According to RAM, Maui's residential real estate market gained 25 percentage points in December, compared with the same month in 2011. That includes single-family homes and condos. Single-family home sales were up a modest 4% with 82 houses sold compared to 79 year over year. Prices were up 24 percent from $411.000 to $511,750, year over year. As for condos, sales spiked an impressive 55 percent with the sale of 138 units compared with 89 sales in December of 2011. What a substantial difference! Prices were also up 26 percent at $382,450 compared to $310,000 year over year. These numbers apply to Maui County, which includes Lanai and Molokai. Out of the totals above, two home sales and 12 condos on Lanai were sold. As always we recommend that you take long term trends into account, especially when it comes to a small market like ours where a small number of sales can skew the percentages significantly.
[Read more Maui Real Estate Gains in December]
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