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Maui Real Estate Market Update for November 2016

Home and condo sales spike in November, on mixed prices.
December 16, 2016

Maui Real Estate Market Update for November 2016

The numbers are in from the Realtors Association of Maui, and now we just have one more month of data to look forward to before the year is complete. This should be interesting for anyone who wants to evaluate the long-term trends of the Maui real estate market for investment purposes. These trends paint a much clearer picture of the market than data from single months, especially in a small market like ours where a relatively small number of sales can skew the percentages.

November's report revealed a double-digit increase in the number of homes sold in Maui County, while prices were mixed for both homes and condominiums. While there were 72 home sales in November of 2015, we saw no less than 91 homes sold this past November. The year-to-date statistics revealed 979 home sales, compared to 997 in the first 11 months of last year. This is just a 2 percent decline, but after such a strong performance last month, it will be interesting to see what happens this month.

As for condos, 111 units sold in November, which is a huge jump compared to the unusually low count of 74 sales in the same month last year. This is a good example of how the numbers can look dramatic when you're only evaluating a single month. Year-to-date condo sales revealed 1187 sales, compared to 1088 during the same period last year. That's a 9 percent increase, which is a much more stable figure.

Median price data revealed a 15.4 percent increase for homes, and a 20 percent decrease for condos. The median price of a Maui home was $635,000 in November, up from the $550,000 of November last year. The median price of a Maui condo was $380,000, down from $475,000 in the same month last year. The decline in condo prices may also help to explain the spike in sales, at least in part.

What will December bring as we finish out the year? We don't have long to wait before we find out. The next report will be released soon after the start of a brand new year. Maybe you'll have a Maui home of your own in 2017, if you don't have one already. On that note, if you need assistance with your real estate search, you'll find our contact information at the bottom of the page. We look forward to lending our expertise to your efforts! Mahalo!

Blogs for December 2016

Maui Nonprofits Given Large Donation from Charitable Trust

Posted on December 30, 2016
Maui Nonprofits Given Large Donation from Charitable Trust

If you want to live and work in a place where generous folks pour a great deal of support into the community as a whole, you'll have a hard time finding a better option than Maui, (especially if you like beautiful… Continue Reading

New South Maui Restaurant By Renowned Hawaii Chef

Posted on December 23, 2016
New South Maui Restaurant By Renowned Hawaii Chef

A new restaurant by renowned Hawaii chef Roy Yamaguchi is coming to South Maui, as a part of The Wailea Beach Resort- Marriott, Maui. The resort, situated on 22 beautiful acres of beachfront Wailea property, recently underwent a $100 million renovation, a wise… Continue Reading

Maui Real Estate Market Update for November 2016

Posted on December 16, 2016
Maui Real Estate Market Update for November 2016

The numbers are in from the Realtors Association of Maui, and now we just have one more month of data to look forward to before the year is complete. This should be interesting for anyone who wants to evaluate the long-term… Continue Reading

Unique Plantation Home for Sale in Hana

Posted on December 09, 2016
Unique Plantation Home for Sale in Hana

This week, we'd like to share something a little different with our readers who are on the hunt for Maui real estate. The market isn't only made up of homes in neighborhoods full of other homes. You can also find unique, rural… Continue Reading

Three Kihei Restaurants Make Top 50 List at The Daily Meal

Posted on December 02, 2016
Three Kihei Restaurants Make Top 50 List at The Daily Meal


Photo courtesy of Sansei Kihei : SanseiHawaii.com

We don't often get the opportunity to talk about what's happening in the wonderful world of dining, but being South Maui real estate specialists, how could we pass up on sharing… 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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