South Maui Real Estate Market Holds Steady as 2018 Comes to a Close

December 21, 2018

Have you been keeping up with the latest Maui real estate for sale? Are you considering buying a South Maui home for sale or perhaps thinking about making a Hawaii real estate investment with the purchase of a condo on Maui? Well if this sounds like you then it never hurts to stay up to date with the latest in real estate so you know exactly what to expect for your purchase. Right now the market in South Maui continues to remain strong and steady.

According to the October 2018 statistics from the Realtor’s Association of Maui, the real estate market as a whole remained calm and that goes double for the South Maui area. For example, Kihei real estate prices remained strong. In October, there were 13 units sold for $30,862,361 and a median sales price of $749,000. The previous period showed there were only 9 units sold for $6,867,000 and with a median sales price of $798,000. And as for condo sales, Kihei had 40 units sold for $20,015,800 and a median sales price of $430,000.  Compared to the 48 units sold in this area for a total of $21,920,399 and a median sales price of $401,000 from the previous month.

The real estate in Wailea and Makena areas had about 13 condo units sold for a total of $16,352,296 for a median sales price of $862,689. And two homes were sold in this area the previous period for $3,315,000 and a median sales price of $1,657,500.

As for the island as a whole, new listings decreased by 3.3 percent for single family homes and 17.2 percent for condominium homes. Pending sales increased by 15.2 percent for single-family homes but decreased by about 12.9 percent for condominium homes. Inventory decreased by 15.4 percent for single family homes and 19.9 percent for condominium homes. The overall median sales price increased by 15.8 percent to $774,223 for single family homes on Maui but decreased by 3.6 percent to $499,000 for condominium homes. Days on the market decreased by 34.3 percent for single-family homes but increased by 8.2 percent for condominium homes. A months supply of inventory decreased by 13.6 percent for single-family homes and by 24.5 percent for condominium homes.

That is our overview of the October stats but we invite you to stay up-to-date with the latest in Maui real estate statistics on your source for all things real estate, our website! If now seems like a good time for you to buy then contact us today and let us help you into a new home on Maui.

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