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West Maui Hawaii Sold Homes Real Estate Report with Monthly Updated Statistics

Posted by Eric and Lisa West on Friday, September 29th, 2017 at 2:53pm.

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 the Median Sold Price trend is "Neutral".

The Average Days on Market showed a upward trend. The ratio of Sold Price vs. Original List Price is 90%.

It is a Neutral Market

Property Sales (Sold) August property sales were 24, 41.2% higher than the 17 sales last month.

Current Inventory (For Sale) The total number of homes available this month is 125. The number of current inventory is the same as the previous month.

Property Under Contract (Pended) There was an increase of 30% in the pended properties in August, with 13 properties versus 10 last month.

All reports are published September 2017, based on data available at the end of August 2017, except for the today stats. All reports presented are based on data supplied by the HiCentral, RAMaui, and Hawaii Information Services MLS. Neither the Association nor its MLSs guarantee or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS's may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

The Average Sold Price per Square Footage is Depreciating* The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the 'mix' of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The August 2017 Average Sold Price per Square Footage of $600 was down 1.5% from $609 last month.

* Based on 6 month trend – Appreciating/Depreciating/Neutral

The Days on Market Shows Upward Trend* The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for August 2017 was 165, up 77.4% from 93 days last month.

The Sold/Original List Price Ratio Remains Steady** The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 90% is down 3.2% % from last month.

* Based on 6 month trend – Upward/Downward/Neutral ** Based on 6 month trend – Rising/Falling/Remains Steady

The Average For Sale Price is Appreciating* The Average For Sale Price in August was $3,715,000, up 2.4% from $3,627,000 last month.

The Average Sold Price is Neutral* The Average Sold Price in August was $1,629,000, up 7% from $1,523,000 last month.

The Median Sold Price is Neutral* The Median Sold Price in August was $1,193,000, up 13.6% from $1,050,000 last month.

* Based on 6 month trend – Appreciating/Depreciating/Neutral

It is a Neutral Market*

A comparatively lower Months of Inventory is more beneficial for sellers while a higher months of inventory is better for buyers.

*Buyer’s market: more than 6 months of inventory Seller’s market: less than 3 months of inventory Neutral market: 3 – 6 months of inventory

Months of Inventory based on Closed Sales The August 2017 Months of Inventory based on Closed Sales of 5.2 was down 29.9% compared to last month. August 2017 is Neutral market.

Months of Inventory based on Pended Sales The August 2017 Months of Inventory based on Pended Sales of 9.6 was down 23.2% compared to last month. August 2017 is Buyer's market.

Absorption Rate measures the inverse of Months of Inventory and represents how much of the current active listings (as a percentage) are being absorbed each month.

*Buyer’s market: 16.67% and below Seller’s market: 33.33% and above Neutral market: 16.67% - 33.33%

Absorption Rate based on Closed Sales The August 2017 Absorption Rate based on Closed Sales of 19.2 was up 41.2% compared to last month.

Absorption Rate based on Pended Sales The August 2017 Absorption Rate based on Pended Sales of 10.4 was up 30% compared to last month.

 

Eric West Cell Phone: 808-298-2030 Email: eric.west@elitepacific.com http://www.HawaiiRealEstate.ORG RB-20968

 

 

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