Maui Real Estate Market Trends April 2009
I’d love to say that April showers bring May flowers…but realistically that isn’t happening. Last month, I published the stats but wanted to do a video editorial… which I never quite completed. In turn, my report was never sent out so I’ll summarize 2 months now. In March there was a glimmer of hope but with April here, we see it was just a seasonal peak. Usually we see about 3 months of activity and this year just one. We continue to see slightly declining sales and prices in most markets. The pending numbers continue to show some promise for residential markets but the condo prices are dropping to bargain basement prices.
Maui is continuing to be strongly influenced by the foreclosures that are happening at all price points and locations across the islands. There is some talk that the banks have a large number of bank-owned properties that they are just waiting on. From the tracking that I do, I know that banks are either just REALLY slow or are waiting. We continue to see more and more short sales and bank-owned properties on the market. The bank-owned properties don’t stay on the market long though so track them close. We are seeing that the best-buys are being snapped up fast!
|Jan 2009||Feb 2009||Mar 2009||April 2009||May 2008|
* Foreclosure counts are based on those advertised in the Maui News. This is not a complete list but reflects trends.
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