Maui Real Estate Gains in December


January 18, 2013

The latest Maui real estate statistics from the Realtors Association of Maui showed positive growth for the month of December, which is a nice complement to other recent news on Maui’s steady economic progress.

According to RAM, Maui’s residential real estate market gained 25 percentage points in December, compared with the same month in 2011. That includes single-family homes and condos.

Single-family home sales were up a modest 4% with 82 houses sold compared to 79 year over year. Prices were up 24 percent from $411.000 to $511,750, year over year.

As for condos, sales spiked an impressive 55 percent with the sale of 138 units compared with 89 sales in December of 2011. What a substantial difference! Prices were also up 26 percent at $382,450 compared to $310,000 year over year.

These numbers apply to Maui County, which includes Lanai and Molokai. Out of the totals above, two home sales and 12 condos on Lanai were sold. As always we recommend that you take long term trends into account, especially when it comes to a small market like ours where a small number of sales can skew the percentages significantly.

That being said, RAM’s data indicated that Maui’s residential real estate market recorded gains throughout 2012. It has been a slow but steady process, and that is just the kind we like to see. Single-family home sales were up 4 percent, and prices were up 9 percent. Condo sales were up 8 percent and prices were up 16 percent.

Hopefully these positive trends will continue through 2013 and beyond! In the meantime, if you are interested in West Maui real estate, you can find our contact information at the bottom of the page. Mahalo for reading!

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