SEPTEMBER 2021 Maui Real Estate Statistics Overview
SEPTEMBER 2021 MEDIAN HOMEPRICE: $996,500
SEPTEMBER 2021 MEDIAN CONDOPRICE: $729,125
SEPTEMBER 2021 MEDIAN VACANT LANDPRICE: $805,000
Nationwide, existing home sales were down slightly in August, falling 2%
after two consecutive months of increases, according to the National
Association of REALTORS®. The decline in existing home sales coincides
with rising sales prices, which have continued to soar into fall, with the
median sales price of existing homes up 14.9% compared to last year.
Declining affordability has had a significant impact on homebuyers, many of
whom have been priced out of the market and are choosing to wait for
sales prices to ease before resuming their home search.
New Listings decreased 9.8 percent for Single Family homes and 29.2
percent for Condominium homes. Pending Sales decreased 4.3 percent for
Single Family homes but increased 5.7 percent for Condominium homes.
Inventory decreased 44.3 percent for Single Family homes and 82.3 percent
for Condominium homes.
Median Sales Price increased 27.3 percent to $996,500 for Single Family
homes and 46.6 percent to $729,125 for Condominium homes. Days on
Market decreased 14.9 percent for Single Family homes and 6.9 percent for
Condominium homes. Months Supply of Inventory decreased 57.1 percent
for Single Family homes and 90.8 percent for Condominium homes.
There are signs the market may be shifting, however. New listings have
continued to hit the market, bucking seasonality trends commonly seen in
the fall, a time when listing and sales activity typically slows as children
return to school. As inventory increases, competition for homes may soften,
and could even bring a moderation in sales prices, which, after 114 months
of year-over-year gains, would be music to the ears of homebuyers
throughout the country.