Happy Easter to all of you who celebrate this joyous holiday. I hope your day is filled with laughter, friends, family, love and aloha.
With regard to how Maui's real estate market did this past week:
New escrows were down slightly this past week 35 versus 38 from the week before. Total pending properties were down significantly from the week before while active inventory went up slightly compared to the week before in the categories I track.
Total Active Listings (Res, Condo, Land) this week is 610 versus 606 last week across the whole MLS, and Total Pending (Res, Condo, Land) is 350 versus 361 last week, no change from the week before.
There were 23 price changes in the last 7 days and all 23 of those were price decreases.
There were 45 new listings (Res, Condo, Land) this past week and 3 have gone pending within the first week of listing.
35 new escrows this past week on Maui in the markets I track. 21 Condos, 12 homes, and 2 land parcels.
I think the next few weeks should mirror how the summer market may be. Why? High season is over and we've experienced a significant slow down in the past two weeks. Properties that didn't sell in the past few months are now reducing their pricing. Maybe they should have started out at their current prices and they would have sold. Don't chase the market down. Let's see how South Maui did....
49 single family homes are on the market in South Maui. List prices range from $799,000 to $33,900,000. Median list price is $3,200,000. 90 Condominiums are active on the market ranging in price from $448,000 to $17,500,000. Median price is $918,850. 20 parcels of land round out the South Maui market. Prices range from $399,000 to $18,500,000. Median price is $3,375,000.