Maui Real Estate Reports

According to Terry Tolman of the Realtors Association of Maui, real estate on the island, "seems to be bouncing along at the bottom." Terry explained that while the situation is no longer in decline, there isn't much consistent evidence to indicate that the recovery has begun, where sales in the past nine months are concerned.

Statistics on the status of real estate came from RAM's Multiple Listing Service. According to those reports, the number of sales closed is very, very low with only 53 closings of single-family homes in September as opposed to 66 in September of the year before. For the same month in 2004 and 2005, there were over a hundred closings each month. Condos looked to be in a similar state with 63 closings this September as opposed to 50 in 2008. But again, the years prior showed a drastically higher number of sales.

Year-to-date closings are at 450 for single-family homes as opposed to 708 for the same period last year. Condos closed at 610 sales as opposed to 674.

As always, it is crucial to understand that Maui real estate is a small market. This means that just a few sales in certain areas can seriously skew those percentages you may be hearing about. That is why looking at the number of closings over a longer period will give you a better gauge of where the market is really at. 

Explore the wonderful selection of Maui oceanfront homes for sale and Lahaina homes on the market now. As always, don't hesitate to contact me by email at robert@mauihomesales.com or call 808-662-0003. Mahalo for reading this week!