Aloha From Maui! – Island Update October 2020
On October 15th the island opened back up to travelers with a negative Covid-19 tests avoiding the 2-weekquarantine and it didn’t take long, the island is already bustling with activity .Front Street is packed and every restaurant I called last night that is open, was sold out. Here we go! Strong buyer activity has continued into the fall, which is normally the start of the seasonal slowing of the housing market. Stronger buyer activity in the market this year and the continued constrained supply of homes for sale is keeping our housing market hot.
Featured Listing of the Month
227 Anapuni Loop
Kaanapali, Maui, HI
.53 Acres | Ocean View | Bedrooms: 4 | Bathrooms: 4 | 3,620 sf
$3,700,000.00
Maui Living at it’s Finest
Perfectly located above the iconic Kaanapali Beach in the prestigious gated community of Lanikeha is a property built to the highest standards with attention to detail seldom found elsewhere
Ok, now Nature’s just showing off
Awesome views from Kula, Maui!
Market Update – October 2020
While mortgage rates remain near record lows, the Mortgage Bankers Association reports that lending standards are tightening, which makes it a bit more difficult for some buyers to qualify. At the same time, unemployment remains substantially higher than a year ago due to COVID- 19. Despite all this, buyers are out in full force this fall, showing amazing resilience in the middle of a pandemic. New Maui Listings decreased 3.9 percent for Single Family homes but remained flat for Condominiums. Pending Sales increased 31.8 percent for Single Family homes but decreased 9.3 percent for Condominium. Inventory decreased 27.4 percent for Single Family homes but increased 51.4 percent for Condominium. Median Sales Price increased 9.1 percent to $785,000 for Single Family homes but decreased 8.3 percent to $495,000 for Condominium homes. Days on the Market decreased 16.6 percent for Single Family homes and 15.3 percent for Condominium homes. Months Supply of Inventory decreased 20.4 percent for Single Family homes but increased 100.0 percent for Condominium homes.
For a comprehensive market update select the Monthly Market Statistics link below.
Lahaina News – October 1, 2020 – Volume 40
See what happens with a little more focus and a little less time at “Dean’s Bar and Grill”
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