Maui Real Estate
First of all, here's how Maui as a whole did this past week:
New escrows were down sharply this past week 18 versus 44 from the week before. Total pending properties overall went up from the week before while active inventory in condos increased and single family homes were the hot sellers this past week.
Total Active Listings (Res, Condo, Land) this week is 577 versus 551 last week across the whole MLS, an increase of 26 units and Total Pending (Res, Condo, Land) is 344 versus 364 last week, an decrease of 20 from the week before.
There were 32 price changes in the last 7 days and 32 of those were price decreases with one listing slashing it asking price by 50%.
There were 55 new listings (Res, Condo, Land) this past week and only 1 has gone pending within the first week of listing.
18 new escrows this past week on Maui in the markets I track. 15 Condos, 5 homes, and no land parcels.
And now South Maui. Things to notice in terms of price reductions, no condominiums lowered their pricing. 2 new listings over $10,000,000. And 9 of the 16 closings this past week were conventional loans. To me, that just shows how strong South Maui's real estate market continues to be. Even with rising interest rates.
54 single family homes are on the market in South Maui. List prices range from $720,000 to $26,500,000. Median list price is $2,295,000. 82 Condominiums are active on the market ranging in price from $460,000 to $18,000,000. Median price is $924,750. 15 parcels of land round out the South Maui market. Prices range from $990,000 to $18,500,000. Median price is $3,950,000.