Maui Condo Sales Soared in April - Sakamoto Properties

Maui Condo Sales Soared in April

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May 18, 2018

Condominium sales made a splash here on Maui last month, according to the recent report released by the Realtors Association of Maui (RAM). We saw double digit gains, compared to sales in April of last year. Homes saw a dip in sales, but year-to-date sales remain higher than last year. Both homes and condos had modest median price gains, which is just what investors like to see over time. If you’re thinking about buying Maui real estate, the following details from the report may be helpful in terms of getting a feel for the market.

Homes on Maui saw 91 sales in April, which was 7.1 percent down from the 98 sales in the same month last year. Meanwhile, the median price of a Maui home was $725,000, a 7.7 percent increase compared to $673,000 in April of last year.

As for condominiums, April saw no less than 174 sales, which was up an incredible 48.7 percent compared to the 117 units that sold in April of 2017. The median price settled in at $508,513, a 3.8 percent gain from the $490,000 of the same month last year.

The months have really flown by, and we already have the first four to contribute to year-to-date statistics, which tend to portray the most accurate picture of Maui real estate trends. Although it’s still early in the year, what we’re seeing so far is slow but steady growth.

Single family home sales are up a respectable 13 percent at 375, compared to the same period last year, which saw 332 sales. Condo sales are up 19 percent at 546 total, compared to 459 year-over-year.

Median prices were also up for both homes and condos. For homes, that figure is $688,025, up 0.4 percent compared to $685,000 in the same period last year. For condos, the median price is $492,250, up 2.3 percent from $481,125 in the same period last year.

This kind of steady growth that we’re seeing in the year-to-date reports continue to confirm economist’s predictions for continued growth in the Maui real estate market. Whether you’re exploring Kapalua homes for sale, Kaanapali condos for sale, or  properties anywhere else on the island, we’ll be happy to put our expertise to work for you.

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