I just want to reiterate my best wishes to you all for the rest of the holiday weekend. I hope you are having a great time with family and friends. My wife made her first turkey after 16 years of being married. I have to say it turned out pretty good. Speaking of pretty good, Maui's real estate market did pretty well considering most people's thoughts are elsewhere. This is what happened as a whole:
New escrows were up sharply this past week 33 versus 18 from the week before. Total pending properties overall went up from the week before while active inventory in condos remained flat across all three categories I track.
Total Active Listings (Res, Condo, Land) this week is 579 versus 577 last week across the whole MLS, an increase of 2 units and Total Pending (Res, Condo, Land) is 354 versus 344 last week, an increase of 10 from the week before.
There were 19 price changes in the last 7 days and all 19 of those were price decreases.
There were 45 new listings (Res, Condo, Land) this past week and only 1 has gone pending within the first week of listing.
For the Buyers, the market is not dropping significantly like many of the markets on the mainland. Offers are well under asking price based on what Buyers are hearing and seeing across many markets in other locales, however Hawaii has bucked the trend so far. Prices are down very little, and inventory remains at historical low levels.
33 new escrows this past week on Maui in the markets I track. 19 Condos, 12 homes, and 2 land parcels.
South Maui Real Estate: Thanksgiving Week
This is what happened in South Maui:
55 single family homes are on the market in South Maui. List prices range from $720,000 to $26,500,000. Median list price is $2,495,000. 79 Condominiums are active on the market ranging in price from $460,000 to $18,000,000. Median price is $895,000. 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.