The August 2013 Maui Real Estate Sales Statistics are out and prices continue to rise. The median home price on Maui for August was $585,000. For condos, the median was $420,000.
Low, low inventory is the continuing story. While July 2013 inventory for homes took a slight turn up, it appears to have been just a blip. Inventory is way low. As of September 9, 2013, there were 582 homes active or under contract, the lowest in at least 12 months. In September a year earlier, there were 661 homes by comparison active/pending.
As for condo inventory, it’s also the lowest # active/pending in at least 12 months. As of 9/9/13, there were 756 condos active or pending on Maui, compared to 917 at the same month a year ago.
With such low, low inventory and climbing prices, many Sellers are getting very aggressive on their asking prices. It’s continuing to be very challenging as a buyer to get a deal to work, unless you happen to be a buyer with all cash! You will continue to face competition from many other buyers and sellers who insist on a price higher than recent comps in their neighborhood.
We need more listings so contact us if you wish to speak about listing your property. If you are a buyer, we can help you through the battle of a finding a property in this market. Contact me: Kimberly Delmore R(B), www.delmore.net, 808-298-6655 direct, firstname.lastname@example.org.