December Real Estate Market Report

February 16, 2018

Prices for homes on Maui remain high while inventory and days on the market continue to drop from year-over-year comparisons.

The December report from the Realtors Association of Maui says the number of homes for sale, days on the market, and months of supply were all down December 2017 compared to December 2016. That being said, experts believe sellers could benefit from the ability to sell for higher prices, according to the report.

It also appears that new listings for single family homes have increased by nearly 20 percent, whereas new listings for condominium homes have decreased by nearly 10 percent. However, according to the report, people are still buying at the higher prices, as pending sales increased by around 43 percent for single-family homes and around 40 percent for condominium homes, even though inventory dropped for each of these categories.

Currently, the median sales price decreased by less than 1 percent (around .8 percent) for $695,500 for single family homes but increased by 7.1 percent for condominium homes. That puts the median sales prices at around $440,000. Both categories experienced a decrease in inventory over a year-to-year period, with supply decreasing by 15.4 percent for single-family homes and by 36.3 percent for condominium homes.

One interesting finding from the report shows that while wages have shown an improvement in 2017, these wages may not always match the levels of home price increases. The report says realtors remain “cautiously optimistic” for the next year, and believe that housing and economic indicators give reason to believe 2018 will be a good year for the housing market.

View the full report to find an overview of the market on Maui from December 2017 to December 2016. You can also see a list of closed sales, average sale prices and more during this time period.

If you have some real estate that you’d like to sell here on Maui, let Real Estate Maui Hawaii help you. We are a professional team of educated realtors who can help you get the most out of your investment. We are here to represent and serve our customers with the warmest aloha on the islands. We also have a plethora of listings available for those of you looking to buy a home on Maui. Whether you’re in the market for a condo or family home in Makawao or in Lahaina, we have listings all throughout the island and you’re sure to find just what you’re looking for. Visit our contact page and let us help you find your next home on Maui.

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