June 2008 Official Maui Real Estate Statistics

The official June 2008 Maui Real Estate statistics came out today. As I mentioned in my unofficial June stats blog post from last week, this proved to be a slow month. There were no other big changes with the official data. The official stats just gives a little more granularity on individual communities and it offers a historical perspective on the market. With data going back to January of 2003, June had the lowest real estate sales volume over that that time span. Condos proved to be particularly slow with only 53 total condo sales in the county. What does this mean for buyers? Well qualified buyers will find there are opportunities as prices are adjusting in almost all segments of the market. We aren’t seeing a big drop in median prices, but there are motivated sellers going below recent comparable sales. Sellers will need to take the current pace of the market into consideration when pricing their properties. Those that price at or below recent comparable sales are going to better their odds of a successful sale. Here is a link to a pdf of the June 2008 Maui Real Estate Statistics.