Maui’s residential sales held steady at 57 homes sold, while condo sales rose to 95 units sold. Land sales came in at 7 lots sold.
February’s Median sales prices declined from January’s $495,415 to
$440,000 while condo median prices rose substantially to $376,000. Land median price was $282,500.
Days on Market for Residential homes = 149 DOM, Condos = 196 DOM, Land = 180 DOM.
Year to Date: Comparing January 2011 to January 2010
Residential unit sales rose (+9%), average sold price = $706,134 (-1%), median price = $450,000 (-7%) and total dollar volume sold = $78,380,919 (+7%).
Condo unit sales increased (+7%), average sold price = $513,007 (-24%), median price = $332,500 (-19%). Total Condo dollar volume sold = $93,367,305 (-19%).
Land Lot sales are such a small sampling that statistics in this property class are not necessarily reliable indicators. Land lot sales increased (-16%), average sold price = $814,739 (+73%), median price = $291,250 (-35%), Total dollar volume = $13,035,826 (+46%).
Total sales for immediately past 12 months: Residential = 821, Condo = 1,161, Land = 124.
Sellers still need to sharpen their pencils because of the high percentage of short sale and bank owned properties for sale. There is still ample opportunity to reach out to those investor/buyers who are on island with cash. For all of your Maui real estate needs, contact Michele Muir White R(S), ABR, SFR , 808.298.8448, email@example.com To access the Maui MLS: www.MauiRealEstateGuru.com