May 2018 Monthly Market Update for Homes and Condominiums on Maui
For the month of May 2018, you can see that Medium priced decreased from $700k to $695k versus May 2017. Click here to see Residential statistics for year-to-date 2018 where you can see that the overall median price has remained unchanged at $690,000 from January-May 2017 to January-May 2018. For prospective buyers, there are still deals to be found in the market, and for sellers, the market has still not hit the highs of the previous market peak. Inventory is still low, so prices still have room to increase.
Condominium Statistics May 2018
In May 2018, the median price for condominiums remained the same at $475,000, and the total number of sales increased 35.1%. Click here for the year-to-date 2018 versus 2017 where you will see that the median price increased 1% and the total number of sales increased 22.1%. There is an opportunity to find deals for buyers even though this market segment is definitely seeing significant action with the 35.1% increase for May and 22.1% for the 2018 year-to-date.
Questions or Comments
Please contact me at (808) 359-4490 to discuss buying or selling a home or condo here on Maui or click the photo below to subscribe to my website and receive my Kihei Condo Buyer’s guide for free.