While still wrapped up in a pandemic, the median price of a single-family home on Maui jumped by 20% last month, compared to February 2020, as sales grew by 22%. The number of condominiums sold also rose 24% as the median price held, according to statistics from the Realtors Association of Maui.
There were 101 single-family homes sold in February in Maui County, including four on Molokai and one on Lanai, which was 21.7% more than the 83 homes that sold in February 2020.
The median price of those homes was $895,000, which was 19.8% higher than the median price in February last year, which was $747,150.
The number of condos sold last month totaled 166 units, which included five on Molokai, which was 23.9% more than the 134 units that sold in February 2020. The median price, however, increased by just 0.6% to $556,900, from $553,500 last year.
For the first two months of 2021, single-family home sales rose 20.2% to a total of 202 homes sold in January and February, compared with the same months in 2020, when there were 168 homes sold. The median price for the first two months of the year was $931,000, which was a 23.4% increase from $754,180 last year.
For condos, sales rose 7.3% to 281 units sold, from 262 units sold last year, and the median price rose 0.9% to $560,000, from $555,000 last year.