Maui Single Family Home Report For May, 2020:
This is the May, 2020 real estate market report for single family homes sold on Maui Hawaii through April, 2020.
In April 84 single family homes sold on Maui with a median price of $744,523 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. Wailuku had the highest number of sold homes with 16 in April while Wailea/Makena had the highest median sale price for sold homes with a median sale price of $2,475,000 in April.
Through April, 342 single family homes have sold on Maui with a median price of $762,000 and an average price of $1,042,485. The median sale price has increased 2.8% during 2020. The average sale price has decreased 3.6% during 2020. Wailuku has the highest number of sold homes with 77 in 2020. Kapalua has the highest median sale price for sold homes with a median sale price of $2,450,000 in 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 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 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.
***Current data shows that pending sales for Maui single family homes will be below normal for May.
Maui Home Sales April, 2020:
Maui Home Sales Year To Date Through April, 2020:
