Similar to neighboring islands, the volume of sales on Maui decreased in June when compared to earlier months this year. This change in addition to the rising interest rates and increase in the number of price adjustments signify the gradual return to a more balanced real estate market.
In June, there were 86 single family homes sold, which is a decrease of 18.9% than those sold last May in 2021. This also represents a slight decrease from May 2022 when there were 99 homes sold.
There were 153 condos sold last month on Maui, representing a 39% decrease when compared to this time last year. This represents a slight decrease of just one unit when compared to May 2022 when there were 154 condos sold.
The average days on the market for single family homes decreased slightly from 77 days in May to 74 days in June 2022. In June 2021, the average days on the market was also 74 days.The average days on the market for condos decreased slightly last month from 66 days in May to 62 in June. This represents a decrease of 19.5% when compared to this time last year.
The median sale prices for single family homes on Maui was $1,252,500, which is a slight increase compared to May when the median sales price was $1,250,000. Compared to last June, there has been a 13.3% increase in the median sales price for single family homes.