West Maui Real Estate Statistics for May 2018 - Sakamoto Properties

West Maui Real Estate Statistics for May 2018

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June 16, 2018

Maui home and condo sales rose in May, while prices remained flat, according to the Realtors Association of Maui. That’s island-wide data, and while we’re going to go over the numbers as usual, we’re also going to touch on the data for the Kapalua, Kaanapali, Lahaina, and Napili/Kahana/Honokowai areas.

According to the report, Maui home sales rose 15 percent, with 109 home sales in May of this year, compared to 95 in the same month last year. The median price of a single-family home remained flat at $695,000, which was a 0.7 percent decline from $700,000 in the same month last year.

Condo statistics told a similar but more dramatic story. Sales leapt 31.5 percent on 171 sales, compared to 130 sales in May of last year. The median price of a Maui condo was $475,000, exactly the same median as it was in May of last year.

Being that we’re already five months into 2018, the year-to-date trend is starting to show its substance. Home sales tallied up to 511 so far this year, which was down 4.5 percent from 535 in the same period last year. The median price of a single-family home was exactly the same at $690,000. As for condos, sales have risen sharply, with the final count at 719. That’s up an impressive 22.1 percent from 589 sales in the same period last year. The median price of a condo was $720,563, up 7.4 percent from $671,010 in the same period last year.

Here is a breakdown of the West Maui real estate market performance in each of the major areas in May, with the numbers from last year for comparison. A couple of changes in particular stand out. Kapalua condos saw a significant increase in median price, on higher sales, while Kaanapali homes and condos both saw increased sales. Just keep in mind that if the Maui real estate market is small, these areas are tiny in terms of statistical data sets.


Kapalua
May 2018
Median home price was $1,525,000 on 6 sales
Median condo price was $2,272,500 on 6 sales

May 2017
Median home price was $1,200,000 on 1 sale
Median condo price was $902,500 on 2 sales

Kaanapali 
May 2018
Median home price was $3,393,250 on 3 sales
Median condo price was $733,500 on 24 sales

May 2017
Median home price was N/A on 0 sales
Median condo price was $858,750 on 16 sales

Napili/Kahana/Honokowai
May 2018
Median home price was $900,000 on 3 sales
Median condo price was $500,000 on 25 sales

May 2017
Median home price was $1,190,000 on 2 sales
Median condo price was $447,500 on 20 sales

Lahaina
May 2018
Median home price was $710,000 on 7 sales
Median condo price was $461,250 on 10 sales

May 2017
Median home price was $1,750,000 on 9 sales
Median condo price was $366,000 on 8 sales


Keeping an eye on the market trends can present opportunities and help you make informed investment decisions. For more details, you can view the report here. If you’d like to take the next step and get professional assistance with your Maui real estate plans, feel free to contact us. We would be delighted to assist you in turning your ambitions into reality. Mahalo!



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