Honolulu Star-Advertiser

Friday, April 26, 2024 73° Today's Paper


Median home price on Maui falls to $414K

Andrew Gomes

Median prices dipped modestly for Maui single-family homes and condominiums sold last month on mixed sales volume, according to a report released Wednesday.

The Realtors Association of Maui said single-family home sales rose 20 percent to 78 in September from 65 in the same month last year. The median price was off 6 percent to $414,000 from $440,000 in the same ago.

Much of the median price change was influenced by Maui’s biggest submarket for single-family homes, central Maui, where there were 25 sales last month for a median $360,000 compared with 21 sales a year earlier for a median $437,500.

In the second-busiest submarket, Kihei, there were 11 sales for a median $470,000 last month compared with 11 sales a year ago for a median $381,000.

Maui’s condo market saw sales decline 22 percent to 76 units last month from 98 a year earlier. The median price was down 2 percent to $310,000 from $315,635.

In the biggest condo submarket on Maui, Kihei, there were 28 sales last month for a median $299,950 compared with 33 sales a year earlier for a median $278,500. The next biggest submarket also saw the median rise. There were 20 sales in the Napili-Kahana-Honokowai area last month for a median $332,500 compared with 18 sales a year earlier for a median $260,000.

One drag on Maui’s median condo price was activity in the luxury Wailea- Makena region, where there were five condo sales last month for a median $527,500 compared with four sales a year earlier for a median $1.5 million.

The Realtors Association of Maui includes sales of both new homes and previously owned homes, which can affect median prices if predominantly new or old homes are sold.

Comments are closed.