Similar to neighboring islands, there has not been any significant changes in the Maui Real Estate Market last month. While some mainland markets have experienced a slight decline in the pace of the market – the Hawaiian islands have not felt those effects at this time. In Maui, the number of single family homes remained stable last month dropping slightly from 112 home sales in June to 110 sales in July. This represents a 23% increase in the number of sales when compared to this time last year. There were 208 condo sales in July on Maui, this is down from 247 sales in June. Compared to this time last year, this is a 123% increase.
The average days on the market for single family homes decreased again this past month from 74 days in June to 69 days in July. Compared to last July, single family homes homes have sold 35% quicker this July.
The average days on the market for condos sold last month dropped by 20 days last month to an average of 74 days, representing a 14% decrease when compared to this time last year.
While still over one million dollars, the median sales price for single-family homes decreased slightly in July to $1,050,000. This price represents a 34% increase when compared to July 2020. The median sales price for condos was $713,000 last month, representing a 41.2% increase when compared to this time last year.