It’s another month and another chance to assess Maui’s excellent real estate market. Homes for sale on Maui continue to remain steady despite national concern about housing price increases and affordability.
According to the latest statistics from the Realtor’s Association of Maui, new listings and total homes for sale have been trending lower in year-to-year comparisons in several areas. That being said, some areas in West Maui saw an improvement.
For Single Family Homes on Maui, Kaanapali saw a decrease in homes for sale. One home sold for a total of $1,150,000 whereas 6 were sold for $14,221,000 during the same time last year with a median sales price of $1,922,500. Two single-family homes were sold in Kapalua for a total of $4,400,000. That’s up from the same time last year when there were zero sales during March. Lahaina also saw an increase in sales with seven units sold for a total of $10,218,000 and a median sales price of $875,000. That’s up from 4 sales in March 2018, at a total of $5,140,000 and a median sales price of $1,109,000. In Napili/Kahana/Honokowai, there were five homes sold for a total of $4,073,743 at a median sales price of $800,000 That’s up from two during March 2018 at a median sales price of $1,102,500.
On the island as a whole, new listings for single-family homes increased by 24.6 percent, and pending sales increased by 2.6 percent. The median sales price also increased for single-family homes by 4.8 percent to $712,718.
As for condos for sale in West Maui, there were also positive increases. In Kapalua, there were seven condos sold for a median sales price of $900,000. That’s up from three during the same time last year at a median sales price of $1 million. In Kaanapali, there were nine units sold at a median sales price of $930,000. In March 2018, there were seven units sold for a median sales price of $840,000. There were seven condos sold in Lahaina for a total of $4,687,800 at a median sales price of $690,000. That’s one more than last year, where only six units were sold at a median sales price of $476,250. And in Napili/Kahana/Honokowai, there were 32 condos sold for a total of $14,798,580 at a median sales price of $415,000. That’s up from last year where 18 units were sold at a median sales price of $452,500.
That’s the latest in real estate on Maui. Keep checking back to my blog to stay up to date and remember to contact me when you’re ready to buy a home on Maui! Aloha!
