House and condo sales up from last September
The median sales price of a home in Maui County in September rose 10.6 percent to $470,000 compared to September 2012, while the number of condominium sales for the month nearly doubled from the previous year to 117 units, according to the Realtors Association of Maui report released Thursday.
There were eight more single-family home sales, or 85 total, in September compared to the year before, with a spike in sales in Central Maui, up 15 units to 38, and an increase of four units in Kihei to 13. The median prices were $417,454, up 26.4 percent, and $580,000, up 12.8 percent, respectively.
For condos, dollar sales volume for the month jumped 117 percent from September 2012 to $63.9 million. Sales for the month were led by Kihei with 38 units, about 175 percent more than last September; Napili/Kahana/Honokowai, 22; and Central Maui, 21.
The median price for condos for September was $350,000, up 7.7 percent from last year. Median prices were $339,500, up 54.3 percent from last year for Kihei; $350,000, up 29.7 percent for Napili/Kahana/Honokowai; and $255,000, up 339.6 percent for Central Maui.
While there were significant gains across the board in September, the real estate data were not as strong month over month. Median prices for single-family homes and condos in September were down from August. For homes, the drop from the previous month was 17 percent, and for condos, the numbers were down nearly 20 percent.
The median price declines occurred despite a slightly higher number of sales.
Looking at the first nine months of this year, the median sales price for single-family homes was up 16 percent to $531,000 compared with the same period last year. Sales were up 11 percent to 747 units. The dollar sales volume rose 24 percent to $578 million.
For condos, the median price for the first three quarters was $375,000, up 7 percent from 2012.
Sales rose 11 percent to 1,014 units, and total dollar volume was up 32 percent to $552 million.
There were 151 land sales for the first nine months of 2013, up 30 percent from the same period in 2012. The median price was $400,000, up 14 percent.
The number of days properties were on the market has fallen since September 2012. Residential homes were on the market for an average of 115 days, down from 140 days last year. Condos were on the market for 156 days, down from 172 days last year.
Bank and short sales continue to fall. For single-family homes, the percentage of sales in those categories were down to 21.4 percent; it was 39.1 percent a year ago. For condos, the percentage was 10.4 percent, down from 28.3 percent last year.
For the complete results, see www.ramaui.com/content/4921d233da006/Market_Statistics.html.
* Lee Imada can be reached at email@example.com.
There were some errors in a story Saturday that began on Page A1 and continued to A2 on real estate data for Maui County. The correct information was that:
* The median price for a home in Kihei for September was $580,000, down 12.8 percent from last September.
* Comparing September median prices to August’s, there was a 17 percent decline for condos and a nearly 20 percent decline for single-family homes.
* The data for bank and short sales were for the month of September.
The Maui News apologizes for the errors.