Earlier this month, the Realtors Association of Maui released their official Maui real estate sales statistics for April 2011. There were a couple of small changes over what I had reported on May 6th in my Unofficial April Stats. There was one more home sale and one less condo sale. The extra home sale is likely due to tardy reporting. I am not sure definitively what accounted for the lower condo sales number. I surmise there may have been a residential condominium property that was listed as both a condo and a home that I double counted in the sales numbers.
The other thing to hone in on with the official stats are the inventory numbers. We saw the inventory drop among homes, condos and land. Condo inventory dropped almost 8% over last month. We have been monitoring inventory numbers with the expectation that reduced supply could impact pricing. The dynamics right now are complex in that we are also seeing a bit of a drop in demand as our peak sales season is now in the rear view mirror. Will the smaller supply be offset by diminished demand? It’s tough to say at this point. Contact the Maui Real Estate Team with questions, for additional information or general assistance buying or selling Maui Real Estate.