The real estate market on Maui did not have any major changes last month. However, there was a decrease in the number of new listings last month, dropping from 272 new listings in August to 250 new listings in September. The decrease in new listings does, making it even more challenging for buyers. Last month, there was 1.2 month’s supply on the market, which is down 80% when compared with last year at this time.
In September there were 112 single family homes sold, which is 5% more than there were last September at this time. For condos, there were 182 condos sold in September. This is over 100% more condos sold when there were September 2020. 28% of these condos sold at $1,000,000 or more.
The average days on the market for single family homes was 71 days in September. Compared to last year at this time when single family homes sold at an average of 87 days on the market, this is a decrease of 18.4%.
The average days on the market for condos sold last month was 74 days. Representing a decrease of 18.7% when compared to this time last year.
While the median sales price for single family homes hovers around $1,000,000 there was a slight dip last month when compared to previous months at a median sales price of $996,500. This represents an increase of 27% when compared to this time last year. For condos, there was an increase in the median sales price to a new high of $729,125. Prices are up 46.6% when compared to this time last year.