Here at Maui Luxury Real Estate Team, we don’t just deal with Hawaii oceanfront property and luxury real estate in Maui, we also deal with keeping an eye on the overall market so we can inform interested home buyers and sellers about the state of our island and what you can expect. We believe being educated is a necessity and will help you in the long run to make the best decision for yourself and your wallet. That is why each month we like to report on the latest Maui real estate market trends. And in November, it looks like the overall market in West Maui remained strong with condo prices dropping some across the board.
Find your dream home today:
Search Real Estate on Maui
According to the latest report from the Maui Realtors Association, sale prices were reported to be slightly lower in some areas. In places such as Honokowai, Napili, Kahana, for instance, condos were selling for a cheaper price than the same time last year or the month before. The report states that the median sales price in November was $399,000 for 21 homes sold compared to $515,000 of November of the previous year. Last month the median sales price was also higher for $473,800.
Condo prices in Lahaina also experienced a slight decrease. Condo sales for November in Lahaina were reported at $466,852. In October, the median sales price in the same area was $690,966 and in November of the year prior that number was around $670,000. So what does this mean for you as a potential buyer or seller? It means it is the perfect time to buy, and perhaps even more of an important time to sell before prices drop even more! Contact us if you are ready to explore either of these options and one of our agents will be ready to help you.
Get the latest Property Stats
Maui Real Estate Market Trends
The housing market is looking good as well for the west side. One single family home in Kaanapali sold for $3,250,000 and another home sold in Kapalua for $2,550,000 and two homes sold in Lahaina for a median sales price of $846,000. Looks like West Maui continues to top the market in terms of prices and sales in Maui and it’s no wonder why. With its amazing multi-island views of Lanai and Molokai, the West Maui Mountains and access to some of the best beaches in the world, the real estate market here will likely never go south so keep your eyes peeled for your potential luxury home and give us a call when you find the one for you. And as for Maui as a whole, it looks like new listings increased for condos on the island to 23.7 percent in November. Pending sales also increased to about 22.9 percent.
See what our clients have to say about us: Client Testimonials
That’s your monthly round up for the real estate market on Maui. Keep checking back for more information each month. ALOHA!