Central Maui sales activity , including Wailuku, is way down with unit sales and dollar sales down over 50% from the same period a year ago.The medium sales price is down only slightly by comparison
Maui Real Estate Still in decline
The latest year to date statistics show that Maui continues on the downward spiral. There are sales but oh so many are bank sales and short sales. This in a period of really great prices and low interest rates. Most Maui Realtors appear to be optimistic that the decline is coming to an end. But it is difficult to make such a bold statement.
Residential sales on Maui through 9/30/2009 all show negatives compared to the same period last year. Total number of sales down 36%. The medium sales price is down only 16% which is encouraging. The all telling total dollar volume is down a whopping 48% so the Realtors are suffering.
Condominium total dollar volume sales usually are about the same as residential sales for each calendar year. So far this year this indicator is down 30%. The medium sales price is down 14% and total unit sales only 9%
One can never be sure if the bottom has been reached but it is easy to say that it's a great time to buy.
ZIP Code: 96793 Approximate Location Boundaries: Wailuku
Location Characteristics: Maui's home of County, State and Federal offices. A local community and not a usual tourist destination.
