The Maui real estate market ended 2008 with the number of sales at 907 for single-family homes and 789 for condominiums, down about 20% and 33% respectively from the previous year.

Compared to 2007, Maui single-family home median prices decreased by about 8.3% to $577,867. Maui condominium prices remained stable at $550,000, with no change from 2007, despite most of Maui’s condominium markets showing a drop. The resort area of Wailea/Makena’s median price increase of over 65%, due to strong developer sales and resales of new luxury projects, increased the overall condominium median price numbers for Maui. With Wailea/Makena taken out of the calculation, Maui’s condominium market would show a median price drop of about 10%.

You can download the report from Prudential Locations which also includes price changes by individual Maui neighborhoods: Maui Real Estate Report 2007 vs 2008

maui real estate prices single family homes 2007 vs 2008

maui real estate prices condos 2007 vs 2008

Post from: Hawaii Real Estate Reporter

Maui Real Estate in 2008 vs 2007: What Happened?

-The third quarter of 2008 saw fewer real estate transactions compared to the third quarter of last year, with 6.2% less single-family homes and 44.6% fewer condominiums sold.

-Single-family home prices experienced a drop of 4.0% to $600,000 compared to last year.
Condominium median prices dropped 5.8% to $525,000.

-Median price increases occurred for single-family homes in the Wailea/Makena area, Hana, Lahaina and the Kula/Ulupalakua/Kanaio areas. Condominium median prices continue to increase in the Wailea/Makena area due to new development closings from 2006.

Download the complete Maui Real Estate Report Here

Post from: Hawaii Real Estate Reporter

Maui Q3 Real Estate Trends and Activity Report