Prices continue to trend up in Maui real estate. The June 2013 Maui Real Estate Sales Statistics show that the median price for a Maui home in June really jumped up to a whopping $615,000. Wow, prices have not been that high since the August 2008 sales statistics, when the median was $645,000. This is also a huge surge from the lowest point in the past 5 years, which only occurred 13 months earlier, in May 2012, when the median monthly home price was $382,000. June a year ago, the median was $575,500. In May, one month earlier, the median price was $544,500. There were 91 homes sold in June, down from 108 a month earlier, but up from 86 in June of the prior year.
As for condos, things are also up, but not as dramatically. The median price of a Maui condo in June was $390,000, based on 124 sales. This is up in price from $380,000 a month earlier, and down from the prior month when 139 units closed.
As for land, 17 parcels sold in June, compared to 20 the prior month.
It’s interesting also to look at the 6-month sales of 2013 since we have finished half of the year. Year to date January through June 2013, the median home price is $542,000, up 20% from the same YTD period in 2012, when it was $450,000. Volume is also up by 10%, with 485 homes sold so far this year (compared to 440 the same YTD period in 2012). Sales are also up for condos, but in a more modest fashion. For Fee Simple condos (not including leasehold), there was a median price increase YTD of 3% (new median is $377,200) and # of sales YTD are up by 4% to 640 units sold.
To discuss the housing market further and your interest in buying or selling, please contact us at Delmore Realty. We can be reached at www.delmore.net, 808-242-1467.
Kimberly Delmore R(B), ABR, CRS, cell: 808-298-6655, firstname.lastname@example.org