As our economy continues to improve; it appears as if the Hawaii real estate market is growing right along with it and Maui is no exception.
According to the July 2019 Maui real estate statistics from the Realtors Association of Maui, homes on the island continue to sell and prices are on the rise. On the island overall, new listings decreased by 11 percent for single-family houses for sale and by 4.3 percent for condominium so inventory has dropped. Pending sales increased by 12.5 percent for single-family houses for sale and by 7.3 percent in condo sales.
Inventory decreased 17.4 percent for single-family residential houses and by 20.4 percent for condos for sale. The median sales price increased by 3.9 percent to $794,500 for single-family homes but decreased by 3.9 percent to $493,000 for condominium. Days on the market fell by 29.5 percent for single-family homes and by 22.2 percent for condos for sale. Months supply of inventory decreased by 19 percent for single-family homes and by 9.3 percent for condominium.
And as for West Maui, Kaanapali homes for sale, there were two houses sold in July for a total of $2,628,750 at a median sales price of $1,314,375. During June 2019, one home sold in this area for $3,100,000 and in July 2018 there were three homes sold for $7,125,000 at a median sales price of $2,050,000.
Kapalua homes for sale, there was one house sold for $2,900,000. During June 2018, there were three houses sold for a total of $5,695,000 at a median sales price of $1,995,000. There were no homes sold in Kapalua during July 2018.
Looking at Lahaina real estate, there were five homes sold for a total of $5,798,000 at a median sales price at $900,000. Six houses sold for $9,901,000 at a median sales price of $1,025,000 in June 2019, and seven sold for $12,630,000 at a median sales price of $820,000 in July 2018.
In Napili/Kahana/Honokowai real estate, three residential homes were sold for $2,759,000 at a median sales price of $920,000. Two houses were sold in June of this year for $2,004,000 at a median sales price of $1,002,000. There were two more sold during July 2018 for $1,685,000 at a median sales price of $842,500.
As for Kaanapali condos for sale, there were nine sold during July 2019 at a median sales price of $950,000 and at a total of $9,023,000. There were 13 condominiums sold during June 2019 for $14,474,167 at a median sales price of $795,000. There were 11 sold during July 2018 for $12,365,999 at a median sales price of $915,000.
Kapalua condo sales show that there were five condos sold for a total of $7,525,000 at a median sales price of $890,000. There were 12 sold during June of this year for a total of $36,530,000 at a median sales price of $2,147,500. Nine were sold during July 2018 for a total of $12,574,900 at a median sales price of $900,000.
In Lahaina, there were 14 condos sold for a total of $8,487,540 at a median sales price of $617,045. During June of this year, there were five condominiums sold in Lahaina for a total of $2,386,360 at a median sales price of $545,000. There were three sold during July 2018 for a total of $1,725,000 at a median sales price of $565,000. In Napili//Kahana/Honokowai, there were 23 condos sold for a total of $11,491,000 at a median sales price of $520,000. There were 21 sold in June 2019 for $8,303,049 at a median sales price of $470,000. In July 2018, there were 20 sold for a total of $9,663,500 at a median sales price of $424,500.
That’s an overview of the West Maui real estate market. For any questions about real estate on Maui, make sure to contact us. We look forward to hearing from you and have a great week.
