Happy Holidays from Maui

The economy is improving, unemployment is falling, and the U.S. real estate market remains strong as we head into the holiday season, a period when activity typically slows as people take time to travel, celebrate, and spend time with loved ones. Although the market is not as frenetic as was seen earlier this year, buyer demand is high, bolstered by attractive mortgage rates and a low supply of inventory.

Happy Holiday’s From My Family To Yours

Featured Listing of the Month

712 Front Street, Lahaina, HI Peter Lik GalleryI
Retail Property | Interior Area 3,308 sf | Land Area: 0.05 acres
$8,200,000.00

Rare opportunity! Historic Commercial building in Lahaina on Maui. Circa 1920. Ocean-facing commercial building occupying approximately 91′ frontage on Front Street. Home to the world-renowned Peter Lik Gallery since 2004 and gallery will consider a lease back. Main level is approx. 2542 sq/ft with soaring ceilings, bright interior lighting, and gorgeous wide-plank Brazilian walnut floors. Also includes private offices and viewing rooms, 3 restrooms, and an upper level with approx 360 square feet of office/storage space. Now CPR’ed into separate spaces.

Market Update November 2021

Maui Market Quick Facts

+6.3% – Change in Number of Closed Sales
+16.8% – Change in Number of Median Sales Price
-67.5% – Change in Number of Homes for Sale

New Listings increased 2.9 percent for Single Family homes and 9.4 percent for Condominium homes. Pending Sales increased 14.0 percent for Single Family homes and 18.1 percent for Condominium homes. Inventory decreased 513 percent for Single Family homes and 81.4 percent for Condominium homes.

Median Sales Price increased 16.0 percent to $989,000 for Single Family homes and 29.3 percent to $725,000 for Condominium homes. Days on Market increased 3.6 percent for Single Family homes but decreased 42.6 percent for Condominium homes. Months Supply of Inventory decreased 63.4 percent for Single Family homes and 90.1 percent for Condominium Homes.

The most recent data from the National Association of REALTORS® reports the median single-family existing home sales price rose 16% in the third quarter of this year to $363,700, with all four regions of the country experiencing double-digit price growth. In new construction, builder confidence increased in November, surpassing analyst expectations and rising to 83 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), the highest level since spring, despite persistant labor and supply chain challenges and a shortage of available lots.

2021 Goal to Learn How to Draw!

Vladimir Kush inspired “Black Purse”

If you are in the market to sell your Maui home, it will be my pleasure to provide you with a complimentarymarket analysis of your property. Please allow me to use my 25-year West Maui experience, powered by the Keller Williams’ impressive worldwide network, toyour advantage. I look forward to hearing from you. I hope all is well. Stay healthy!