On Tuesday, September 11, the Maui News published this headline on the Front Page
“The volume of house and condominium sales dropped sharply in August, according to Multiple Listing Service statistics released by the Maui Association of Realtors on Wednesday.
Both median and average prices are down 7 percent for single-family homes so far this year. But the average price is up 25 percent for condos and the median for condos is up 10 percent.”
Technically this may be right but the headlines lead you to believe condo volume was up when in reality it was at its lowest point in 2 years with just 50 units sold. Condo prices across the island look strong but are really influenced by high-end sales of new developments.
I prefer looking at moving trends instead of comparing one month to the next. Here is my snapshot of Maui that looks at 4 month and 12 month moving trends.
Take a quick look at the trends chart for units sold and you see a very different picture of the residential vs. condo numbers!
Now do you believe that house sales are down but condos are up? No way. Condos are tanking fast. I predicted this would happen as people are nervous and not buying second vacation homes.
This month I changed my reports a little to make it easier to go right to a page of the report you want to see. Here you go:
Note: I tried to use PDF named destinations and pages to go to the right page and have bookmarks show. This feature doesn’t seem to work consistently but I spent too much time debugging it! The data is all there, links just don’t work the way I expected!
|All Maui||Snapshot||Full Trend Report|
|— South Maui||Snapshot||Full Trend Report|
|—- Kihei||Snapshot||Full Trend Report|
|—- Wailea||Snapshot||Full Trend Report|
|— West Maui||Snapshot||Full Trend Report|
|— Central Maui||Snapshot||Full Trend Report|
|— Upcountry||Snapshot||Full Trend Report|
|— North Shore Maui||Snapshot||Full Trend Report|