Aloha & Good Morning!
Today Maui will be full of abundant sunshine
and a high of 87 degrees!
This Friday is the
first day of summer and we will surely see the temperatures rising. We
will also see Maui real estate sales rising too! Check out the recent stats for May that The
Realtors Association of Maui just released.
Below you will find two
sets of numbers for residential, condo and land sales. The first data table shows the total number
of units sold for the first five months of the year and compares both 2013 and
2012. The second grid of numbers shows
the median sales price for the same time frame.
The number of
residential units sold was up 10% from last year to this year. The median sales price on residential sales
rose by 22% from last year's numbers!
Condos saw the same number of units sold for the first five months of
the year. However, the median sales
price rose by 7%! Land sales also were
up by 16% for the number of sales and up 24% for the median sales price. The numbers are compiled from the sales of
units for January through the month of May and March and we are comparing 2013
data with 2012 data.
The Realtor Association
of Maui states residential sales in May rose to a six-year high with 105 units
sold. They said that condos remained steady at 138 units sold and that sales
came in at 18 units sold. They also make
not that inventories have now fallen by 17-19%.
The Maui News had an article this week that showcases this very
well. Read the full article on the link
below.
ARTICLE:
"The steals are gone': Real Estate Market Improving - The number of Maui homes and condos that are currently
"for sale" are at a multiyear low.
Successful sales are
happening right now. If you are
interested in selling you need to go into the market with a realistic
view. Properties that are priced to sell
are going into escrow very fast but if you are expecting too much you will get
passed by for better priced sales. Call
me today to find out the comparables in
your neighborhood or building.
I'm very happy to get you the data you need to make an informed price
decision that will sell your property fast!
If you are a buyer... be
aware of fluctuating interest rates. The
rates are still low but they have been nudging up and the trend could continue.
Start by getting yourself pre-approved so you can shop with confidence and
find your dream Maui address. You can call or email me today and we can set
up a meeting to determine what you want in your next Maui real estate
purchase.
RESM
IS MOBILE
In case you missed the BIG ANNOUCMENT'S in the last few newsletters.. the
new Real Estate Sales Maui Mobile App is now available. The mobile app is free for download on both
Android and Apple products. The app allows you to search for properties on Maui and neighboring islands. You will be able to quickly review property pricing, location and detailed listing information. In the RESM app you can scroll through photos of homes, condos, time-shares, businesses and vacant land for sale and you can use an interactive map to find your property. You can also save your favorite properties and have one touch access to recent property searches you've made. Check out all that this app has to offer and download it today for FREE!!!
WINDERMERE VALLEY ISLE PROPERTIES FOUNDATION
Windermere Real Estate as a company was founded on the principal of
"Give to your community and your community will support you in your
business!" I truly love and
appreciate this philosophy and it is a big reason why I chose to have my Real
Estate license at Windermere! Windermere
Valley Isle Properties on Maui works for the W.V.I.P. Foundation and all the
money is kept on Maui. In a collective
role of involvement all of the Windermere offices across the country close down
for an annual "work day". None
of us are allowed to do Real Estate on that work day as we are putting all our
efforts back into our communities. This year our community work day will be held on Friday June 21st and we will be cleaning up and beautifying the Maui Farm by painting the playground equipment, working the organic garden and cleaning the clubhouse.
Don't forget to get your name in for this
year's exciting i-Pad giveaway!
Looking for more great articles, videos and advice? Check out the Real
Estate Sales Maui Team on FACEBOOK,
TWITTER, BLOGGER and PINTEREST Looking for the current Bank Owned Foreclosures on Maui? Click HERE.
Last
Week In The News
Retail sales rose 0.6% to $421.1 billion in May. This follows a 0.1%
increase in April. Compared to May 2012, retail sales have increased 4.3%.Wholesalers increased their inventories 0.2% to $504.8 billion in April. Sales at the wholesale level rose 0.5% to $416.6 billion in April. On a year-over-year basis, sales were 0.7% higher than April 2012. The seasonally adjusted wholesale inventories/sales ratio in April was 1.21.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending June 7 rose 5%. Purchase volume rose 5%. Refinancing applications also increased 5%.
The Reuters/University of Michigan consumer sentiment index for June's preliminary reading fell to 82.7 from 84.5 in May, which was the highest reading since July 2007.
Industrial production at the nation's factories, mines and utilities was unchanged in May after a 0.4% decrease in April. Compared to May 2012, industrial production has increased 1.6%. Capacity utilization fell to 77.6% in May from 77.7% in April.
The producer price index, which tracks wholesale price inflation, rose 0.5% in May, following a 0.7% decrease in April. On a year-over-year basis, wholesale prices were up 1.7% in May. Core prices — excluding food and fuel — rose 0.1% in May.
Initial claims for unemployment benefits for the week ending June 8 fell by 12,000 to 334,000. Continuing claims for the week ending June 1 rose by 2,000 to 2.952 million. The less volatile four-week average of claims for unemployment benefits was 345,250.
Upcoming on the economic calendar are reports on the housing market index on June 17, housing starts on June 18 and existing home sales on June 20.
Craig
Haueisen is a Loan Officer with Prospect Mortgage. Please feel free to
email him or call him for any of your Mortgage needs.
Office: 808-298-7549 or Email: craig.haueisen@prospectmtg.comClick here to visit Craig's website and apply online: http://myprospectmortgage.com/CHaueisen
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