Home prices on Maui hit a new high in April, 2019. The median home price jumped from $712,718 in March to $819,500 in April. Home prices on Maui are already some of the highest in the nation, but the numbers are skewed a bit. Fewer homes sold in April than in March and more homes priced $1M+ sold in April than March. These two factors are what have led to median home prices surging over $100K in just one month for single family homes on Maui. The median home price through the first four months of 2019 is $750,000. I expect the median price to decrease below $800K in May.
Single Family Homes:
In April, 76 single family homes sold with a median price of $819,500 and an average price of $1,081,851. At the end of April there were 477 single family homes for sale on Maui which is approximately 5.2 months of inventory.
So far through April, 2019 314 single family homes have sold with a median price of $750,000 and an average price of $1,021,236. The median sale price has increased 9% the first four months of 2019 compared to the first four months of 2018.
Condominiums:
In April, 137 condominiums sold with a median price of $440,000 and an average price of $665,229. At the end of April there were 515 condominiums for sale on Maui which is approximately 4.1 months of inventory.
So far through April, 2019 542 condominiums have sold with a median price of $516,000 and an average price of $686,692. The median sale price has increased 5.2% the first four months of 2019 compared to the first four months of 2018.
Original post at https://www.mauihawaiihomesearch.com/blog/maui-hawaii-real-estate-market-report-may-2019/
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