Homes on Maui generally sold for moderately higher prices last month, according to the latest data from the Realtors Association of Maui.
The median sale price for single-family homes on the Valley Isle, Molokai and Lanai was $782,438 in January, up 7% from $730,000 in the same month last year.
Condominiums sold for a median $569,000 last month, up 8% from $528,450 a year earlier.
The median price is a point at which half the sales were at a higher price and half at a lower price. Factors including the age, size, quality and location of homes can affect this measure.
For instance, last month three single-family homes sold for a median $1.1 million in the Napili/Kahana/Honokowai area between Kapalua and Kaanapali resorts. That compared with no sales a year earlier, which acted to elevate the median price for the whole island last month.
Another region for sales that helped push up the broader median price was Wailuku, where there were 24 single-family home sales for a median $735,000 last month compared with 14 sales for a median $607,500 a year earlier.
At the lower end of the market, two single-family homes on Lanai sold for a median $434,500 last month compared with no sales a year earlier.
The number of homes sold in Maui County surged 33% to 84 for single-family homes in January from 63 a year earlier. Condo sale volume dipped 2% to 127 from 130 in the same period.
The Realtors Association of Maui counts both resales of previously owned homes and new homes sold by developers.
HOMES
January Sales Median price
2020 84 $782,438
2019 63 $730,000
Change 33.3% 7.2%
CONDOS
January Sales Median price
2020 127 $569,000
2019 130 $528,450
Change -2.3% 7.7%
Source: Realtors Association of Maui
