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Maui Real Estate Market Report for February of 2017

Maui home and condo prices continue to rise, while sales remain steady in February, 2017.
March 17, 2017

Maui Real Estate Market Report for February of 2017

Maui home and condo prices rose in February, compared to the same month last year, according to a recent report by the Realtors Association of Maui (RAM). Sales remained steady. According to Terry Tolman, Executive Director of RAM, due to the current exchange rates, Canadian buyers may be motivated to sell as the dollar continues to strengthen.

With 63 homes sold in February, sales were relatively steady, in comparison to the 69 sold in the same month last year. Meanwhile, the median price of a single-family home increased by a dramatic 13 percent to $672,575, up from $595,000 in February of last year.

As for condominiums, sales increased to 113 units, up from 104 units in the same month last year. According to the report, the market saw a similar uptick last year between January and February. The median price settled at $465,000, up a healthy 7 percent from $431,950, year-over-year. Median prices were substantially higher in January, however, at $525,000. This was the highest median price that Maui condos achieved since February of 2009.

As we always like to remind our readers, Maui's is a small market. Big fluctuations happen when your statistics include a relatively small sample. That means the median condo price change between January and February could easily be the result of just a few luxury sales that swung the numbers. That's why long-term trends create the most reliable guide.

If you're in the market for Maui real estate, it's worth keeping in mind that inventory has increased, due to the high season, which tends to begin in December before tapering off in April. On that note, if you're looking for a large collection of options, South Maui real estate consistently boasts the most robust collection of condominiums to choose from. Best of all, there are miles and miles of stunning white sand beach nearby. The Kihei and Wailea/Makena areas hug the coast, and the gentle slope of the land helps to provide properties with stunning ocean views.

If you need our assistance, we would be happy to help you find just the right property to meet your unique needs and preferences. When it comes to buying a home, condo, or land, it can be very helpful to work with someone who knows the market inside and out, especially if you haven't purchased property in Hawaii before, because there are some differences. If you would like our assistance, you can find our contact information by clicking here. Mahalo!

Blogs for March 2017

Big Turnout for 2017 Maui Energy Conference

Posted on March 31, 2017
Big Turnout for 2017 Maui Energy Conference

The turnout for the Maui Energy Conference last week was just over 350 people. This is the highest level of attendance yet, in its four year history. Given Maui's position as a focal point in the development and application of renewable energy… Continue Reading

10th Annual Maui County Agricultural Festival

Posted on March 24, 2017

The 10th Annual Maui County Agricultural Festival is scheduled for April 1, 2017, just a couple of weeks away. Many prospective Maui home owners and new residents are showing an increasing interest in agriculture, including both professional and hobby-related pursuits. This festival is the perfect opportunity to inspire those interests,… Continue Reading

Maui Real Estate Market Report for February of 2017

Posted on March 17, 2017
Maui Real Estate Market Report for February of 2017

Maui home and condo prices rose in February, compared to the same month last year, according to a recent report by the Realtors Association of Maui (RAM). Sales remained steady. According to Terry Tolman, Executive Director of RAM, due to… Continue Reading

Monthly ARTwalk Event Presented by The Shops at Wailea

Posted on March 10, 2017
Monthly ARTwalk Event Presented by The Shops at Wailea

Maui's vibrant art scene has just gotten more interesting with the launch of ARTwalk at The Shops, presented by The Shops at Wailea, here in South Maui. Local and vacationing art lovers now have a social event where they can… Continue Reading

Kihei Oceanfront Home for Sale on Halama Street

Posted on March 03, 2017
Kihei Oceanfront Home for Sale on Halama Street

South Maui oceanfront homes are like the crown jewels of this part of the island. Only so many homes can be located adjacent to the water, especially when the glittering luxury hotels claim so much of that space. They choose their… Continue Reading

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Mark and Lisa

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

Mark@RealEstateMauiHawaii.com

(808) 283-3785

Coldwell Banker Island Properties
Shops at Wailea, Suite B-35
3750 Wailea Alanui * Kihei, HI 96753
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