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The Coconut Chronicles

The MauiRealEstate.com Newsletter

Volume 15 » page 3...

Maui Real Estate Market Update

While monthly real estate statistics on Maui tend to fluctuate due to our small market size, looking at Maui Real Estate statistics over months and years can reveal broader trends. Over the last few years, the trend has been markedly upwards. Over the first four months of the year, changes in the market are starting to become apparent. Statistics will often lag a little behind the market. The increase in new listings in the end of 2005 was the first sign of a market change. The April statistics provide the clearest glimpse yet in market changes. The most glaring of which is monthly sales volume. There were 68 homes sold in April of 2006 compared to 116 sold in April of 2005. There were 222 condo sales in April of 2005. The numbers for April of 2006 were down to 111. May had similar statistics with volume of sales down from the same time last year. The one apparent anomaly was that median sales price increased in the condo market and among homes in some communities. The big increase in the condo market can be attributed largely to Wailea Beach Villas. Sales in this high end development played a big role with a number of closes in the $2,000,000 + range. Increases in sales prices in the Napili Condo market and Haiku Home market can not be as easily explained. More sellers and less buyers generally results in some measure of decreases. Thus far, this does not appear to be the case. It will be interesting to monitor this phenomenon over the next couple of months.

Click here to see all of the Maui Board of Realtor Statistics including statistics for regions of the island.

May 2006

 

Days on Market

Median Price

Total New Listings

172

 

 

Homes Sold

84

122

$727,000

Condos Sold

135

132

$590,000

Vacant Land Sold

17

173

$640,800

May 2005  
Days on Market
Median Price

Homes Sold

110

132

$780,000

Condos Sold

175

111

$350,000

Vacant Land Sold

32

181

$793,750

 

April 2006

 

Days on Market

Median Price

Total New Listings

155

 

 

Homes Sold

68

110

$690,000

Condos Sold

111

121

$539,000

Vacant Land Sold

20

131

$735,800

April 2005

 

Days on Market

Median Price

Homes Sold

116

110

$674,000

Condos Sold

222

113

$329,500

Vacant Land Sold

26

139

$547,500

 

March 2006

 

Days on Market

Median Price

Total New Listings

183

 

 

Homes Sold

107

134

$725,000

Condos Sold

143

127

$530,250

Vacant Land Sold

39

104

$701,000

March 2005

 

Days on Market

Median Price

Homes Sold

123

123

$635,000

Condos Sold

182

104

$416,250

Vacant Land Sold

41

76

$415,000

 

February 2006

 

Days on Market

Median Price

Total New Listings

183

 

 

Homes Sold

59

132

$680,000

Condos Sold

116

152

$438,325

Vacant Land Sold

34

75

$800,000

February 2005

 

Days on Market

Median Price

Homes Sold

81

153

$575,000

Condos Sold

149

140

$353,523

Vacant Land Sold

23

179

$550,000

 

January 2006

 

Days on Market

Median Price

Total New Listings

200

 

 

Homes Sold

86

121

$690,500

Condos Sold

129

103

$440,000

Vacant Land Sold

28

558

$430,000

January 2005

 

Days on Market

Median Price

Homes Sold

98

132

$632,500

Condos Sold

99

102

$430,000

Vacant Land Sold

31

255

$584,100

Thank you again for taking the time to read the Coconut Chronicles. As always, feedback and questions are most appreciated.

If you know anyone else who might enjoy these articles, please feel free to forward a link to this page.

Warmest Alohas,
Pete and Billy Jalbert
The MauiRealEstate.com Team