Last week, the Realtors Association of Maui posted their official June 2012 Maui Real Estate Statistics. As with last month, their numbers were pretty similar to what I came up with in my Unofficial stats. As with last month, I am counting one additional condo sale over what the official stats indicate. Without going through the sales line by line, I surmise that there may be a residential condo sale that was reported under both home and condo closes in our database.
When I first saw the official stats, the first thing I did was turn to the statistics overview where RAM Executive Terry Tolman reports on monthly inventory levels. The shrinking inventory trend continues with the number of homes, condo and parcels of land for sale all lower this month. This has been a subject of discussion on The Maui Real Estate blog statistics posts for some time. It was surmised that the shrinking inventory would be source of price stabilization. That is occurring to an extent in some, but not all of the market segments. The other effect is frustrated buyers. Many buyers are having a hard time identifying properties that meet their needs among the shrunken inventory. Patience may well be required as you wait for the right property to come to market. Once that property does come to market, buyers should be prepared to act quickly if the property is well priced. These challenging conditions make it important to find good buyer representation. Contact The Maui Real Estate Team to help find your ideal property.