The September Real Estate Maui Real Estate Sales Statistics by the Realtors Association of Maui showed a median price of $437,500 for all of Maui County homes reported sold in the MLS, which was a decline from August ($520,000) but up from the previous month ($412,000). Condo median prices on Maui for the month were $339,563.

More notable, however, is the continuing trend of record low inventory. As of October 10, 2012, 642 listings were active, pending or contingent in the MLS. A year ago there were 801 active listings, which was already considered low, and the trend has been steadily down over since. Agents are saying there is just “nothing” for sale, and what hits the market likely gets multiple offers if it is well-priced. The absorption rate is 8.4 months for homes. For condos, there were 883 units for sale as of Oct 10th, down from 1,096 in October 2011.This is 13.5 months of inventory based on September sales.

Some of the interesting Year to Date (YTD) #s are as follows:

Haiku’s YTD homes sales are up 45%, with 55 units sold through September, compared to 38 a year ago, at an almost steady median price of $670,000 compared to a year earlier. Kaanapali’s median prices is up 17% to $1.29 million, but the # of sales are down by a third (31%) at 30 transactions closed YTD v 29 a year earlier. And, no single family home sold in Kaanapali in all of September. Home sales in the Napili/Kahana/Honokowai district are up YTD by 16%, at 37 closed, at a median price of $620,000 (up 4% YTD). For all of Maui, the YTD median sales price of homes is up 7% to $460,000.

In Fee Simple condo sales, which make up the bulk of condo sales, the median sales price is up YTD to $360,000, up 7% compared to same period a year ago. Kihei is the district with the most Fee Simple units sold so far YTD, and 298 units have sold (down 9%) compared to a year earlier. FS condo sales are up in Kapalua by 57%, with 33 having closed through September YTD, at a median of $565,000.