According to the latest report from the Realtor’s Association of Maui for February, it appears as if sales were down slightly on the island, but experts believe the drop in sales was not enough to cause concern and was more than likely weather-related.
That being said, in some parts of the island, sales were up compared to the same time last year. In Lahaina, for instance, seven single-family homes sold for a total of $10,419,999 with a median sales price of $755,000. During the same time last year, there were only six units sold for a total of $13,941,000 at a median sales price of $2,190,000. Last month in Lahaina, there were only four units sold for $7,363,000 at a median sales price of $746,500. Kaanapali saw two homes sold during February for a total of $5,263,000 at a median sales price of $2,631,500. And while last month there were four homes sold, there were only two sold during February 2018 for a total of $3,950,000 at a median sales price of $1,975,000. Kapalua saw an increase in home sales compared to last month with ten units sold for a total of $6,470,000 compared to the previous month where only eight units were sold for a total of $5,260,000. So far home sales in this area this year are down compared to last year where there were 21 homes sold for $14,727,919 at a median sales price of $688,000.
As for condos, there were four condominiums sold in Kapalua for a total of $3,720,000 at a median sales price of $900,000. Last month, there were six units sold for a total of $11,339,500 at a median sales price of $1,085,000. This year, condo sales seem to be up in Kapalua compared to last year when only one condo was sold during February 2018 for a total of $3,650,000. Condo sales are down; however, in Kaanapali where there were six units sold for a total of $5,347,000 at a median sales price of $903,500. Last month there were 15 units sold in this area for $15,845,500 at a median sales price of $774,000, and during the same time the previous year, there were 18 units sold for $22,500,500 at a median sales price of $1,057,500. In Lahaina, condo sales are down substantially compared to last month but up compared to the same time last year. Last month there were 16 units sold and this month there were only eight condos sold altogether. There were four condos sold during the month of February in Lahaina during 2018.
For more information about Maui’s real estate market keep checking back to my website and feel free to contact me with any questions you might have. See you next week and a hui hou!
