Last week, the Realtors Association of Maui released their “official” August Maui Real Estate Statistics. There isn’t a whole lot of data new to report above and beyond what we provided in our unofficial statistics earlier in the month. The one metric that I continue to follow closely is the inventory of homes, condos and land for sale. As it stands, decreases in inventory continued in both the home and land market. The condo market saw a slight uptick in inventory.
The overall decrease in inventory has caused a scarcity of property in certain segments of the Maui market. The inventory below the market median is particularly scarce. It will be interesting to see what happens this Fall. We have been anticipating more bank owned properties. Could that finally be coming to fruition? There appear to be some anecdotal evidence that there are more bank owned properties coming on the market. That may be worth another blog post in the next couple of weeks to explore if the uptick is real or perceived. In our own office, we have listed a few properties in the last two weeks with a few more forthcoming this week. It is worth remembering that fall is also the slowest time of year for the Maui Real Estate Market. Decreased demand may provide some opportunity for inventory to replenish. We will continue to monitor inventory dynamics on The Maui Real Estate Blog. Contact The Maui Real Estate Team if you have questions on the market or need assistance buying or selling Maui Real Estate.