Maui Real Estate Market Update: February 2024 Market Overview
In February, there were 257 new listings for single-family homes and condominiums. Compared to this same time last year, that is an increase of 29.1%.
Inventory decreased 10.7% for single-family homes but increased 78.8% for condominium homes. In February, there were 62 single-family homes sold, which is up slightly from January when there were 57 homes sold. This represents an increase of 37.8% when compared to February 2023.
There were 66 condos sold last month on Maui, down from 92 sales in January. When compared to this time last year, this represents a decrease of 1.5%.
The average days on the market for single-family homes increased in February to 121 days. This represents an increase of 14.2% when compared to February 2023.
The average days on the market for condos increased from 63 days in January to 71 days in February. However, this represents a decrease of 22.0% when compared to this time last year.
In February, the median sales price for single-family homes on Maui was $1,250,760, compared to $1,342,581 in January. This represents an increase of 15.9% when compared to February 2023.
For condos, the median sales price last month decreased from $795,000 in January to $744,500 in February. This represents a decrease of 18.6% compared to this same time last year.