Median Maui County home prices slip from December
The median price of a single-family home in Maui County fell 6.5 percent to $655,000 in January, compared with December when median prices reached $700,500, according to Realtors Association of Maui statistics.
But, compared with January 2016, the median price has risen 4 percent from $630,000.
The volume of last month’s single-family home sales was down 11 percent to 65 residences that exchanged hands while the total dollar amount for the month was up 24 percent to nearly $66.9 million, the association reported.
The most active area for single-family home sales was Central Maui, where 24 units were sold, although that was two fewer (down 8 percent) than in January 2016. The median price for a Central Maui single-family home was $572,778, a 3 percent increase.
No other area had double-digit sales. The second most single-family home sales were in Kihei, where eight properties exchanged hands, down two from the 10 that sold in January 2016. The Kihei median price was $735,000, up 18 percent from last year’s $624,500.
For condominiums sold countywide, sales volume rose 16 percent to 96 units while the median sales price soared 36 percent to $537,500, up from $395,000 per unit in January 2016. Total dollar amount for condos spiked 38 percent to $63.3 million.
The median sales amount for condos was the highest in January since at least 2012.
Kihei led the way in condo sales volume in January with 36 units sold, up 50 percent from the 24 sold in January 2016. The median price for units was $475,000, up 51 percent from the $315,500 median price a year earlier.
Other areas with double-digit condo sales in January were Napili-Kahana-Honokowai with 15 units, down 21 percent from 19 units in January 2016; Wailea-Makena with 14 units, up 180 percent from five units; and Maalaea with 11 units, up 175 percent from four a year earlier.
The median sales price for a Napili-Kahana-Honokowai condo was $395,000, down 4 percent from $410,000; for Wailea-Makena unit it was $1,075,000, down 43 percent from $1.9 million; and for Maalaea it was $451,500, up 18 percent from $382,500.
Looking at available inventory, the number of single-family homes on the market in January was 650, off 6 percent from the 12-month average of 691.75. For condos, there were 974 units available last month, down 2.1 percent from the 12-month average of 995.33.
The full Maui statistical report is available at www.RAMaui.com.
* Brian Perry can be reached at email@example.com.