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Maui Real Estate Market Watch from Eric West : An In-Depth Report for Homes, Lands, Condos and Historical Sales

Posted by Eric and Lisa West on Tuesday, May 5th, 2020 at 2:25pm.

Aloha & Welcome to Another Edition of the Maui Real Estate Market Watch!

The purpose of these weekly reports is to give you the cutting edge insight and research as it pertains to the Maui Hawaii Real Estate market. 

Here is a direct link to the report. (Scroll down to see embedded spreadsheet below)

I am pleased to announce the report is evolving and growing! You can now see these new elements:

  1. Historical Sales Data :Every home, land, condo sale on Maui in 2018, 2019, and 2020

  2. Every Pet Friendly Vacation Rentable condo For Sale on Maui (a very sought after and rare combination indeed)

  3. The Report also shows all new price reductions for the week, all New Listings for homes, land and condos, the Top 20 Best Deals for Homes, Land, Vacation Condos, Long Term Condos!

This report is also dynamic. That just means no matter where you find the link to the spreadsheet (old blog article, old video etc) It is always up to date with live links to the data. You also have the ability to copy and paste the data in your own spreadsheet for your personal analysis!

This weekly report is a fully interactive, dynamic Google Sheets spreadsheet that is updated weekly with live links to all of the data. It is both a snapshot of what the market is doing right now with the most recent price reductions along with the top 20 best deals for homes, land and condos (based on the best value price per square foot or price per acre), along with new properties (homes, condos and land) listed for sale and all historical sales on Maui going back to 2018. 

This last week was (suprisingly) very slow for price reductions (only 21) but new listings (48)  and closings (44) are holding very steady. I would have thought the Corona Virus shutdown would have resulted in more price reductions and less closings. But really, we are looking quite stable at this point. Maybe in a few weeks we will see the full impact of buyers not being able to see properties (unless they are vacant) and the island have 99% less visitors/buyers than normal.

The average price reductions fell from 13% to 7% from the previous week. With 21 price reductions totaling just over $1M in discounts. 

Closings held steady at 44 closed transactions for $34M in total dollar volume.(Maui statistically averages 54 closings per week, so we are 20% off from the typical closing volume likely due to the corona virus shutdown.)

If you look at the top row in the historical sales data for 2018 and 2019 you will see that in 2018 the entire real estate market had $2.4B  in closing with average days on market of 163 days, 2019 also had $2.4B in closings with an average days on market of 143, and the YTD for 2020 is ($750M) tracking to pace out at  $2.2B  with and Avg DOM of 153. Within the report is a detail for every sale (homes, land, and condos)

I would also like to share the Luxury Home Report with you! This is a new valuable resource I will be providing with an in depth look at the luxury home market in Hawaii for every island. So whether you are shopping for homes on Maui, Kauai, Big Island or Oahu, be sure to flip to that section. I have embedded that below for your reading pleasure!

Now for my Maui Best Deal picks for the week!

Eric’s Weekly Pick Maui for Best Price Reduction

http://www.hawaiirealestate.org/listing/386211-kaanapali-real-estate-200-wahi-oli-way-unit-13-summit-phase-1-for-sale-hawaii-96761/

Eric’s Weekly Pick Maui for Best Value Maui Home for Sale : 

http://www.hawaiirealestate.org/listing/385013-napilikahanahonokowai-real-estate-28-lotus-pl-kahana-ridge-for-sale-hawaii-96761/

Eric’s Weekly Pick Maui for Best Value New Vacation Condo for Sale:

http://www.hawaiirealestate.org/listing/384071-napilikahanahonokowai-real-estate-4401-lower-honoapiilani-rd-b501-hololani-for-sale-hawaii-96761/ 

Eric’s Weekly Pick Maui best Value Vacant Land/Lot  for Sale: 

http://www.hawaiirealestate.org/listing/384913-kaanapali-real-estate-607-anapuni-loop-lanikeha-lot-9-ph-2-lanikeha-for-sale-hawaii-96761/

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 hawaiisbest1@gmail.com

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