The February 2014 Maui Real Estate Sales Statistics from the Realtors Association of Maui is showing health, and some signs of steadying. The single family home median price for February was $560,000 based on 60 sales, which is just a little higher than Feb 2013’s median of $537,500 based on 66 sales (just a handful more). However, this was a drop from January 2014’s median of $695,000.
Condo median price of $345k, and # of transactions (87 sold), dropped compared to the same month a year ago ($360k on 101 sales), and also a month ago in January 2014 ($441k on 94 sales).
Land sales seem to be a little down, also, based on these comparisons. 11 parcels sold for a median of $400k, compared to 14 sales at $502,500 in the same month a year ago. However, prices were a little higher in Feb compared to January 2014 ($370k on 13 sales).
Year to date, single family home sales are pretty steady on the first two months. We had 125 sales YTD for 2014, versus 129 total at this YTD in 2013. However, the volume is way up to $142 million sold YTD, up 55% from YTD last year when $92 million of homes sold. YTD median is a smidge higher – $585k for a single family home so far this year, compared to median of $550k at this YTD in 2013.
Inventory-wise, while still relatively low, we do have about the highest amount of inventory in the past 12 months as of 3/12/2014. 685 homes were active or pending as of 3/12/14. There were 912 condos active/pending and 413 land parcels active/pending.
Please contact Delmore Realty at www.delmore.net to further discuss your interest in the Maui real estate market.