Like neighboring islands, Maui real estate sales increased last month compared to January and February of 2023. Read the full market report below!
READ MAUI MARCH 2023 MARKET REPORT
In March, there were 73 single-family homes sold, this represents a decrease of 29.8% when compared to March 2022. In March, the median sale price for single-family homes in Maui was $1,200,000 which represents a slight increase of 1.9% compared to last year. The average days on the market for single-family homes increased from 78 days in February to 109 days in March. This represents an increase of 67.7% when compared to this time last year.
There were 122 condos sold last month on Maui, representing a 34% decrease compared to last year. For condos, the median sales price last month dropped from the unusually high price of $908,000 in February to $798,250 in March. This represents a decrease of 1.5% compared to the previous year at this time. The average days on the market for condos increased from 61 days in February to 69 days in March. This represents a decrease of 16.9% when compared to this time last year.
New listings are down by 45% when compared to this time last year, however, supply is up significantly when compared to March 2022 which is a 2.5 months supply.