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Mortgage Rates Drop During the COVID-19 Crisis

Want to know how COVID-19 is affecting the Maui real estate market? Check out this breakdown of the Hawaii real estate statistics!
April 10, 2020


While the effects of COVID-19 continue to ripple through our neighborhoods and impact our overall economy, experts are saying that the situation has created a good-news, bad-news moment, where borrowers can lock in low rates to benefit in the long term.

According to the latest Maui real estate statistics, the market is steady and everyone is keeping an eye on it during this time. For the island as a whole, new listings inventory decreased by about 18%. Pending sales increased to almost 19% for single-family homes and 21.1% for condos. All regions of the country are doing well and in double digits, according to the report, so activity looks great but only time will tell as to how the current pandemic will impact these numbers in the future. 

South Maui real estate as of February 2020:

Kihei real estate

  • 12 single-family homes sold. This number is on track from the year before and it looks like prices dropped slightly but not by much. 

  • The median sales price for homes sold in Kihei was around $753,000, down from $880,000 this January. 

  • 46 condos sold in Kihei, a strong number and at a strong price point as well at a median sales price of $527,500.

Maui Meadows

  • 2 residential houses sold up, from January’s single home sale.

  • The median sales price of homes was $1,277,500, up from January.

Wailea and Makena real estate

  • 2 residential homes have sold, the same as January.

  • The median sales price for homes sold was $2,427,500 which is a bump up from January.

  • 14 condos sold, more than doubling January’s sale of 6 while median prices dropped.

Maalaea

  • 7 condos sold, one up from January, with a median sales price of $330,000.

Overall, it looks as if the real estate market in South Maui is still doing well as of February 2020.

If you have any questions about properties for sale or how the overall market is doing, please do not hesitate to reach out to us. You can contact us or give us a call any time and we will be more than happy to help you. Stay safe and healthy and don’t lose sight of the bigger picture and that is that we will all get through this and come out stronger and better in the end. 

Blogs for April 2020

Build Your Own House on One Palauea Bay Land for Sale

Posted on April 24, 2020

When it comes to purchasing Maui real estate, we know just how overwhelming the home buying process can be. You are probably spending every moment of your free time looking at different properties for sale on the Maui MLS search. Maybe you have been eyeing South… Continue Reading

Homes for Sale in Maui Meadows and Beyond

Posted on April 17, 2020

Note: While these two Maui Meadows and Wailea properties have just recently gone off-market, you can peruse Hawaii real estate and discover your piece of paradise here: South Maui real estate.

Whether you are considering living in Wailea and Makena or elsewhere within South Maui real… Continue Reading

Mortgage Rates Drop During the COVID-19 Crisis

Posted on April 10, 2020


While the effects of COVID-19 continue to ripple through our neighborhoods and impact our overall economy, experts are saying that the situation has created a good-news, bad-news moment, where borrowers can lock in low rates to benefit in the long term.

According to the latest… Continue Reading

Tips on Staying Safe During the COVID-19 Pandemic

Posted on April 03, 2020


As uncertainty continues to grow around the coronavirus, or COVID-19, now is the most important time to get ahead of the issue by proper planning and strategy. So if you are worried, fearful, and/or afraid of this virus and the effects it will have on… 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
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3750 Wailea Alanui * Kihei, HI 96753
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