Maui June Real Estate Statistics are out and the menu is mixed.
Many of these sales are still a result of the first home buyer tax credit which had to close by June 30th.
So volume of sale was up as expected, but prices are flat to decreasing.
Residential units rose to 43% but w/average sales price up 2% and median down by 7%.
Condo units rose to 64% volume sold, but had a harder time with the pricing with average sales down 11% and median down 32%.
That is painting our picture here on Maui at this time. If it is below median and priced right it is selling, but the higher price and lets wait and see isn't working. Our current absorption rate for residential and condos is over 13 months making it still very much a buyers market.
The biggest surprise to investor and buyers at a lower price point is that you are competing and homes/condos that are great values like most REO properties have multiple offers at or above full price within a day or two so having an agent who is hardworking for you and stays on top of the inventory is a great asset.
If you would like to view the full report and search the Maui MLS just visit: http://www.fineislandproperties.com/
We look forward to assisting you.
Aloha, Gina Duncan, R (S) ABR, e-Pro, SFR
Mauigina@gmail.com
808-250-9858
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