The Realtors Association of Maui released the statistical report for property sales as of December 2011, which shows that residential sales for all of 2011 (January-December) rose by over 10% to 898 units versus YTD of 2010. The total volume of residential homes sold was up for 2011 by 16% to more than $700 million sold on the island. The median price of a home sold on Maui was down 6% in 2011 to $433,500 compared to year 2010. Forty-five percent of all residential sales reported in the MLS were either an REO or Short Sale.
Condo number of units sold was up slightly by 1% in 2011 to 1,155 units sold compared to the previous year, yet the total dollar volume was down by 25% to over $561 million sold. The median price was down by 18% to $310,000 in 2011 when compared to year 2010.