Home prices on Maui have held steady and more listings are coming on the market, even while still in the midst of COVID-19. There are also more listings for condos, but condo prices have not fared so well. Here is a recap of data from the Maui Board of Realtors for June, 2020.
The number of home sales on Maui declined by more than 20% in June, compared to the same month last year, but we may see that number turn around as pending sales of single-family homes in June rose 22.5%, compared to June 2019, and new listings were 3.2% higher.
There were 71 single-family homes sold in June, which was a decline of 20.2% from 89 homes sold in June 2019. The median price of those homes was $761,500, which was 1.5% higher than the median price a year ago, which was $750,000.
Year-to-date, sales of single-family homes through the first six months of the year numbered 455, which was 15.6% less than the 539 homes that sold during the first six months of 2019. The median price for the first half of the year was $765,173, which was 3.4% higher than the previous year’s median, which was $740,000.
For condominiums, new listings grew by 18.4% compared to last year, but pending sales declined by 23.8%.
Sales of Maui condos in June declined to 67 units, a 45.5% drop from 123 units sold in June 2019. The median price of those units was $503,000, which was a decline of 9.2% from $554,000 in June 2019.
Year-to-date, there were 630 condo units sold during the first six months of the year, which was 22.3% fewer than the 811 units that sold during the first six months of 2019. The median condo price for the first half of the year was $569,500, which was an increase of 8.7% from $524,000 last year.