The median price of a single family home in Maui County in September was $996,500 — the first time it’s been under a million dollars since April. That's according to the latest statistics from the Realtors Association of Maui.
114 homes were sold during the month, down 2% from August.
The median price for a condo was also up to $729,125, the highest it’s been this year and up 46.6% from September 2020.
Inventory is still an issue. There were 205 homes for sale (down 44.3% from September 2020), and only 139 condos for sale (down 82.3% from September 2020).
“I think the prices are leveling off but as the supply goes down, you know, I mean it's simple economics right, the prices are going to go up. But you know how far can they go up?" Keone Ball, 2021-2022 president of the Realtors Association of Maui, said. He added that the run of buyers from the mainland seems to have slowed down as the COVID situation evolves around the country.
"(That) will help the local buyers, but I don't think it'll help the prices at all, cuz we still have a huge pool of local buyers that want to stop renting and buy a property,” Ball said.
Properties continue to hit the market, with nearly 120 homes and 130 condos listed last month.
