The Maui Real Estate Market has taken an upswing towards the later part of 2009. The market is looking promising as the Canadian dollar strengthens and prices adjust. Listed below are the Dec/2009 and 2009 Year End Maui Real Estate Statistics. Wailea and Makena Real Estate continue to lead the state in the luxury real estate market.
December 2009 Sales Volume – Residential Sales posted a 17-month high with 90 sales and Condo Sales rose to 80 units. Land sales dropped to 9 lots.
December’s Median sales prices – Homes rose to $477,000. Condos remained steady at $401,500. Land declined to $305,000.
Days on Market for Residential homes = 154 DOM, Condos = 170 DOM, Land = 111 DOM.
2009 Year to Date
Residential unit sales – declined (-24%), average sold price = $713,946 (-14%), median price = $498,106 (-14%) and total dollar volume sold = $494,764,887 (-35%).
Condo unit sales – increased (4%), average sold price = $719,993 (-22%), median price = $450,000 (-18%). Total Condo dollar volume sold = $593,273,850 (-18%).
Land (NOTE: Land Lot sales were so few that statistics are not necessarily a reliable factor) lot sales declined (-10%), average sold price = $1,111,387 (+12%), median price = $485,000 (-31%), Total dollar volume = $121,141,185 (+23%).
TOTAL SALES FOR 2009
Residential = 693
Condo = 824
Land = 109
December 7, 2009 – Active/Pending/Contingent status inventory
Homes 996
Condos 1,495
Land 522
Current Absorption Rate base on this month’s inventory divided by Dec. Sales is:
Residential = 11 months, Condo = 18.6 months, Land = 58 months.
