Maui Land Report For August, 2020:
This is the August, 2020 market report for land sold on Maui Hawaii during July, 2020.
Maui Land Sales July 2020: In July 13 parcels of land sold on Maui with a median price of $455,000. At the end of July there were 261 parcels of land for sale on Maui. Kula/Ulupalakua/Kanaio and Haiku had the highest number of sold vacant parcels with 4 sold properties for each area during July. Spreckelsville had the highest median sale price for sold vacant land on Maui with a median sale price of $2,750,000 in July. One parcel of land sold in Spreckelsville during July.
Maui Land Sales Year To Date: Through July, 83 total parcels of land have sold on Maui with a median price of $409,000 and an average price of $658,198. The median sale price has decreased 18.2% during 2020. The average sale price has decreased 29.2% during 2020. Kula/Ulupalakua/Kanaio have the highest number of sold land during 2020 with 21 total sales while Spreckelsville has the highest median sale price for sold land with a median sale price of $2,750,000 during 2020. Only one parcel of land has sold in Spreckelsville year to date. Maui land sales are down 23.1% compared to the same period through July 2019
Maui Land Sales 2019: During 2019 176 parcels of land sold on Maui with a median price of $500,000 and an average price of $929,401. The median sale price for land on Maui increased 3.6% during 2019. Haiku had the highest number of sold vacant land during 2019 with 39 total sales while Lahaina had the highest median sale price for sold vacant land with a median sale price of $1,504,500 during 2019.
*COVID-19 will likely have an impact on the Maui Real Estate Market. It is too early to tell how it may affect the local market for land. With Real Estate Agents considered nonessential throughout Maui County through parts of March and April no showings of land were allowed. This has affected pending land sales for March and April and closed sales starting in April, 2020. We have a decrease in sold land on Maui starting in May. It may take another 30 to 60 days to see the affect COVID-19 will have on the Maui land sales and land value.
**We are seeing decreased pending sales and recents sales for both homes and condominiums on Maui. We will likely see a similar trend with land.
Maui Land Sales July, 2020:
Maui Land Sales Year To Date Through July, 2020:
Maui Land For Sale