Maui Market Data - August 2020

Dated: September 15 2020

Views: 266

January 2020 - August 2020

The market shows a beautiful “V” shape seen in the graph below. Mostly rebounded we are far from the decline when the Covid-19 pandemic began. 

The housing and stock markets continue to be the leaders in the economy. In August, showings and

pending sales remained at strong levels while housing inventory remained limited, continuing the

competitive bidding market we have seen in recent months. With the stock indexes at or near record

highs as mortgage rates remain near record lows, signs point to a busy fall housing market. 

August 2020

  • New Listings decreased 4.4 percent for Single Family homes but increased 97.0 percent for Condominium homes. 

  • Pending Sales increased 26.7 percent for Single Family homes but decreased 20.0 percent for Condominium homes. 

  • Inventory decreased 25.9 percent for Single Family homes but increased 53.9 percent for Condominium homes. 

  • Median Sales Price decreased 3.2 percent to $799,000 for Single Family homes but increased 18.9 percent to $591,000 for Condominium homes. 

 

  • Days on Market decreased 5.1 percent for Single Family homes but increased 45.0 percent for Condominium homes. 

  • Months Supply of Inventory decreased 18.0 percent for Single Family homes but increased 97.4 percent for Condominium homes. 

As we look towards the fall, we normally see housing activity begin to slow a bit as the back-to-school season begins, but this year is far from normal. While uncertainty remains on what effects the upcoming elections and any seasonal resurgence of COVID-19 may have on the financial and housing markets, the healthy housing demand we see today will create significant tailwinds in the near term.

For currenly available condos visit Condos - eXperiencingMaui.com

For currenly available homes visit Homes - eXperiencingMaui.com

For more statistics visit Realtors Association of Maui

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Jyoti S. Young

Jyoti treats her clients as family and truly is an advocate for them. Her attentiveness, tenacity and passion in real estate stems from her love of people and her desire to be of service. She is a mem....

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