Here are my two cents on Maui Meadows market activity in the first half of 2019. Maui Meadows continues to be a hot market with twelve (12) closed sales in the first half of the year which is a 25% drop compared to 16 sales during the same time frame last year. Eight (8) of those sales were cash transactions, and four (4) were financed purchases.
Mid Year Market Update
Here is the breakdown:
- The sold prices ranged from $645,000 (short sale- unlisted property) to $2,150,000.
- The median sold price in the first half of 2019 was $1,442,500 versus $1,335,000 during the same time frame in 2018, which represents an increase of 8%.
- The average days on the market of the sold listings was 146 days with the quickest sale being 53 days on the market (Maui MLS counts escrow days as part of DOM).
Current Listings at Maui Meadows
There are currently three (3) properties under contract in escrow with asking prices ranging from $1,189,000 to $1,575,000; all three contracts have June dates.
If you are actively looking for a Maui Meadows property, there are eleven (11) listings available to choose from. Asking prices are ranging from $895,000 for a 1B/1B cottage to $2,750,000 for a home currently under construction. Two of those listings are back on the market after either expiring or being canceled last year. There is one (1) property at Kaimanu Estates currently for sale, listed at $3,995,000. The days on the market for those active listings are ranging from 17 to 410.
Inventory at a Record Low
Islandwide, our inventory levels are at a record low, and Maui Meadows is showing similar projections. The properties that are priced well, in good conditions and without permit issues, are selling and selling fast! Also, the listings with ohanas or accessory dwelling continue to be the preference in Maui Meadows; 9 of the sold properties did have an ohana.
I live in the neighborhood, and you can see me walking my dogs all the time. Feel free to stop me and ask questions; my dogs don’t bite 😊