Maui Real Estate Statistics - June 2009

Maui real estate statistics for the month of June have been compiled by the Realtor’s Association of Maui. The number of home sales rose from 56 in May to 62 closings in June. Condo sales fell slightly from 47 in May to 45. Land sales fell from 8 to 7. Once again, Central Maui has held the lead in Maui home sales with 20 closings this month, again generated by short sale, bank-owned and developer inventory.

For the month of June, the median price for residential real estate was $499,053; the average residential home price for June was $761,252.

Year to Date: Residential unit sales declined (-41%), average sold price = $761,252 (-14%), median price = $510,000 (-14%) and total dollar volume sold = $216,956,818 (-49%).

Condo unit sales declined (-46%), average sold price = $685,584 (-29%), median price = $420,000(-27%). Total Condo dollar volume sold = $188,535,561 (-62%).

Land – NOTE: Land Lot sales are such a small sampling that statistics in this property class are not necessarily reliable indicators.
Land lot sales declined (-29%), average sold price = $1,433,038 (+52%), median price = $800,000 (+14%), Total dollar volume = $70,218,875 (+8%).

Total sales for the past 12 months:
Residential = 718
Condo = 568
Land = 79.

On the positive side of this story, nationally 53% of the home sales this year are to first time home buyers!

For the full report, see Maui Real Estate Statistics - June 2009