99 home sales closed in April with a median sales price of $680,000. In April of 2015, 87 homes sold with a median price of $581,000. This is a 14% increase in sales activity and a 17% increase in median price.
125 condo sales closed in April with a median price of $445,000. April 2015, 105 condos sold with a median price of $410,000. This is a 19% increase in sales volume and a 9% increase in median price.
There were 10 land sales with a median sales price of $453,500. Last April, there were 12 sales with a median price of $417,500. This is a 17% decrease in sales and an 8% increase in median price.
Some other noteworthy numbers to look at:
The priciest Maui estate sold for $6,550,000 in April. The property is a 4 bedroom 4 bath Kula Estate with 7,809 square feet of living space, 2 cottages, a 9-car garage & sits on 23 acres of land.
There were 13 Luxury home sales of more than $2M in April. A Luxury Honua Kai Condo sold $5,490,309. This Honua Kai (Ka’anapali) sale was one of 13 condo sales over $1.5M.
So, after all of this being said what are my thoughts on the status of Maui’s Real Estate Market? The Luxury market sales really stood out for me. It will be interesting to see if this increased activity in the Luxury market will keep up.
Also, of note, our highest price median sales price is the second highest median sales price since the recovery of the real estate downturn, due in part to our shrinking inventory of lower priced homes. Rising home values and a tight overall real market have resulted in a shrinking inventory of homes for sale that are priced below $500k. Sales are also upon in the condo market.
Thinking about buying or selling Maui Real Estate? Maui’s real estate market and inventory certainly do vary by locale and price point. Be sure to check in with Michele Muir White R(S), ABR, SFR, Coldwell Banker Island Properties for an indepth analysis of your property. Michele looks forward to be of service to you. 808-298-8448, email: MicheleWhite@hawaii.rr.com