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The median sales price on Maui surpassed the million dollar mark last month, at $1,019,000. While economists predicted that this would eventually happen – it is clear that the pandemic has caused this to happen faster than predicted. The median sales price for single-family homes increased to a new high of $1,019,000 last month, a slight increase from April 2021. This price represents a 27% increase when compared to April 2020.
In Maui, the number of single family homes and condos both decreased last month when compared to April 2021. Single family home sales decreased slightly from 134 in April 2021 to 122 in May 2021.
There were 242 condos sold last month, which is a slight decrease from April 2021 when there were 263 condos sold.
The average days on the market for single family homes increased slightly from 73 days in April to 80 days in May. This is a 14.9% decrease when compared to this time last year.
The average days on the market for condos sold last month remained at 94 for the second month in a row. This is a decrease of 13.8% when compared to this time last year.