The number of sales in July throughout the Maui Real Estate market is down slightly from the previous month of June and the average days on the market are considerably up compared to this time last year. The median sales price for residential homes continues to climb while the Condo median sales price dipped in comparison to last month. Read more below!
READ MAUI ISLAND JULY 2023 MARKET REPORT
New listings in July for single-family homes and condominiums combined continue to remain below the number of new listings when compared to this time last year, down by 22.9%. The combined number of sales is also lower when compared to a year ago, down by 23.1%.
In July, there were 69 single-family homes sold, which is down slightly from June when there were 72 sales. This represents a decrease of 23% when compared to July 2022. There were 76 condos sold last month on Maui, down from 93 sales in June. When compared to this time last year, this represents a decrease of 23%.
The average days on the market for single-family homes increased from 69 days in June to 86 days in July. This represents an increase of 22.9% when compared to this time last year. The average days on the market for condos decreased from 73 days in June to 67 days in July. This represents a increase of 8.1% when compared to this time last year.
In July, the median sale price for single-family homes on Maui was $1,200,000, compared to $1,032,000 in June. This represents a 9% increase when compared to July 2022. For condos, the median sales price last month decreased from $979,900 in June to $845,000 in July. This represents an increase of 7% compared to the previous year at this time.