Brief Maui Statistics Overview:
Page 4 – July’s Sales Unit Volume
– Residential sales decreased slightly to 92 homes sold while Condominium sales remained steady at 110 units sold. Land sales dipped to only 7 lots sold in July.Page 5 – July’s Median SALES prices
–The Residential median price decreased to $599,000 while the Condo median price increased to $440,000. Land median price decreased to 490,000.
Page 6 – Days on Market, Residential homes = 113, Condos = 154 DOM, Land = 85 DOM. (General DOM Note: this is the average DOM for the properties that SOLD. If predominantly OLD inventory sells, it will move this indicator upward, and vice versa. RAM’s Days on Market are calculated from List Date to Closing Date [not contract date], including approximately 60 days of escrow time.)
Pages 10 – 14 – This month’s “Year to Date Sales” numbers compare only the first seven months, January-July 2016 to January-July 2015. Shorter timeframe (monthly) views do not necessarily reflect the longer timeframe trends. For a more comprehensive view, see 2015’s Year-End (Dec. 2015) figures available at: http://www.ramaui.com/UserFiles/File/Stats/All-December2015.pdf
YTD – Residential unit sales remained steady (625 homes sold / -1 units / 0% change YTD), average sold price = $891,733 (-6% change YTD), median price = $625,000 (+4% change YTD) and total dollar volume sold = $557,332,840 (-6%YTD). [Note: Drop in this year’s Wailea/Makena Residential YTD Total Dollar Volume was caused by a record high sale last April, 2015.]
YTD – Condo unit sales increased (755 units sold / +53 units sold/ +8% change YTD), average sold price = $640,662 (-2% change YTD), median price = $430,000 (+4%YTD). Total Condo dollar volume sold = $483,699,738 (+6% change YTD).
YTD – Land – NOTE: Land Lot sales are such a small sampling that statistics in this property class are not necessarily reliable indicators. The number of Land lot sales decreased (88 lots / -4 unit change / -4% YTD change), average sold price = $681,961 (-4%), median price = $504,500 (+3% change), Total dollar volume = $60,012,601 (-8% YTD).
Total sales for immediate past 12 months: Residential = 1,089 (with 10.4% being REO or Short Sale), Condo = 1,246 (4.8% REO or SS), Land = 150 (3.3% REO or SS). NOTE: 36.5% of these Sales in the last 12 months have been CASH transactions.
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