Maui Real Estate: 01/08 to 01/15
The first unofficial week of high season is in the books. As expected we saw several units come to market at high season pricing. We also saw a handful of units go under contract then escrow cancelling later in the week. A whopping 17 properties go under contract and of course several sales. The thing to notice about the sales is there were no sales above asking price but all of the sales were at the list price, some of which were reduced from their original asking price. Here's how it looked....
54 single family homes are on the market in South Maui. List prices range from $850,000 to $26,500,000. Median list price is $2,197,500. 98 Condominiums are active on the market ranging in price from $498,000 to $18,000,000. Median price is $973,750. 18 parcels of land round out the South Maui market. Prices range from $990,000 to $18,500,000. Median price is $2,800,000.
As for the rest of Maui, here's what happened....
New escrows went up slightly this past week 38 versus 35 from the week before. Total pending properties overall went up from the week before while active inventory went up slightly across the three categories I track.
Total Active Listings (Res, Condo, Land) this week is 615 versus 611 last week across the whole MLS, and Total Pending (Res, Condo, Land) is 329 versus 318 last week, an increase of 4 from the week before.
There were 21 price changes in the last 7 days and all 21 of those were price decreases.
There were 49 new listings (Res, Condo, Land) this past week and 4 have gone pending within the first week of listing.
38 new escrows this past week on Maui in the markets I track. 24 Condos, 13 homes, and 1 land parcel.