The July 2012 statistics from the Realtors Association of Maui are out and we are seeing continued signs of a strengthening market. Single family homes in July 2012 sold for a median price of $491,000, which was almost 25 percent more than July 2011, based off of 71 home sales, slightly up from 68 a year ago.

Condo prices remain steady compared to a year ago, at $320,000, same as last July, with 73 units sold, down from 98 sold in July 2011.

Year-to-date, steadiness is evident with 511 homes sold through July 2012, same as through July 2011. Strength is shown with a YTD increase in prices to $462,000, up 5 percent from July a year ago. Condo prices are also up YTD by 8 percent to $350,000 through July 2012, based of of 740 units sold in this time, which is down just 1 percent from July a year ago.

To get an interesting perspective on the Maui real estate market, see well-reputed Hawaii economist Paul Brewbaker’s PowerPoint presentation that he shared with the Realtors Association of Maui at its recent general membership meeting. My take from his report is that the bottom of the market has already passed and the market is in an upswing.