According to the latest January 2020 statistics, the South Maui real estate market continues to show growth and improvement with new inventory coming in and property prices remaining strong.
Honing in on what’s going on in South Maui, sales and prices look good for 2020 so far! Let’s break down the latest in terms of real estate market trends in South Maui for January.
- There were 12 residential homes sold at a median sales price of $880,000. While there were 18 homes sold in the previous period, those pieces of Kihei real estate were sold for less.
- Kihei condo sales saw 42 condos sold with the median sales price increased from the $448,500 in December to $547,000 this past January.
- There was an increase in Maalaea condos sales with January selling 6 condos for a median sales price of $347,500 compared to the 1 condo for sale in the previous period.
- Prices and Wailea real estate sales remained strong through January, although it is down compared to December 2019. There was also a drop in the number of Wailea condo sales but the price point remained steady at about $1,150,000.
That’s a brief look at the real estate market in South Kihei. As for the island as a whole, the median sales price increased by 7.2 percent to $782,438 for single-family homes and by 7.7 percent to $569,000 for condominium homes. And with low-interest rates, low unemployment rates, and more interest in homeownership, it looks like 2020 is going to be a great year in terms of real estate on Maui and nationwide.
So, if you are looking to make a Hawaii real estate investment this year, you are going to want to act now before prices increase and South Maui property inventory decreases! If you find one that speaks to you, please do not hesitate to reach out to us. You can contact us or give us a call anytime and one of our Maui realtors will be ready to assist you.