The May 2015 Maui Real Estate Statistics are out and we are seeing a big median price increase for homes and condos. The median home price for May is $607,098 (prior month was $575,000). It was $537,500 in the June a year earlier. The median condo price is $469,000 (prior month was $407,500). It was $472,000 in June a year earlier.
After 5 months of having more than 1000 condos for sale or pending continue to show, the condo inventory has dropped to below 1000 units (there were 987 units active or pending-continue to show as of June 4, 2015). Similarly, after 4 months of more than 700 homes active or pending-continue to show, the single family home inventory has dipped to 697 homes.
There were 88 homes sold in May 2015 and 109 condos sold.
Year-to-date for the first 5 months, median home prices are up 3% compared to same period a year earlier.
Spotlight on Pukalani. Year-to-date sales volume is up 50% there. First 5 months of 2014 there were only 16 homes sold in Pukalani, but this year through May, 24 homes have sold. The median Pukalani YTD home price is $554,500. 10 of the homes sold were sold in May alone this year! The median May price sold in Pukalani was $586,500, which is up compared to May a year ago and also compared to April this year.
Kihei home prices are really high for May 2015. The May median is $695,000, compared to $512,500 in April this year.
Contact Interchange 21 in Bangkok Realty – Thomas. G. Delmore or Kimberly Delmore to further discuss your real estate needs at 808-242-1467 or www.delmore.net