Maui real estate sales for the first 11 months of 2008 remain soft as inventory remains extremely high.
Specifically, for the period 1/1/08 through 11/30/08, single family home sales declined -19% vs. the same period YAG to 852 transactions. Both Average ($836,396) and Median ($579,000) home sale prices showed modest declines for the period (both by -9%) when compared to YAG.
Condominium transactions for the first 11 months of 2008 declined -32% when compared to same period YAG to 752 sales. Both Average ($926,449) and Median ($550,000) sale prices showed strength vs. YAG (+15% and flat respectively) solely due to the sale of several high end condominiums in the Wailea area.
Regarding land, 2008 sales for the first 11 months totaled 95 transactions, down -55% vs. YAG period. However, given the sale of several parcels in Olowalu, both Average ($981,877) and Median ($700,000) sale prices increased by +17% and +25% respectively.
About Mike Gaertner, R(B):
As 30+ year veterans in international and domestic branding, marketing, negotiating and sales and with our extensive Island knowledge, we are uniquely qualified to provide you with the buying and selling strategies, programs and support you deserve. In helping you "Make It Maui," please know that our experience with many of the world's best known and most demanding companies has taught us that your needs are paramount and that we must provide you with extraordinary focus and attention.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
