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MARKET REPORTS

MAUI RESIDENTIAL SALES

February 2024

Recent trends persist for the overall Maui real estate market as single-family home sales continue to increase while the condo market remains mixed when it comes to sales activity. Across the island last month, Maui experienced a slight dip in new listings compared to the month before, but buyers remained active as the median days on market and the number of homes that sold above asking price, indicators of demand, remained strong. With mortgage interest rates sitting just below 7%, tight market conditions are likely to stick around.
March 2023 Maui Real Estate Report

Maui Market Report Archives

View past reports by downloading from the links below:

Hawaii Island Residential Sales

February 2024

Overall, real estate sales activity on the Big Island continues to increase, with total sales for single-family homes and condos rising for the third consecutive month. This surge has been accompanied by rising median sales prices and shorter days on the market. Median sales prices for single-family homes in various areas include: Kona at $1.2M, Kohala at $1.1M, Hilo at $580K, and Puna at $349K. With mortgage interest rates holding steady, buyers are increasingly embracing higher price points and exercising their negotiation strengths, as evidenced by 58% of properties selling below list price. 

Big Island Market Update January 2023

Kauai Residential Sales

February 2024

It’s much of the same for Kauai real estate, as total sales, median sales prices, and days on market stay within recent ranges. Across the market, buyers and sellers are settling into the new norm of limited inventory and prices above $1M for single-family homes and around $700k for condos. Looking back, today’s market conditions have returned to pre-pandemic levels, with modest price appreciation and an average of 30 days on market for both residential and condo properties.

Kauai Real Estate January 2023

Oahu Residential Sales

January 2024

Single-family home sales rose, 22. 7%, while condo sales ticked up 16.2% compared to this time last year. Month over month, the new year started much like 2023 ended, with minimal upticks in sales of single-family homes at 1.1 % and condos at 7.4%.

Median sales prices in January 2024 closely resembled year-end figures in late 20203. Single-family home prices reached $1,021,016, up 2.5% month-to-month but down 2.8% from the year-end median of $1,050,000. In January, the median condo price ·was $502,500, a 1.5% dip month-over-month and a 1. 2% drop from the year-end median of $508,500. Year-over-year, single-family home prices grew by 5.3%, while condo prices saw a modest 1.5% increase. 

Kauai Real Estate January 2023

Hawaii Market Update

2023 Mid-Year

As we cross the midpoint of 2023, the Hawaii real estate landscape continues to adapt to higher mortgage interest rates and tighter inventory levels. While the year started off sluggish due to a spike in mortgage interest rates that edged out many prospective buyers, the market has since shown signs of rebounding. 

With so few homes for sale across the islands, sellers remain in control of the market. However, properties that are priced too high or do not present well are seeing an increase in days on market. 

 

2023 Mid-Year Hawaii Real Estate Market Summary | Coldwell Banker Island Properties

Hawaii Market Update

2022 Year End

After the pandemic year of 2020 and the record-setting rebound market of 2021, the past twelve months brought a much-anticipated correction to a red-hot housing market in 2022. For those looking to purchase property in the year ahead, it is important to not get distracted by the big numbers reported every month. In every real estate market, there are opportunities. By understanding the local nuances of each neighborhood or condo complex, having your finances in order, and staying committed to your goal, Hawaii homeownership is still achievable. 

2022 Hawaii Residential Real Estate Update

Hawaii Market Update

Quarter 3 | 2022

As anticipated, Hawai’i’s real estate market has returned to
“pre-pandemic” levels as sales activity has resumed a more
moderate pace and median sales prices have retracted
from all-time highs of the last two years. Even though the
market has slowed — in part to rising mortgage interest
rates and concerns about an economic recession — a
general lack of inventory continues to favor sellers. Buyers,
however, are beginning to take back control as days on
market and the overall number of price reductions have
both increased in recent months.

Q2 Market Report Hawaii Coldwell Banker Island Properties

Hawaii Market Update

Summer Luxury Update | 2022

Across the globe, the Hawaii luxury home market has consistently ranked among the premier destinations for individuals seeking the ultimate island lifestyle while maintaining access to modern conveniences, limitless activities, and privacy. In the wake of the recent COVID-19 pandemic, the Hawaii luxury home market was red hot as many flocked to the islands to embrace all Hawaii has to offer. Subsequently, between March 2020 and June 2022, there were 1,874 luxury home sales totaling $7.984 billion.

Learn more about 2022 sales trends across Maui, Hawaii Island, and Kauai, and browse all new and active listings year-to-date with this in-depth luxury summary.

Hawaii Global Luxury Summer Preview | Coldwell Banker Island Properties

Hawaii Market Update

Quarter 1 | 2022

Inventory, inventory, inventory. Across the Hawaiian Islands, the residential real estate market continues to remain extremely competitive as the lack of properties for sale has driven median sales prices for single-family homes and condos to all-time highs throughout the first quarter of 2022. Now into the fourth month of the year, the story remains the same: those looking to buy should be ready to move quickly with a strong offer, and with properties selling as fast as they come on the market, the time to sell is now.

Maui Housing Report June 2021

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