With a new year comes a new opportunity to understand what the real estate market is looking like! Speaking of real estate, if you need help with finding a home on the island make sure to contact us and we can help you along your journey towards home buying right away.
As with all things in life, it’s always nice to stay educated about the real estate market before buying. That is why here at Real Estate Maui, Hawaii, we assist you along your path by giving you monthly updates about the market. Here’s an insider look at the market last year and what’s to come.
According to the latest South Maui real estate market report, home prices were up again across the board, and Maui was no exception. While inventory may be decreasing, prices are not so now is a great time to buy, especially in South Maui.
Kihei real estate continues to thrive in both single family homes for sale and in condo sales.
- 18 homes sold in December, compared to 10 in November 2019 and 13 during the same time the year before.
- 42 condos sold in December, steady compared to the same time last year.
As for Wailea and Makena properties, house prices increased for single family homes.
- Median sales price hit at around $2.5 million.
- 11 Wailea condos sold total, more than the month and the year before!
South Maui is a hot place to buy real estate right now so you don’t want to miss it. As for Maui as a whole, the market’s overall inventory is low so if you are someone who has a home to sell, now is the time as prices are high and mortgage rates remain low. Our team is here to help you with the process, so if you are interested in buying or selling, make sure to contact us and we will be able to help you as soon as possible. If you have any more questions for us, we are here for you and look forward to helping you along your journey. Have a great day, aloha!