The December statistics are in from the Maui Realtors Association. All of you savvy investors can now see how the year finished out for the Maui real estate market. This information can be invaluable in helping you make future buying and selling decisions, and the findings in the report were interesting.
What stands out the most is year-to-date trends, which provide a much more reliable picture than what we see in month to month fluctuations. Maui home sales jumped by 15 percent in 2015, compared to the year before. While it’s true that our market is prone to statistical swings because of its small size, 15 percent is still significant, especially because it’s based on a full year of data. The report revealed that sales tallied up to 1,089 compared to 944. Single-family home prices increased by 2 percent from $570,000 in 2014 to $580,000 in 2015.
As for condos, both sales and prices remained about the same between 2014 and 2015. There were 1,203 condos sold in 2014 and 1,199 sold in 2015. Median prices were down 1 percent from $415,000 in 2014 to $410,000 in 2015.
If you’re curious about December’s performance, specifically, single family home sales reached 92, which was up an impressive 46 percent from the 63 homes sold in December of 2014. Median prices settled at $545,788, which was down 3 percent from $565,000 in December of 2014. Condo sales fell 19 percent with 101 sales, compared with 125 sales. However, condo prices rose by 7.9 percent from $380,000 in December of 2014 to $410,000 in December of 2015.
In light of this information, if you’d like to move forward with your Maui real estate plans this year and you would like expert assistance, you’ll find our contact information at the bottom of the page. We hope this year brings you fulfillment and success. Mahalo!