The Realtors Association of Maui has recently released its monthly real estate statistics report for the county. Looking into the trends revealed in the report is a great way to stay abreast of changes in the market for Maui real estate buyers and sellers alike. In March, home sales spiked, and prices rose.
Single-family home sales increased by no less than 20 percent last month, compared to the same month last year. As always, we like to remind everyone that in a small market, a few sales can result in wide statistical swings. In this case, there were 84 home sales, with one on Lanai. In March of 2014, however, there were only 70 homes sold. Meanwhile, condominium sales saw a modest four percent decline with 122 units sold in March, including three sales on Molokai, compared to 127 sold in that month last year.
As for median prices, single-family homes reached $627,500, which was up six percent compared to March of 2014 when the median was $590,500. The median price of a condo was up 5 percent to $442,500, compared to $420,000 in March of last year.
If you need assistance navigating the market, particularly regarding South Maui real estate, you’ll find our contact information at the bottom of the page. If you’d like to learn a little more about us first, you’ll find our “About Us” pages to the left of the page. There, you can read all about our unique backgrounds in this dynamic, exciting field of work.
Mahalo for reading this week, and be sure to check in each Friday for our latest entry on Maui developments, real estate, lifestyle and events!