Maui Real Estate Market Update: May 2024 Market Overview
In May, there were 111 new listings for single-family homes and 216 new listings for condominiums.
Compared to this same time last year, that is an increase of 41.8%. Inventory increased 14.3% for single-family homes and 221.4% for condominium homes.
In May, there were 74 single-family homes sold, which is up from April, when 69 homes were sold. This represents no change when compared to May 2023.
There were 76 condos sold last month on Maui, down from 103 sales in April. Compared to this time last year, this represents a decrease of 16.5%.
The average days on the market for single-family homes increased in May to 104 days. This represents a decrease of 11.1% when compared to May 2023.
The average days on the market for condos decreased from 127 days in April to 100 days in May. This represents an increase of 25.0% when compared to this same time last year.
In May, the median sales price for single-family homes on Maui was $1,297,500, compared to $1,300,000 in April. This represents an increase of 2.0% when compared to May 2023.
For condos, the median sales price last month decreased from $962,500 in April to $840,500 in May. This represents an increase of 1.3% when compared to this same time last year.