Condo and house sales rise on Maui during April, along with prices

KAHULUI—Homebuyers on Maui closed on more single-family homes and condominiums in April, according to the latest resale figures from the Realtors Association of Maui (RAM). The median sales prices for both categories also saw notable increases as single-family homes rose by 16.9%, while condominiums climbed by 8.4%, compared to April 2023.

Condo sales last month accounted for a total of 106 sales, compared to 90 in April, 2023. That’s an increase of 17.8% in sales compared to last year at this time. The median sale price of a condo in April, 2023 was $888,000 compared to last month’s median price of $962,500. That’s an increase of 8.4% in a year, according to RAM.

There were 69 sales of single family houses in April, compared to 58 in April, 2023, an increase of 19%. The median sale price of a single family home last month was $1.3 million, compared to $1.1 million in April, 2023. That increase equates to 16.9% in one calendar year.

The average sale price of a single family home on Maui saw a significant increase in April compared to last year, registering at $1,714,647 in April 2023 compared to $1,867,630 last month. That is good for an increase of 8.9% over the course of a year.

The analysis conducted by the Association using data collected from its Multiple Listing Service (MLS) system shows the number of new listings for single-family homes increased by 3.7% compared to the previous year, while new listings for condos rose by 36.6%. Additionally, the median days on the market for both single-family homes and condominiums was 112 days.

“Maui’s single-family home and condominium market remains strong, with both sales volume and median prices experiencing significant growth in April,” said RAM President Steve Baker. “These trends, coupled with a rise in new listings, indicate a healthy market with continued demand for Maui real estate.”