Maui Real Estate Blog
Official December 2012 Maui Real Estate Statistics
The Realtors Association of Maui came out with their December 2012 Maui Real Estate Statistics this week. There was only one difference from what we had published in our “unofficial December stats” last week. The Realtors association actually reported two fewer condo sales than we did. They may have researched their numbers a little earlier than us as I have checked the database twice and it appears to match what we published. Regardless, the tenor of the stats was the same with another solid month of sales after a busier than usual fall Real Estate season on Maui.
With the busy winter buying season upon us, I was anxious to look at the Realtor Association’s numbers for inventory on the first page of their statistics. We have seen a steady decrease of inventory for the last eighteen months. Over the last six months, the market has begun to really feel the impact of shrinking inventory. Scarcity at and below the median sales prices for homes and condos have created a competitive market for buyers and set a foundation for price increases in some segments of the market. Per the Realtors Association of Maui, the number of properties listed for sale is lower now in January than what it was in December. This means it will be an interesting buying season. Buyers will need to patient in waiting for opportunities that come on the market. When those opportunities do arrive, they are likely to go quickly.
Contact The Maui Real Estate Team if you have a question on the market or are considering getting your feet wet as a buyer or a seller. We would welcome the opportunity for a free consultation to learn more about your real estate needs. Stay tuned to The Maui Real Estate Blog for more statistics. We still have posts forthcoming on the 2012 year end statistics for Maui and individual island communities.