Aloha & Good Morning!
Today Maui will be mostly sunny with highs in the lower 80’s!
The Realtors Association of Maui (RAM) has released the August sales statistics. As I have done in previous months, you will see two sets of numbers below. The first set shows you how many units sold in each of the three categories: residential sales, condo sales and vacant land sales. The second set of numbers shows you the median price for each category. Each set of data compare the numbers for sales made from January through August and we look at 2014 vs. 2013.
From the August Sales States you can see the median sales price for all three categories has been on the rise when compared to 2013 numbers. Whereas, the number of units sold has had a slight decline.
Some other interesting statistics from RAM include numbers from the last 12 consecutive months in the calendar.
- Residential Sales are 945 units with 14.7% being REO or short sales
- Condo Sales are 1,273 units with 8.3% being REO or short sales
- Land Sales are 203 units with 5.9% being REO or short sales
I find all these numbers very interesting for both buyers and sellers. What is even more interesting is that according to RAM 44% of all sales in the last 12 months have been CASH transactions! That definitely makes cash kind on Maui right now and something to consider when coming to the table with your offers.
Don’t let rising prices remove you from looking at Maui Real Estate. There are still many great deals for qualified buyers. If you are intimidated by the buying process I am here to help you. You’ll want to start by getting prequalified with a lender. If you need help with this part of the process my team is here to help. Let us know what we can do for you today!
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