The March statistics from the Realtors Association of Maui (RAM) are in. While condo sales in Maui County were flat, and condo prices fell, single-family home sales rose, and prices rose a little as well.
The further breakdown includes specific sale counts and median prices for both kinds of Maui real estate. For those of you who may not be aware, Maui County includes the islands of Lanai and Molokai.
The total number of single-family home sales in Maui County was 88. One of those sales took place on Lanai and two on Molokai. By comparison, in March of last year, 72 single-family homes sold, meaning we had a 22 percent year-over-year increase in sales. The median price of the single-family home was $450,000, but in March last year, it was $460,000, which is a two percent year-over-year decline.
The total number of condominium sales in Maui County was 124. One of those sales took place on Lanai, and none were sold on Molokai. Compare that to 125 condos sold in March of last year, and you can see there was no growth. As for the median price of a condo in Maui County, prices this past March were $289,000. It may astonish you to know that the median cost of a condo in March of 2010 was $499,000. Yes, you read right. That is a 42 percent year-over-year decline in Maui County condo prices.
If you are considering taking advantage of these low prices, see our Maui condo listings. If you prefer a Maui home, we can help you there too. Want to search Maui real estate based on your own criteria? We have an excellent tool for it that is both convenient and very easy to use. If you need any assistance, you will find our contact information at the bottom of the page. We hope you have found the information in this blog both helpful and interesting. Mahalo!