According to the Realtor’s Association of Maui (RAM) Maui County saw a massive spike in condo sales for the month of April with almost four times the number of sales than the same month last year.
The total number of condo sales was 158 last month, which consisted of 152 units on Maui and six on Molokai. Last year only 41 units sold in April.
There were 45 developer sales in the Honua Kai project, which we’ve talked about in prior blogs. If those particular sales were not counted, there were still nearly triple the number of condo sales this April as opposed to last April.
Of course increased sales means increased listing prices, so the average condo price rose from $410,000 to $455,000 year-over-year. That’s an 11 percent increase. According to RAM, the Honua Kai developer sales ranged from $573,300 to $4.5 million which had a significant influence over those prices.
Sales jumped for single-family homes in Maui County as well. In April of last year, only 50 homes were sold, but in April this year, 88 houses sold. These numbers include two Lanai homes and four Molokai homes. Average home prices still decreased further from $497K to $477,500 year-over-year.
This change is extremely exciting. So we’re seeing a clear and large increase in condo sales, home sales, hotel occupancy and visitor spending in Maui County. This news isn’t particularly surprising, but it is great to hear.
As for Maui real estate sales, we recommend a look at Kaanapali Alii condo sales. We can provide you with all the information you need on the incredible units there. Also, we can direct you to Kaanapali Alii vacation rental information. Take a look at Kaanapali Alii photos to see for yourself what an amazing spot this is.
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