Maui Real Estate Blog
Official June 2010 Maui Real Estate Statistics
Yesterday, the Realtors Association of Maui released the official June 2010 Maui Real Estate Statistics. The official statistics includes some sales that had not been reported as of the time that I posted my unofficial statistics for the month of June. Home sales rose from 73 to 77 with the median price also rising to $499,000 from $495,000. Condo sales increased from 103 to 105 with the median price rising to $430,000 from $425,000. Land sales were unchanged from what I reported in the unofficial statistics.
In addition to the updated stats, the official numbers also include historical data, community level data and overall sales data for the first half of the year. The first half of the year sales data shows how how much sales volume has improved when compared to the absolute doldrums of the first half of 2009. The increase in activity was the main focal point an article today’s Maui News. Home sales volume was up 42.6% and condo sales volume was up 63.6% respectively over the first six months of 2009. At the same time, median prices continued to adjust downward.
In addition to the medians and sales totals, I always look at an additional metric in the official statistics. Terry Tolman, RAM executive, also publishes the total inventory in each property classification. There was a negligible uptick in home inventory with only one additional unit over the end of May. There was a decrease in condo inventory. Ten additional land listings came on the market. I have always viewed a reduction in overall inventory as a necessary component for market recovery and price stabilization. Without further ado, here are the official June 2010 Maui Real Estate Statistics.