Maui Single Family Home Report For March, 2020:
This is the March, 2020 real estate market report for single family homes sold on Maui Hawaii through February, 2020.
In February 83 single family homes sold on Maui with a median price of $747,150 and an average price of $976,365. At the end of February there were 456 single family homes for sale on Maui which is approximately 4.6 months of inventory. Wailuku had the highest number of sold homes with 23 in February while Kapalua had the highest median sale price for sold homes with a median sale price of $2,450,000 in February.(Only 1 home sold in Kapalua during February, 2020)
Through February, 168 single family homes have sold on Maui with a median price of $754,180 and an average price of $970,705. The median sale price has increased 1.7% during 2020. The average sale price has decreased 10.25% during 2020. Wailuku has the highest number of sold homes with 48 in 2020. Kapalua has the highest median sale price for sold homes with a median sale price of $2,235,000 in 2020. The average Days On Market for sold homes on Maui is 145 during 2020. Maui homes are selling for an average of 97.6% of list price during 2020. With it being two months into the year there is not enough data to support any new trends.
2019 Maui Single Family Homes: 1,117 single family homes sold on Maui 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 5.7% during 2019. Wailuku had the highest number of sold homes during 2019 with 248 total sales while Kapalua had the highest median sale price for sold homes with a median sale price of $2,550,000 through during 2019. The average Days On Market for sold homes during 2019 was 133 days. Homes sold for an average of 96.7% of list price during 2019.
*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 currently considered nonessential throughout Maui County no showings of homes or condominiums are currently allowed. This will affect pending home sales for March, 2020 and closed sales starting in April, 2020. We will likely see a decrease in listings starting in March 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.
Maui Home Sales February, 2020:
Maui Home Sales Year To Date Through February, 2020:
