Maui Real Estate

Mar: 21

Maui Real Estate—February 2011 Sales Statistics

The Realtors Association of Maui (RAM) recently released their sales numbers and analysis for February 2011. It’s always insightful to see what on Maui is selling and what isn’t. Please take a look at RAM’s February 2011 publication—you’ll certainly learn something.

Here are my top 10 takeaways:

1. Single family home sales this past month totaled 57.
2. Condos sold= 95
3. Parcels of land sold= 7
4. Median price of homes sold decreased from $495,415 to $440,000
5. Median price of condos sold increased substantially from $295,000 to $376,000
6. The Maui Real Estate Market is small, so the median price from one month to the next can be easily affected by one big sale.
7. Days on market= 149 for homes, 196 for condos, and 180 for land. *This is the average days on market for properties that sold.
8. Short sale transactions can sometimes take 4 to 6 months, thus extending the average days on market numbers.
9. Total sales on Maui for the past 12 months: Residential= 821, Condo= 1,161, Land= 124
10. Interest rates are near an all time low… With prices being down too, there are some awesome opportunities to get involved in Maui’s real estate market.