The August 2014 Maui Real Estate Statistics revealed a big drop in volume of homes sold. Only 68 transactions of homes closed in August, compared to 100 the month earlier, and compared to 81 in August 2013. The August 2014 median home price of $570k was similar to July’s median price and a little less than August 2013 ($585,000).
For condos, things weren’t as dramatic, with a median price of $410k in August 2014 on 94 units sold, compared to a median in August 2013 of $420k with 81 units sold.
I do see a trend of inventory increasing in the market. The active/pending-continue to show homes as of August 6, 2014 showed 674 in that cateogry, a big jump from only 582 at the same time a year ago. Same for condos, where 871 units were active or pending-continue to show on August 6, 2014, an increase from 756 in August a year earlier.