Maui Land Report For June, 2020:
This is the June, 2020 market report for land sold on Maui Hawaii during May, 2020.
Maui Land Sales May 2020: In May 6 parcels of land sold on Maui with a median price of $420,000. At the end of May there were 293 parcels of land for sale on Maui. Kula/Ulupalakua/Kanaio had the highest number of sold vacant parcels with 3 sold properties during May. Lahaina had the highest median sale price for sold vacant land on Maui with a median sale price of $1,504,500 in May. One parcel of land sold in Lahaina during May.
Maui Land Sales Year To Date: Through May, 60 total parcels of land have sold on Maui with a median price of $397,500 and an average price of $534,357. The median sale price has decreased 20.5% during 2020. The average sale price has decreased 42.5% during 2020. Kula/Ulupalakua/Kanaio and Haiku have the highest number of sold land during 2020 with 14 total sales while Lahaina has the highest median sale price for sold land with a median sale price of $962,500 during 2020.
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 May, 2020:
Maui Land Sales Year To Date Through May, 2020:
Maui Land For Sale