Maui Real Estate Maintaining It's Value
Maui news report today that Maui real estate market is maintaining its property values. While there is a major real estate meltdown in the mainland Maui is hanging in there. While actual sales are down 25% for this year. Prices are actually holding up.
Single family homes median price this year is $594,500. The median price is down $44,000 from last year. So we are looking at a 7% decline. Condos last year average was $783,000. They say Condo's are up $974,000 but I believe they didn't factor in new projects sales in Wailea which have been under contract for two to three years and are now closing this year. Kihei which has been performing well this year is actually up 9% this year $495,000. They stated that there are little signs of the market performing well. Even know we are not in the same declining market as the main land. With the current housing mess it has slow down the buyers. People are sitting on the fence waiting for things to get straighten out. My feeling is there are some great buys out there. Rates are good for the time being. If you wait for the bottom and rates go up you might end empty handed. For current market information on active and sold Maui Homes and Condos. Drop me a line.
Steven Nickens R(S) GRI ABR
The Wailea Group LLC.
3750 Wailea Alanui, suite 5We
Wailea, Maui, Hawaii 96753
Email: nickens@maui.net
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