Here are the island wide Maui sales stats for homes and condos for March, 2020. The sales stats are for homes and condominiums sold on Maui through February, 2020. The amount of single family homes that sold in February decreased slightly compared to January. During February the median sale price for homes decreased slightly. The amount of condominiums that sold in February was slightly higher compared to January. During February the median sale price for condominiums was unchanged.
*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 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.
Single Family Homes:
In February 83 single family homes sold 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.
Through February 168 single family homes have sold 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. 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 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 February 133 condominiums sold with a median price of $569,000 and an average price of $663,474. At the end of February there were 448 condominiums for sale on Maui which is approximately 3.4 months of inventory.
Through February 261 condominiums have sold with a median price of $555,000 and an average price of $684,130. The median sale price has increased 7.7% during 2020. The average sale price has decreased 2.4% during 2020. The average Days On Market for sold condominiums on Maui is 131 during 2020. Maui condos have sold 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 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 decreased 2.4% 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.
