Maui Real Estate
Lets start off by how the island did as a whole this past week:
New escrows had a major increase this this past week 51 versus 39 from the week before. Total pending properties declined from the week before, while active inventory increased minimally compared to the week before in the categories I track.
Total Active Listings (Res, Condo, Land) this week is 591 versus 588 last week across the whole MLS, and Total Pending (Res, Condo, Land) is 385 versus 392 last week, up from the week before.
There were 30 price changes in the last 7 days and 29 of those were price decreases.
There were 53 new listings (Res, Condo, Land) this past week and 4 have gone pending within the first week of listing.
51 new escrows this past week on Maui in the markets I track. 24 Condos, 25 homes, and 2 land parcels.
And now for South Maui:
As you can see from the graphics above, condominiums are still the leading type of property sold in South Maui in terms of number of properties. Vacation rentable two bedroom units priced at about a million dollars, give or take are where buyers want to be. As for single family residences, we are seeing price reductions because many of those homes are still priced at winter 2022 prices. Not all neighborhoods are million dollar neighborhoods. It will be interesting to see how our real estate market plays out for the rest of the summer.