March 30, 2014 | Scott Innes
Sales volume of homes, condos and land on Maui declined slightly over the same time last year. Maui Market Report concludes unit sales of homes decreased by 6 units for a total of 60 homes sold. Unit sales volume of condos decreased by 14 units to a total of 87 condos sold and Land sales decreased by 3 units to 11 lots sold in February. Overall sales volume on Maui in February was down slightly compared to February of 2013.

Median sales prices on Maui were mixed with home median sales price increasing to $560,000 from $537,500 a year ago and condo median prices declining slightly to $345,000 from $360,000 last February. Land median sales price decreased to $400,000 from $502,500 a year ago. It’s important to note that median price changes reflect the distribution of sales within a category and can have larger swings if there are a higher number of sales at either end of the price spectrum – more sales at the lower price points or more sales at the higher price points will cause larger swings in the median price in either direction. This does not necessarily reflect a market trend with a month ago year to a month ago comparison. Median price point comparisons over longer time periods are a better indicator of market trends.

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