As of this August, it is still a clear Seller’s market on the island of Maui. Looking at the statistics generated by the REALTORS Association of Maui (RAM), there has been a 30.2% increase in sales price from a year ago for single-family homes, with 121 single-family homes having a median sales price of $1,040,000. The average number of days on the market has decreased by over 11%, meaning homes are selling faster than 2020. Most of the single-family homes sales in August have been in Kahului and Wailuku.
These increases are not just for single-family homes. Condominium Sales are seeing over 50% increase in sales, and a 44% decrease in time on the market. Condos are selling fast, and the inventory is shrinking in response. The months supply of inventory for Condos is at .7 months, and 1.8 months for single family homes.
The REALTORS Association of Maui report is available here.