June and 2nd quarter statistics are out- Part 1-single family homes

Aloha everybody!

The statistics on how well Maui Real estate did in the month of June are currently available here. Thank you REALTORS Association of Maui!

Before going on to review the statistics, I need to start with a " Readers beware" notice. Given the fact that the number of transactions on Maui , in general, are rather small, one sale can influence the average and the median prices significantly. Thus, take everything with a grain of salt.

Kapalua still leads the way in terms of the highest average price for homes and that is $4,905,625 and there have been 4 sales in this area this year.

Ka'anapali has suffered a drop in number of transactions, only 10 homes were sold until July and the average price was $2,086,100. This represents a a 20% drop in the number of sales ( in actual terms that is ONE sale) and a 18% decrease in average sales prices.

Although there have been a drop in the number of homes sold in Napili/Kahana/Honokowai area, the average price actually increased 123% to $2,267,462, while the median price was $1,000,000.

As for Lahaina area, both average and median prices decreased with 21%, while the number of sales dropped 50%.

Thus, looking at these numbers, one would think: " prices have dropped enough, it is a good time to buy before things go back up!