In terms of South Maui Real Estate, there is always a lot to consider. Whether you are planning on buying an oceanfront condo or a million dollar home, ideally you would like to position yourself properly to buy at the right time before prices increase too much. And that time happens to be now as prices have spiked in certain areas, especially amongst Kihei real estate.
According to the November 2019 report from the Realtors Association of Maui, single family homes in this part of the island sold for $170,000 more during the month of November. In the South Maui real estate market stats, there were 10 homes sold at a median sales price of $922,500, which is up from the $752,500 in October. Kihei is always a great place to buy a home to retire, live, or rent out, so it’s no wonder that this area is gaining popularity!
In other news, there were no sales in Maui Meadows and only two homes sold in the Wailea and Makena area at a median sales price of $1,820,000. During November of 2018, there were 6 homes sold in the same area with a median sales price of $9,551,176, so that number is substantially lower but it’s hard to say why without seeing the individual listing prices. Three homes sold during the same time last year for a median sales price of $2,100,000, so that’s not too much of a price difference.
As for condos, Kihei condos continue to look good. Six more homes were sold in November compared to October making it a total of 56 at a median sales price of $455,000. In October of this year the median sales price for 50 units sold was $501,000, but still up from last year with only 52 units sold for a median sales price of $414,500.
In the Wailea and Makena area, there were 9 condos sold for a median sales price of $1,075,000 compared to three sold last month at a median sales price of $1,520,000. Unfortunately that’s down some from the same time last year where there were $1,288,800.
That’s an overview of South Maui’s real estate market. In the meantime, please continue to look back at our website for new listings and to stay up to date regarding real estate on the island. Contact us when you are ready to talk prices and have a great week!
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