The Coconut Chronicles

The MauiRealEstate.com Newsletter

Volume 15 » page 3...

• The Coconut Chronicles, Volume 15
• Billy & Pete's Picks: Country Living on Maui
  • Opana Orchards
  • Ka'anapali Coffee Farms
  • Haiku Acreage
  • Kula Gardens
• Buyer's Guide ~ page 2
• Taste of the Tropics: Grilled Hawaiian Chicken
• Coconut Cultural Calendar
• Maui Real Estate Market Update ~ page 3

Maui Real Estate Market Update

While monthly real estate statistics on Maui tend to fluctuate due to our small market size, looking at Maui Real Estate statistics over months and years can reveal broader trends. Over the last few years, the trend has been markedly upwards. Over the first four months of the year, changes in the market are starting to become apparent. Statistics will often lag a little behind the market. The increase in new listings in the end of 2005 was the first sign of a market change. The April statistics provide the clearest glimpse yet in market changes. The most glaring of which is monthly sales volume. There were 68 homes sold in April of 2006 compared to 116 sold in April of 2005. There were 222 condo sales in April of 2005. The numbers for April of 2006 were down to 111. May had similar statistics with volume of sales down from the same time last year. The one apparent anomaly was that median sales price increased in the condo market and among homes in some communities. The big increase in the condo market can be attributed largely to Wailea Beach Villas. Sales in this high end development played a big role with a number of closes in the $2,000,000 + range. Increases in sales prices in the Napili Condo market and Haiku Home market can not be as easily explained. More sellers and less buyers generally results in some measure of decreases. Thus far, this does not appear to be the case. It will be interesting to monitor this phenomenon over the next couple of months.

Click here to see all of the Maui Board of Realtor Statistics including statistics for regions of the island.

May 2006		Days on Market	Median Price
Total New Listings	172
Homes Sold	84	122	$727,000
Condos Sold	135	132	$590,000
Vacant Land Sold	17	173	$640,800

May 2005		Days on Market	Median Price
Homes Sold	110	132	$780,000
Condos Sold	175	111	$350,000
Vacant Land Sold	32	181	$793,750

 

April 2006		Days on Market	Median Price
Total New Listings	155
Homes Sold	68	110	$690,000
Condos Sold	111	121	$539,000
Vacant Land Sold	20	131	$735,800

April 2005		Days on Market	Median Price
Homes Sold	116	110	$674,000
Condos Sold	222	113	$329,500
Vacant Land Sold	26	139	$547,500

 

March 2006		Days on Market	Median Price
Total New Listings	183
Homes Sold	107	134	$725,000
Condos Sold	143	127	$530,250
Vacant Land Sold	39	104	$701,000

March 2005		Days on Market	Median Price
Homes Sold	123	123	$635,000
Condos Sold	182	104	$416,250
Vacant Land Sold	41	76	$415,000

 

February 2006		Days on Market	Median Price
Total New Listings	183
Homes Sold	59	132	$680,000
Condos Sold	116	152	$438,325
Vacant Land Sold	34	75	$800,000

February 2005		Days on Market	Median Price
Homes Sold	81	153	$575,000
Condos Sold	149	140	$353,523
Vacant Land Sold	23	179	$550,000

 

January 2006		Days on Market	Median Price
Total New Listings	200
Homes Sold	86	121	$690,500
Condos Sold	129	103	$440,000
Vacant Land Sold	28	558	$430,000

January 2005		Days on Market	Median Price
Homes Sold	98	132	$632,500
Condos Sold	99	102	$430,000
Vacant Land Sold	31	255	$584,100

Thank you again for taking the time to read the Coconut Chronicles. As always, feedback and questions are most appreciated.

If you know anyone else who might enjoy these articles, please feel free to forward a link to this page.

Warmest Alohas,
Pete and Billy Jalbert
The MauiRealEstate.com Team

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