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MARKET REPORTS

MAUI RESIDENTIAL SALES

June 2024

A shift in the market is taking shape as evidenced by a decline in total sales activity for the third consecutive month, while the number of new listings continued to increase from the low of August 2023. With this inversion, months of remaining inventory is now at 7.6 months – a shift from a sellers’ market to a buyers’ market. In this new market environment, sellers should be mindful of price, presentation, and time to sale. Buyers on the other hand have the leverage to be more aggressive on concessions and price.

March 2023 Maui Real Estate Report

Maui Market Report Archives

View past reports by downloading from the links below:

Hawaii Island Residential Sales

June 2024

A slowdown in sales activity couldn’t stop the Big Island real estate market from setting a record high, with median sales prices reaching $642,000 in June and 23% of properties sold above asking price. Unexpectedly, total sales for condos plummeted to 32 sales in June, down from 72 sales in May, a 56% decline. Looking ahead to the second half of 2024, expect some bumps in the overall housing market as consumer confidence wavers and a decision on rate cuts looms. Regardless of whether you plan to buy or sell, opportunities in the market continue to present themselves.

Big Island Market Update January 2023

Kauai Residential Sales

June 2024

In line with larger statewide and national trends, property sales on Kauai cooled in June. Along with slower sales, sellers experienced a slight increase in days on market for both single-family homes and condos. For buyers, a surplus of properties listed for sale (more listings than sales) provides a welcome relief in what has been a very inventory-tight market for Kauai. If the softer real estate market continues, anticipate single-family home prices to dip below $1 million for the first time since October 2023.

Kauai Real Estate January 2023

Oahu Residential Sales

April 2024

As we enter the peak summer home-buying season, the Oahu real estate market is holding steady in part due to continued buyer demand. With the extended delay in forecasted mortgage interest rate improvement, we anticipate sales to remain steady with only moderate price increases. A slight drop in days on market indicates that buyers are becoming more active, especially for properties with high curb appeal.

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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