Residential Home sales rose 37% in July of 2010 with an average sale price of $769,586, which is also up 5%, however year to date median sales pricing for 2010 is $470,000. Still a great time to buy! The majority of the activity came from 3 major areas. The Central Valley – Kahului/Wailuku areas with 20 home sales at an average of $427,500, followed by the South Maui/ Kihei area with 7 sales at an average price of $700,000 and then the West side, Naplili/Kahana area with 6 home sales at an average price of $617,500.
|Maui home Sales July 2009 vs. 2010|
|# Sold - Median $|
|Napali / Kahana||4||6||$411,000||$ 617,500|
|Sprecklesville / Paia/ Kuau||1||1||$410,000||$725,000|
|Island of Maui||59||61||$532,000||$500,000|
Condo sales also increased 52% in July, with an average sale price of $728,231, which is actually down 11% year to date, and median sales YTD are still very affordable at $420,000. The condo activity was lead by the South Maui/Kihei area with 31 condos sold at an average price of $290,000, up $33,500 compared to last year. The second area to experience a lot of volume in July was the Napili/Kahana/Honokawai area with 13 sales at an average price of $340,000, down $46,000 from last year.
|Maui Condo Sales July 2009 vs. 2010|
|# Sold - Median $|
|Napali / Kahana||9||13||$386,000||$340,000|
|Island of Maui||78||69||$417,000||$390,000|
Residential Home sales came in with 61 homes sold and 69 Condo sales. While numbers are in synopsis stronger than last year in most respects, both homes and condos show a decrease after four months of higher numbers in 2010, which may be partly attributed to the end of the Home Buyer Tax Credit Program. Interest rates are still very low, a large amount of inventory on the market, and motivated sellers, make this a great time to explore an investment on the beautiful island of Maui.
You can also search all Maui real estate and get new properties emailed to you daily or weekly. Information on June sales on the island of Maui was provided by Wendi Anderson a Maui real estate expert.