Saturday, November 28, 2015         

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Maui home prices rose in August

By Andrew Gomes


Maui's housing market posted sale volume and price gains in August, according to the latest monthly report from the Realtors Association of Maui.

The biggest gain occurred in the median price of condominiums sold last month, and was driven in part by more sales at the market's high end.

Maui condos sold last month for a median $420,000. That was 23 percent more than the $342,450 median price in the same month last year.

Nine sales for a median $998,750 in the resort area of Wailea/Makena last month helped push the median higher. A year earlier, there were six sales in this region for a median $575,000.

In Kapalua, another pricey resort area, there were seven sales last month for a median $925,000 compared with two sales for a median $542,500 a year earlier.

Maui's condo core, Kihei, produced 42 sales for a median $352,000 last month. A year earlier there were 30 Kihei condo sales for a median $337,500.

The number of condo sales across Maui totaled 113 in August, up 15 percent from 98 a year earlier.

In Maui's single-family house market, there were 79 sales last month compared with 77 a year earlier. The median price rose 15 percent to $585,000 from $509,000.

At the high end, there were two sales in Wailea/Makena for a median $3.9 million in August compared with no sales a year earlier. At the low end, there were 25 sales in Central Maui for a median $415,260 last month compared with 22 sales for a median $370,000 a year earlier.

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