South Maui Market Update: Residential Real Estate More Valuable Than Ever
The unprecedented activity in the real estate market across the state of Hawai’i is no secret at this point. Across the island chain, we have seen historic levels of sales activity, especially in the luxury segment. As a result, real estate on Maui continues to grow in value.
Today, I’ll share an update on the sales and trends in South Maui’s real estate market.
Current active residential listings in South Maui are down more than 37% from the same quarter last year. And although there are less residential properties on the market than there were one year ago, there were 9% more sold listings in Q4 of 2021 than there were in Q4 of 2020.
Looking ahead, we anticipate that sellers will continue to take advantage of these market trends by trading up on their investments.
Inventory at an All-Time Low
A comparison of Quarter 4 2021 to Quarter 4 2020 indicates that the number of Maui homes available for sale has diminished as inventory is absorbed. Based on the Q4 Real Estate Market Report, current months of inventory available on Maui dropped from 3 months in Q4 2020, with the island coming in at 1.6 months in Q4 2021. And in South Maui, the real estate market has hit a record high in volume, while listing inventory is at an all-time low.
Downward Shift in Days on Market Continues
While some of the previous 12 months have been outliers, the overall trendline for Q4 of 2021 reveals a downward shift in the number of days that the average South Maui property is on the market before it sells. On the other hand, we’re seeing an upward trend in the average sales price of residential properties. And with demand so high, sellers will get an exceptional value for their investments.
You can find more information on the Q4 2021 Market Report here.
New Listings Command High Value
My latest listing, a single story home in Maui Meadows, is new on the market and commanding a high value. The exceptional panoramic ocean and mountain views, and close proximity to attractions and entertainment, have all helped to position South Maui properties like this as some of the most desirable on the island.
Ready to learn more?
Wondering What the Future of Maui Real Estate Holds?
For sellers, one thing is clear: Residential real estate in South Maui is more valuable than ever. And as the demand for more houses to hit the market in Makena, Wailea, Kihei, and throughout South Maui persists, sellers of property in highly desirable communities such as Maui Meadows will retain the clear advantage.
The future of Maui real estate depends on what you do today!