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August 2017 is a Buyer's market! The number of for sale listings was down 5% from one year earlier and down 2.6% from the previous month. The number of sold listings decreased 8.1% year over year and decreased 22.7% month over month. The number of under contract listings was up 43.2% compared to the previous month and up 76.7% compared to the previous year. The Months of Inventory based on Closed Sales is 10, up 4.1% from the previous year. The Average Sold Price per Square Footage was down 9% compared to the previous month and up 8.9% compared to last year. The Median Sold Price decreased by 4.4% from last month. The Average Sold Price also decreased by 16.9% from last
BookMark this Page as it is dynamic will update monthly!
West Maui Single Family Home Report for August 2017 - not a buyer or a sellers market...rather....it is a Neutral market!
The number of for sale listings was the same as the previous month. The number of sold listings increased 41.2% month over month. The number of under contract listings was up 30% compared to the previous month. The Months of Inventory based on
Closed Sales is 5.2.
The Average Sold Price per Square Footage was down 1.5% compared to the previous month. The Median Sold Price increased by 13.6% from last month. The Average Sold Price also increased by 7% from last month. Based on the 6 month trend, the Average Sold Price trend is "Neutral"and
Understanding the difference between leasehold property in Hawaii and fee simple meaning is actually very simple! With leasehold you DO NOT own the land the home or condo sits on. With fee simple you do! A leasehold property will have an additional monthly lease fee that you have to pay to the land owner. (This fee typically goes up over time.) The lease is renegotiated every 10 years (typically) Leasehold properties are also very difficult to finance and are usually all cash deals. Leaseholds are also much less expensive than fee simple properties because of this extra cost and the risk associated with not owning the land. The good news is the many leasehold properties are converting to fee simple. Which simply means that the land is purchased from the
We all have a story. Mine just happened to begin at The Kuleana Resort in West Maui. This was the first place that I really called home in Hawaii and it's quite frankly where I fell in love with the Island of Maui. I decided to make my home in Hawaii and move my wife and 4 boys over from Colorado. Since then we've had a ball selling real estate all over Maui, but really focused on West Maui homes and condos. I've had clients purchase condos on the West side and some I have even managed for short term rental. The Kuleana has always held a special place in my heart. It's almost like a first kiss that you never forget. The memories I made at this resort will not only be cherished but also represent the greatest risk and reward that I ever
Here is my “Top 10 List” of what you need to know before selling your condo on Maui. I believe this is a great checklist to have on hand when working with a Maui Real Estate agent/realtor.
#1 MANDATORY - Get professional photos, along with a 2-3 minute video and aerials. This is an absolute MUST. Don't you let an “el-cheapo” agent take pictures with their iPhone or a point and shoot camera. It will result in pictures that are dark and simply don't look good. (And yes, I see them show up every day on new listings!) Just look at how much commission they are charging and ask yourself "can they afford a few hundred bucks?" Also, DO NOT assume they are going to do it - just because you asked! Tell your newly hired star agent that you would like
Maui Real Estate Market Comparison 2016 versus 2015 Update.
Here are the latest numbers for 2016 Maui Real Estate market in review versus the year 2015.
Residential Single Family Home sales on Maui, Hawaii were basically flat. Slightly down in terms of overall units sold. Down 1% from 1090 sales in 2015 to 1076 residential sales in 2016. However, the median sales price however rose 10% from $580,000 to $636,000. The total dollar volume in sales for 2016 was up 12% from $932 million to slightly over $1 billion in 2016. The median days on market basically stayed the same at 115 days.
Condominium sales in the Maui real estate market in 2016 versus 2015 were actually up 10% from 1189 units sold in 2015 to 1310 units sold in 2016.
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