Here are the island wide Maui sales stats for homes and condos for May, 2020. The sales stats are for homes and condominiums sold on Maui through April, 2020. The amount of single family homes that sold in April decreased slightly compared to March. During April the median sale price for homes decreased. The amount of condominiums that sold in April decreased significantly compared to March. During April the median sale price for condominiums increased.
*It is common for home and condo prices to increase this time of year due to it being peak season for Maui.
**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 housing market. With Real Estate Agents considered nonessential throughout Maui County through parts of March and April no showings of homes or condominiums were allowed. This will affect pending sales for March, 2020 and closed sales starting in April, 2020. We will likely see a decrease in new listing activity as well as an increase in listings being taken off the market temporarily or canceled. It may take 30 to 60 days to see the affect COVID-19 will have on the Maui real estate market.
***Condominium sales decreased significantly compared to what we would normally see. Maui condos are often purchased as second properties or investment properties. Reduced flights and required quarantine has prevented many buyers from being able to travel to Maui to view properties. Initial concerns over the economy likely has affected both pending and recent condominium sales on Maui.
Single Family Homes:
In April 84 single family homes sold with a median price of $754,523 and an average price of $1,007,386. At the end of April there were 420 single family homes for sale on Maui which is approximately 4.9 months of inventory.
Through April 342 single family homes have sold with a median price of $762,000 and an average price of $1,042,486. The median sale price has increased 2.8% during 2020. The average sale price has decreased 3.6% during 2020. The average Days On Market for sold homes on Maui is 143 during 2020. Maui homes are selling for an average of 97.2% of list price during 2020.
2019 Home Sales: 1,117 single family homes sold with a median price of $741,355 and an average price of $1,081,560. The median sale price increased 4.4% during 2019. The average sale price increased 5.4% during 2019. The average Days On Market for sold homes on Maui was 133 during 2019. Maui homes sold for an average of 96.7% of list price during 2019.
Condominiums:
In April 87 condominiums sold with a median price of $602,494 and an average price of $987,316. At the end of April there were 540 condominiums for sale on Maui which is approximately 4.7 months of inventory.
Through April 509 condominiums have sold with a median price of $569,000 and an average price of $767,681. The median sale price has increased 10.4% during 2020. The average sale price has increased 9.5% during 2020. The average Days On Market for sold condominiums on Maui is 148 during 2020. Maui condos have sold for an average of 97.5% of list price during 2020.
2019 Condo Sales: 1,606 condominiums sold with a median price of $515,500 and an average price of $700,943. The median sale price increased 7.7% during 2019. The average sale price increased 3.1% during 2019. The average Days On Market for sold condominiums on Maui was 138 during 2019. Maui condos sold for an average of 97.7% of list price during 2019.
