Market trends last month are similar to July on Maui. Prices remain high but overall prices have increased 13% when compared to this time last year, however, there has been a 39% decrease in the number of sales when compared to last year at this time.
In July, there were 87 single-family homes sold, which is a decrease of 28.7% when compared to August 2021. There were 104 condos sold last month on Maui, representing a 45% decrease when compared to this time last year.
The average days on the market for single-family homes increased slightly from 70 days in July to 77 days in August 2022. This represents an increase of only 1.3% compared to last year. The average days on the market for condos increased when compared to July from 62 days to 72 days in August. This represents an increase of 7.5% compared to last year.
The median sale price for single-family homes in Maui was $983,575 in August 2022, which is a slight decrease when compared to July 2022 when the median sales price was $1,100,000. Compared to last year at this time there has been a 5.9% decrease in the median sales price. For condos, the median sales price last month increased slightly from $789,500 in July to $814,190 in August. This represents an increase of 26% compared to this time last year.