Weekly Corona Virus Market Watch
Aloha and welcome to another edition of the Maui Market Watch. Click to See GoogleSheets Report. If you are new to the blog, my name is Eric West a real estate broker with HawaiiRealEstate.ORG I am all about teaching you everything you need to know about Hawaii and it's real estate. Please be sure to check out my YouTube channel with hundreds of helpful videos about Hawaii and Real Estate.
In this report, I will show you every week all of the 1) New Price Reductions 2) New Homes listed in order of Best Value on Price Per Square Foot 3) New Vacation Rentable Fee Simple Condos 4) New Fee Simple Long Term Condos 5) New Land Listings and finally 6) Everything that has closed on Maui in the last week....all homes, condos and land. And the best part? The report is actually a Google Sheets spreadsheet that you can copy and paste into your own spreadsheet to manipulate the numbers for your own analysis.
I have always been a "numbers guy" as I say, because the numbers don't lie. Unlike some real estate "sales people" and the frenzied media outlets, I believe in level headed rational analysis of data. The numbers quietly and unemotionally tell the true story of what is happening. If you are new the the Maui real estate market, or a veteran, I would love to be your resource for the quality information and non hyped up guidance. I believe I get paid to help people make wise real estate decisions. I don't get paid the "sell" them anything. If you are a seller, I hope you can appreciate the importance of a numbers guy as well. Marketing can only go so far. It's strategic pricing that takes into consideration all the factors effecting the buyers perception of value that will get you the most dollars in your pocket. And in an ever changing & evolving market like this one, nailing the asking price can make the difference between selling in the average days on market or hemorrhaging losses as you try to capture that extra 10% that will never happen.
This last week saw are first big decline in closings. We went from 84 and $63M the week before to only 46 sales for a total of $40M this most recent week. The average price reduction increased for the first time from a 3 week average of 9% to 11%.
This graphic says it all. We didn't just flatten the curve, we are are bending it down!
I also would like to share the First Quarter of 2020 Maui Real Estate Sales Report. Click Here for the PDFMaui-MARCH-2020-Vertical.pdf [2.60 MB]
If you have not yet seen one of my Neighborhood Tours, check it out:
My passion is sharing the Maui lifestyle with the world on the largest video platform on earth - YouTube. With an audience of over 3 billion (and growing exponentially) you simply cannot find a better platform to market real estate for sellers and to meet buyers. My Youtube channel is by far the most watched real estate channel in the State of Hawaii. Check it out https://www.youtube.com/hawaiirealestateorg If you are looking to buy or sell a home, land or condo in Hawaii, I'd love to help! Feel free to call or text me at 808-298-2030 or email firstname.lastname@example.org