attention from the Department of Energy for its success in driving… Continue Reading

Permit for South Maui Hydro Power Project Canceled

Posted on December 04, 2015
Permit for South Maui Hydro Power Project Canceled

A lot of interesting developments are marching right along here, including several South Maui real estate projects, but an interesting twist recently came down the pipeline regarding a pumped hydro storage project. The project's preliminary permit was canceled by the Federal… Continue Reading

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

Mark@RealEstateMauiHawaii.com

(808) 283-3785

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