The April 2013 Maui Real Estate Sales Statistics were released recently. The market appears steady and strong. A median Maui home price is $500,000, and a median condo price is $370,000.
The home prices are up from the same month a year earlier, when the median was $469,000, and just a bit less than $509,500 of the prior month. Volume is pretty stead, with 77 homes sold in April, compared to 80 the prior month and 79 the same month a year earlier.
Condo volume is up significantly, with 143 units having sold in April, compared to 101 in the month earlier (and compared to 129 the same month a year prior).
Super low inventory continues. As of May 15, 2013, there were 623 homes Active/Pending-Continue to Show or Contingent, which is the lowest level it has been in the preceding 12 month period (there were 749 homes as of May 2012). As for condos, it’s also at the lowest level in the preceding 12 month period, with 860 units in Active/Pending – CTS/Contingent Status (compared to 1,066 in the same month a year earlier). The report states that inventories have declined 16-19% over the past 12 months in Residential & Condo classes. Thus, the competitive market continues as interest rates are still very low.