by Maui Real Estate 808 on Monday, July 11, 2011 at 12:18pm
Brief Maui Statistics Overview:
June's Sales Volume – June’s Residential Sales rose to 81 homes sold, while Condo Sales declined to 101 units sold. Land sales came in at 13 lots sold.
June's Median SALES prices – Home median prices rose to $429,000, while Condo median prices dipped to $295,000. Land median price rose to $299,000.
Days on Market for Residential homes = 141 DOM, Condos = 147 DOM, Land = 145 DOM. (General DOM Note: this is the average DOM for the properties that SOLD. If predominantly OLD inventory sells, it can move this indicator upward, and vice versa. RAM's Days on Market are calculated from List Date to Closing Date [not contract date]. As such, it includes approximately 60 days of escrow time.) Also – Short Sales transactions can often take 4-6 months to close thereby extending the marketplace’s average DOM.
"Year to Date Sales" numbers only compare January-June 2011 to January-June 2010. Short timeframe (monthly) views do not necessarily reflect the longer timeframe trends.
Year to Date: Comparing January-June 2011 to January-June 2010 - Residential unit sales rose (+4%), average sold price = $732,569 (-4%), median price = $445,000 (-5%) and total dollar volume sold = $324,528,034 (-1%). This reflects the bump up last year due to 2009-2010 Federal Tax Credit programs and 2011 numbers will probably catch up as the year progresses.
Condo unit sales decreased (-3%), average sold price = $527,534 (-30%), median price = $325,000 (-24%). Total Condo dollar volume sold = $340,259,146 (-33%).
Land – NOTE: Land Lot sales are such a small sampling that statistics in this property class are not necessarily reliable indicators. Land lot sales decreased (-3%), average sold price = $643,744 (+20%), median price = $315,000 (-30%), Total dollar volume = $44,418,351 (+17%).
Also, total sales for immediately past 12 months: Residential = 830, Condo = 1,125, Land = 124.
Current Absorption Rate base on this month’s Active inventory divided by June Sales is: Residential = 10.7 months, Condo = 11.1 months, Land = 39.6 months.
June's Sales Volume – June’s Residential Sales rose to 81 homes sold, while Condo Sales declined to 101 units sold. Land sales came in at 13 lots sold.
June's Median SALES prices – Home median prices rose to $429,000, while Condo median prices dipped to $295,000. Land median price rose to $299,000.
Days on Market for Residential homes = 141 DOM, Condos = 147 DOM, Land = 145 DOM. (General DOM Note: this is the average DOM for the properties that SOLD. If predominantly OLD inventory sells, it can move this indicator upward, and vice versa. RAM's Days on Market are calculated from List Date to Closing Date [not contract date]. As such, it includes approximately 60 days of escrow time.) Also – Short Sales transactions can often take 4-6 months to close thereby extending the marketplace’s average DOM.
"Year to Date Sales" numbers only compare January-June 2011 to January-June 2010. Short timeframe (monthly) views do not necessarily reflect the longer timeframe trends.
Year to Date: Comparing January-June 2011 to January-June 2010 - Residential unit sales rose (+4%), average sold price = $732,569 (-4%), median price = $445,000 (-5%) and total dollar volume sold = $324,528,034 (-1%). This reflects the bump up last year due to 2009-2010 Federal Tax Credit programs and 2011 numbers will probably catch up as the year progresses.
Condo unit sales decreased (-3%), average sold price = $527,534 (-30%), median price = $325,000 (-24%). Total Condo dollar volume sold = $340,259,146 (-33%).
Land – NOTE: Land Lot sales are such a small sampling that statistics in this property class are not necessarily reliable indicators. Land lot sales decreased (-3%), average sold price = $643,744 (+20%), median price = $315,000 (-30%), Total dollar volume = $44,418,351 (+17%).
Also, total sales for immediately past 12 months: Residential = 830, Condo = 1,125, Land = 124.
Current Absorption Rate base on this month’s Active inventory divided by June Sales is: Residential = 10.7 months, Condo = 11.1 months, Land = 39.6 months.
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