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Inventory remains historically low with only 1.2 months of supply, which is similar to where the supply has hovered for nearly six months. In January, there were 92 single family homes sold, which is a decrease of 8.9% more than were sold last January in 2021. This also represents the lowest number of sales in a month that we have seen since July 2020. There were 155 condos sold last month on Maui, representing a 35.7% increase when compared to this time last year.

The average days on the market for single family homes increased slightly from 74 days in December to 81 days in January 2022. This represents a 16.5% decrease in number of days spent on the market for single family homes when compared to January 2021. The average days on the market for condos sold last month increased slightly from 55 days in December to 67 days in January days , representing a decrease of 42.7% when compared to this time last year.

The median sale prices for single family homes on Maui jumped again last month from $1,075,000 to $1,157,000, representing a 18.1% increase when compared to this time last year. 58% of all homes sold were priced at $1,000,000 or more. Homes in this price range have spent 32% less time on the market last month when compared to this time last year.

For condos, the median sales price in January was $713,750. This represents an increase of 27.5% when compared to this time last year. 25% of these condos were $1,000,000 or more- an increase of 100% in condos sold at this price range when compared to January 2021.