The Realtors Association of Maui (RAM) has posted their official statistics for the month of March. There were a few minor changes from what I reported last week in my Unofficial March Maui Real Estate Statistics. We saw one additional condo sale and one additional home sale reported after my statistics raising sales numbers to 122 condos sold and 70 homes sold.
As usual, the RAM stats provide historical data and community level sales allowing for a few additional insights. That being said, community level stats are drawing from a small pool of data. The sample size can lead to a skewed perspective. It is also worth taking the time to review RAM executive Terry Tolman’s insights. One thing that I have been keying on of late is the size of inventory. Terry has been tracking monthly inventory for homes, land and condos. Generally, shrinking inventory is a good trend for adding additional stability to the market. Through the latter half of 2009, we saw market inventory shrink. The first couple months of the year saw an increase in inventory. March was a mixed bag with homes and land inventory increasing and the condo inventory decreasing. We will continue to monitor this trend. Without further ado, here are the Official 2010 March Maui Real Estate Statistics.