Today is fairly quiet so I am finishing my monthly stats report. The stats this month are much like Hurricane Iselle – pretty much a non event. We are all happy that there wasn’t mass destruction and that Iselle ran into the big mountains of Mauna Kea and Mauna Loa on the Big Island and fizzled. Maui is pretty much shutdown for the day as we wait to see if Hurricane Julio will impact us. It is always better to be safe than sorry. I do have to note that this is the first year since I’ve lived here that the upcountry hillsides have remained green through the summer. Climate change, like market change is inevitable.
July did not bring much new to report in the Maui Market. Here’s a summary but be sure to check detailed reports below for specific area information.
- Condo sales continue down. They are about 20% fewere sales than last year but this is seasonably a low time for condo sales. Inventories are hanging at about 7 months so it is still a transitional market. All major condo areas are performing about the same. Median condo prices last month was $387,500 far below the median trend at $427,000 which is 12% over the median trend price last year.
- Residential Sales are strong. There were 96 residential sales last month which is slightly over where we were July 2013. Active inventories are at 6 months which again is a transitional market. Median prices are 21% over July 2013, and trends show a 5% increase. Kihei is stronger showing trending of 10% in median prices, Central Maui is fairly flat with a 3% increase and West Maui is fluctuating. Upcountry median prices have soared over last year with 26% upward trend.
- Land sale median prices have been steadily growing since August 2013 with about 30% increase.
- We are seeing a few more foreclosures coming on the market but in my opinion, they are not the deals they used to be! Short sales are still slow and challenging.
Questions or comments? Need help with Buying or Selling? Please ask below or call or text Kathy at 808-344-0469
View the Detailed Maui Market Reports
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