Maui Real Estate Blog
Official March 2012 Maui Real Estate Statistics
Last week the official March Maui Real Estate Statistics were released by The Realtors Association of Maui (RAM). The numbers that they released mirror what we posted earlier in the month via our Unofficial Stats. The official stats provide a little more granularity with community level data. They also provide monthly data going back to January 2007 for additional context.
If you have read these official posts before, you might know the one other thing that I like to look at with the RAM stats is their inventory tracking. RAM executive Terry Tolman publishes the current volume of listed inventory for homes, condos and land. The general trend has been shrinking inventory. This month, we saw a slight uptick in home inventory and a slight decrease in condo and land inventory. We are seeing the impact of inventory on the low end condo market where there has been a modest in prices. Scarcity and positive rent vs. buy comparisons have finally brought some pricing stability to this hard hit segment of the Maui Real Estate market. Inventory is likely to remain an important factor in market dynamics. There has been some rumbling that we may see an uptick in bank owned inventory coming to the market this summer. It will be interesting to see if this is true, and if it would be sufficient to have an impact on market dynamics. We will continue to monitor market inventory on the Maui Real Estate Blog. Contact The Maui Real Estate Team with questions or the market or for assistance buying or selling Maui Real Estate.
Maui Real Estate Blog
Official January 2012 Maui Real Estate Statistics
It continues to be a busy February for the Maui Real Estate Team. Day to day work has made it a challenge keeping up with the blog of late. While I was able to get out the Unofficial January Maui Real Estate Statistics, I am at least ten days behind schedule in posting the Realtor Association’s official stats. Without further ado, here are the official January Maui sales numbers. There were no big changes when it comes to median prices or sales volumes from what I posted earlier in the month. However, the official stats provide some additional granularity at a community level. I also follow the inventory tracking that is published as part of the RAM stats. It appears as if land and home volumes continue to shrink while condos saw an uptick this month.
While the general trend has been a shrinking of inventory in the Maui Real Estate market, not all segments are equal. There is extremely limited supply for segments like entry level condos. On the other end of the spectrum, the overall land market has five years plus of inventory based on current rates of sales. We are seeing some upward pressure on prices for the segments with very limited inventories. Property types and geographies with more selection are seeing continued downward adjustments. Contact The Maui Real Estate Team for more information on areas of the Maui market that interest you.