Maui Land Report For December, 2020:
This is the December 2020 market report for land sold on Maui Hawaii during November 2020.
Maui Land Sales November 2020: In November 26 parcels of land sold on Maui with a median price of $517,500. At the end of November there were 241 parcels of land for sale on Maui. Kula/Ulupalakua/Kanaio had the highest number of sold vacant parcels with 6 sold properties during November. Wailea/Makena had the highest median sale price for sold vacant land on Maui with a median sale price of $3,000,000 in November.
Maui Land Sales Year To Date: Through November, 181 total parcels of land have sold on Maui with a median price of $475,000 and an average price of $737,542. The median sale price has decreased 5% during 2020. The average sale price has decreased 20.6% during 2020. Haiku has the highest number of sold land during 2020 with 44 total sales while Spreckelsville has the highest median sale price for sold land with a median sale price of $2,275,000 during 2020. Only two parcels of land has sold in Spreckelsville year to date. Maui land sales have increased 8.4% compared to the same period through November 2019. More vacant lots sold during August, September, October, and November 2020 then August, September, October, and December 2019 which shows that sales activity for vacant land on Maui is recovering.
Maui Land Sales 2019: During 2019 176 parcels of land sold on Maui with a median price of $500,000 and an average price of $929,401. The median sale price for land on Maui increased 3.6% during 2019. Haiku had the highest number of sold vacant land during 2019 with 39 total sales while Lahaina had the highest median sale price for sold vacant land with a median sale price of $1,504,500 during 2019.
*COVID-19 will likely have an impact on the Maui Real Estate Market. It is too early to tell how it may affect the longterm local market for land. With Real Estate Agents considered nonessential throughout Maui County through parts of March and April no showings of land were allowed. This has affected pending land sales for March and April and closed sales starting in April, 2020. We had a decrease in sold land on Maui May through July. Sales volume is up the last four months which shows buyer confidence and a rebound in the vacant land market on Maui. Total sales for vacant land on Maui are higher compared to this same time last year although median and average sales prices are down.
Maui Land Sales November, 2020:
Maui Land Sales Year To Date Through November, 2020:
Maui Land For Sale
Original post at https://www.mauihawaiihomesearch.com/blog/maui-hawaii-real-estate-market-report-for-land-december-2020/
