Maui, Hawaii is a tropical spot known for its beautiful beaches and amazing outdoor activities. Because of that Maui is both a great vacation spot and good real estate location. And for those who want to own a property in Maui, they can go over the current market insights from by the Realtors Association of Maui's statistician, Terry Tholman, as shared by Realtor Dave Futch.
According to Maui.com, the numbers reported also provide information on unit volume and median price. Based on the figures more people have become interested in owning properties in Maui as 105 more residential sales were sold for the month even if the residential median price has increased to $585,000. Condominium caught up by having sold 105 units as well, with the small decrease in median condominium price to $392,000.
As for the year-to-date statistics, over the period of about 10 months the residential unit sales are up by 15 percent and the increase in the residential media price was 3 percent. The total dollar volume sold also increased and is now at 12 percent. On the other hand, the increase in unit sales for condominiums is only 1 percent with the media price dropping to 3 percent. There has been no change in the total condo dollar volume sold. It should be noted that 36.6 percent of the sales have been made with cash.
According to Maui.com, reports have also shown that the Canadians are the big players in Maui's real estate. But now that the current exchange rate is US $0.75 to Canadian $1, the Canadians might choose to sell than buy. It was also mentioned that the mortgage interest have slightly increased so now might be the best time to purchase properties so buyers can get more value for their money.
