Home, condo prices still rising

The Maui News

Sales prices for homes and condos in Maui County continued to rise in February, compared to 2016, with the median price of a home at $672,575 and condos at $465,000, the Realtors Association of Maui reported last week.

Home prices grew 13 percent in February, year over year. The median price was the highest, with the exception of December’s $700,500, since the $695,000 price in January 2014.

There were only 63 home sales in February, down from 69 a year earlier. The data show that February has been one of the weaker months for sales in the past four years.

There were 23 sales in Central Maui, generally the top area for sales, in February, the same as 2016. The median price was $570,000, up 10 percent from a year earlier.

Kihei was the second highest market, with 13 sales. Median prices grew 36 percent to $765,000.

Five homes sold in February in the luxury Wailea/Makena district, though the median price fell to $1.4 million, compared to $5.5 million in 2016.

For condos, the median price grew $33,050, or 8 percent, in February year over year. A total of 113 units were sold, up nine units from the previous February.

Kihei led the condo market, as it usually does, with 45 units sold in February, 14 more units than in 2016. The median price for the area actually declined from $420,000 in 2016 to $403,900 this February.

The luxury Wailea/Makena area came in at No. 3 in sales in February with 18, twice as many as 2016. Median prices also rose, from $1.2 million in 2016 to $1.7 million in February.

For the complete report, go to www.RAMaui.com.


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