The Maui real estate market statistics are in for the first month of 2017, compiled by the Realtors Association of Maui. It’s always interesting to see how the new year kicks off, which says a lot about how buyers have fared financially by the close of the prior year. In general, the highest number of real estate sales tend to happen in the spring and summer months, but Hawaii’s trends aren’t as pronounced that way as other places in the nation. That being said, January tends to be on the quiet side, but that’s why the statistics compare data to the same month last year.
According to the report, the median price of a Maui single-family home was up 4 percent to $655,000 in January. The number of sales fell 10.9 percent to 65 homes sold. In January of 2016, there were 73 single-family home sales, but the median price was $630,000.
Meanwhile, the median price of a condo in Maui County was up a dramatic 36 percent to $537,500, with a 15.6 percent increase to 96 sales. In January of last year, the median price was $395,000 with a total of 83 sales. There are more condo sales in Kihei than any other area on the island, in part due to the abundance of choices.
If you’re in the market, you may want to browse the robust collection of Kihei condos for sale at this time. These condos are also ideal for short-term rentals, being that they’re located near some of South Maui’s loveliest beaches. West Maui condos include a wide variety of choices as well.
You can find RAM’s collection of Maui real estate statistics at www.ramaui.com, if you’re interested in reading up on the past trends that have shaped the market as we know it today. The data is compiled and released every month with single-family home, condominium and land statistics, including price information, number of sales, and volume of sales. The information is broken up based on location, so if there are certain areas that have caught your interest, you can take a look at the current and past market influences on that area.
If you’re looking for Maui real estate, we recommend perusing our website, trying our search feature, or reaching out to us. We can assist you through every step of the real estate purchase process. You’ll find our contact information by clicking here. Mahalo!