In the last month, we have seen a significant decrease in the number of single-family homes sold on Maui, and an uptick in the median sales price for single-family homes. As home prices climb, more buyers may be opting to buy condos instead of single-family homes. In September, there were 87 single-family homes sold, which is a decrease of 28.7% compared to August 2021. There were 104 condos sold last month on Maui, representing a 45% decrease when compared to this time last year.
The average days on the market for single-family homes increased slightly from 77 days in August to 82 days in September 2022. This represents an increase of only 15.5% compared to last year. The average days on the market for condos decreased when compared to August from 72 days to 63 days in September. This represents a decrease of 14.9% when compared to this time last year.
The median sale price for single-family homes in Maui was $1,025,000 in September 2022, which is an increase when compared to August 2022 when the median sales price was $983,575. Compared to last year at this time there has been a 3% increase in the median sales price. For condos, the median sales price last month decreased slightly from $814,190 in August to $800,000 in September. This represents an increase of 9.7% compared to this time last year.