Official August 2011 Maui Real Estate Statistics

Last week, The Realtors Association of Maui (RAM) posted their Official August 2011 Maui Real Estate Statistics. Their numbers mirrored what I had posted earlier in the week in our “Unofficial August Statistics.” The official data also offers a greater levels of detail with community level sales figures and historical data for background. RAM also keeps track of the current inventory. This is a metric that could provide clues as to when the market might turn around or at least stabilize. Prior to last month, we had seen an overall trend of shrinking inventory. The number of properties for sale has dipped anywhere between 12% and 23% depending on the property type. There was a brief uptick in inventory reported in the July Official Stats, but the reduction in inventory resumed again in August. One thing to note, fall is a time where inventory typically decreases on Maui. Fewer properties are listed and some sellers pull their homes off the market during the fall. This is our slow season for tourism and our slowest season for real estate. The reduced inventory is offset by reduced demand. Contact the Maui Real Estate Team if you have questions on the market or for assistance buying or selling Maui property.