Maui Real Estate Market Update: December 2023 Market Overview
The Honolulu Board of REALTORS® reports that O‘ahu home sales fell by more than a quarter in 2023, with single-family home sales falling 26.3% and condo sales falling 28.0%.
In December, there were 272 new listings for single-family homes and condominiums. Compared to this same time last year, that is an increase of 28.9%. Currently, there is a 5.0-month supply of inventory for both single-family homes and condominiums.
In December, there were 57 single-family homes sold, which is up from November, when there were 47 sales. This represents a decrease of 13.6% when compared to December 2022.
There were 94 condos sold last month on Maui, up from 53 sales in November. When compared to this time last year, this represents an increase of 36.2%.
The average days on the market for single-family homes increased in December to 89 days. This
represents a decrease of 12.7% when compared to December 2022.
The average number of days on the market for condos increased from 63 days in November to 67 days in December. This represents an increase of 6.3% when compared to this time last year.
In December, the median sales price for single-family homes on Maui was $1,200,000, compared to $1,100,000 in November. This represents an 11.0% increase when compared to December 2022.
For condos, the median sales price last month decreased from $890,000 in November to $850,000 in December. This represents an increase of 10.4% compared to this same time last year.