Thank you to everyone who trusted me to help you with your real estate needs last year. Thank you to everyone who continues to read these market summaries. Thank you for sending me your referrals. In other words....
MAHALO!
Here's how South Maui's real estate market did this past year:
What an amazing year for South Maui's real estate market. As we enter into 2023 my guess is that the vacation rentable condominium market will continue to climb in terms of sales prices. Inventory is still low and they aren't building anymore vacation rentable units. Single family homes and residential condominiums will most likely experience continued price reductions. Land parcels will most likely continue at a normal pace of moving upwards. As long as Maui continues to be a vacation destination and a place where owning property is a jewel of your portfolio, I really don't see our market "crashing". Our current inventory is as follows:
57 single family homes are on the market in South Maui. List prices range from $589,000 to $26,500,000. Median list price is $2,095,000. 91 Condominiums are active on the market ranging in price from $498,000 to $18,000,000. Median price is $925,000. 17 parcels of land round out the South Maui market. Prices range from $990,000 to $18,500,000. Median price is $3,250,000.