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Dream it!! Live it !! MAUI!Maui Real Estate Statistics- October 2010
So what's the Latest October 2010 Maui Real Estate Stats?
Brief Maui Real Esate Statistics Overview:
October's Sales Volume Residential Sales held at 60 homes sold, while Condo Sales decreased to 71 units sold. Both Residential and Condos show a decrease reflecting the end of the Homebuyer Tax Credit. Land sales came in at 5 lots.
October's Median Price
-SALES prices - Home median prices slipped to $435,000 and Condo median prices rose slightly to $320,000. Land median price was $210,000.
Days on Market for Residential homes = 182 DOM, Condos = 141 DOM, Land = 199 DOM. Year to Date: (General DOM Note: this is the average DOM for the properties that SOLD. If predominantly OLD inventory sells, it can move this indicator upward, and vice versa. RAM's Days on Market are calculated from List Date to Closing Date [not contract date]. As such, it includes approximately 60 days of escrow time.) Also - Short Sales transactions can often take 4-6 months to close thereby extending the marketplace's average DOM.
Our numbers statistically are small. Thus to glean more accurate info from this data is to look at "trends" in the marketplace not the individual "numbers" data.
Residential unit sales rose (+27%), average sold price = $768,148 (+8%), median price= $460,000 (-8%) and total dollar volume sold = $521,572,222 (+36%).
Condo unit sales increased (46%), average sold price = $666,472 (-8%), median price = $385,000 (-18%). Total Condo dollar volume sold = $656,474,605 (+34%).
Land - NOTE: Land Lot sales are such a small sampling that statistics in this property class are not necessarily reliable indicators. Land lot sales increased (+25%), average sold price = $506,074 (-60%), median price = $405,500 (-21%), Total dollar volume = $52,631,729 (-50%). Also, total sales for immediately past 12 months: Residential = 836, Condo = 1,139, Land = 134.
Real Estate is Local. Maui is even more Local. Thus contact your trusted Realtor to get the real picture. Even from one condo to the next present very different scenarios. Therefore if you just read media reports and data and generalize what you read- you will be at a disadvantage.
Maui Real Estate Statistics- October 2010
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THE My Maui Home Search Team
Maui Real Estate Statistics- October 2010
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