We are halfway through the year and the Maui real estate market stats continues to show progress. According to the latest statistics from the Maui Realtors Association, the market trends in South Maui real estate continues to remain steady.
In Kihei real estate, South Maui home sales were good. There were 13 homes sold, three more than the same time last year. The median sales price, however, was down a bit from the same time last year when homes sold in this area on average cost around $962,875. In June 2019, the median sales price was $755,000. In Maui Meadows real estate, there were two houses sold at a median sales price of $997,500. There were four homes sold in May 2019 and two sold during June 2018. In the high-end area of Wailea and Makena real estate, there were two homes sold at a median sales price of $2,077,500. That’s up from the same time last year where there were two houses sold at a median sales price of $1,800,000.
As for Maui condo real estate, there were 39 Kihei condominiums sold at a median sales price of $500,000. That’s down a little from the month before and June 2018 where there were more than 50 condos sold in this area. However, the median real estate sales price is up from $437,500 in May 2019 and $402,000 during June 2018. And in Wailea and Makena condo sales, there were 15 units sold at a median sales price of $1,180,000. During May 2019, there were 16 units sold at $1,065,000 and 23 during June 2018 at a median sales price of $1,180,000.
As for the island as a whole, new Maui listings decreased by 1.7 percent for single family homes and 1.5 percent for condominiums. Pending sales increased by 11.3 percent for residential houses but decreased 2.5 percent for condos. Inventory decreased by 14.6 percent for single family homes and 21.3 percent for apartments. Median sales price increased by 3.4 percent to $750,000 for residential houses and 7.2 percent to $552,000 for condominium. Days on market decreased 27.3 percent for single family houses and 16.8 percent for apartments. Months supply of inventory decreased 15.8 percent for single family homes and 11.4 percent for condo apartments.
That’s an overview of the South Maui real estate market. Contact us if you’re ready to make your dream of becoming a homeowner on Maui a reality. Have a great week!