Maui County home sales continue to reach record levels in January
Home sales in Maui County continue to reach record levels in January.
Home sales started the year where December left off — with increases in home sales and median sales prices. That’s according to the REALTORS Association of Maui’s monthly round-up of the county’s housing market.
Existing home sales increased 8.5% compared to January 2021.
The median price for a single-family home rose 18% in a year to $1.1 million, while the median price of a condo climbed to $707,000 — an increase of 26%.
Homes and condos are also selling faster than they were a year ago.
The REALTORS Association notes that with increases in median prices and sales, there are decreases in housing inventory, and even bids.
The association says the increase in prices and decreasing inventory may have forced buyers to either temporarily put their plans on hold — or priced them out of the market.