The seismic froth that was the 2021 Maui real estate is receding, but make no mistake the residual cocktail of our nation's economic & media stimulus mixed with stay at home remote work culture still remains. Across the board, the water cooler talk is still the same (except that it's virtual cooler talk).
West Maui property prices are high and inventory is extremely low. Seller's are driving the bus. We can throw comparative sales out the window, today's market is all about listing /pricing based on "what's available" now...which is very little. While we've seen that sales volume is slowing and more price drops recently, the market is still ahead of 2019 when the environment was by our standard, churning.
However, as 2020 showed us...things can change fast. These are the numbers behind the headlines.
West Maui Winter / Spring 2022 Headlines
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- Inventory 157 properties actively listed, a 27% increase over last month's snapshot.
- Median price single family home $4.5M (not a typo) 41 are listed. Condo median price is $1.5M
- Sales Volume is down 31% (Homes, Condo, Land).
- Absorption Rate - West Maui has 1.7 month's of inventory on the market available
- Sales Reports PDF's
Sales Prices
- 2022 West Median Sales Prices
- Homes: $2,350,00
- Condos: $870,000
- Land: $900,000
- 2022 West Maui Highest Priced Sales
- Home – $9,350,000 | Lahaina Town
- Condo – $8,000,000 | Montage Residences Kapalua Bay
- Land – $8,900,000M | Kaanapali - Kai Ala
- 2022 West Maui Lowest Priced Sales
- Home – $705,000 | Lahainaluna
- Condo – $265,000 | Napili Sunset
- Land – $418,000 | Kahana Ridge
Inventory & Absorption Rate
Absorption rate is technical term that demonstrates the rate at which available homes are sold in a specific market over a specific time. This computation shows how long it will take to exhaust the current inventory supply. As of 6/13/2022, there are 157 active properties for sale in West Maui with 1129 properties selling in the past 12 months. Currently there is only 1.67 months of available properties for sale in West Maui.
- West Maui home, land, and condo inventory has increased by 33 units or +27% since last month.
- Home Absorption Rate – 2.9 months
- Condo Absorption Rate – 1.25 months
- Land Absorption Rate – 3 months
Want to Know More?
If you are in the market for buying or selling West Maui real estate or have any questions about the area or the market in general, please feel free to contact me. I welcome the opportunity to give you information on my previous sales performance and marketing strategies. Or if you’re curious about what your property is worth in today’s market, it would be my pleasure to provide you with property information and a value assessment free of any sales pitch.
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