Sunday, December 27, 2009
Search
Blogs
Most Read
- Mililani fire intentionally set
- First family enjoys a quiet Christmas
- Obama's beach security is strict but still 'very cool, very friendly'
- President finishes round of golf and stops at the beach
- The gift of surf
- Man allegedly stabs family member at Christmas gathering
- Chinatown police signage needs work, group says
- Blaze destroys house of family of 5 in Waipahu
- Angel of comfort
- Stink rises from canal
Maui's home sales kept plunging in May
POSTED: 01:30 a.m. HST, Jun 09, 2009
Sales and median prices continued dropping in May for Maui's residential real estate market, according to a report released yesterday by the Realtors Association of Maui.
Single-family home sales fell 42.3 percent to 56 sales from 97, and the median price dropped by 14 percent to $487,500 from $567,000. Likewise, condominium sales fell 44 percent to 47 sales from 84, and the median price dropped 38.4 percent to $315,500 from $512,500.
"Similar to latest reports from many mainland markets, our market seems to be at or near the bottom," said Terry Tolman, chief staff executive for the Realtors Association of Maui. "The large inventory includes many short sales and (bank-owned) properties which will need to be absorbed as sales before we can move ahead."
Year to date, Maui's single-family home market has seen sales drop by 45 percent and the median price fall by 12 percent. For the year, condominium sales on Maui have fallen by 50 percent, and the median price has dropped by 28 percent.
"Best deals are selling; everything else is getting old," Tolman said.
Home salesMedian sales prices for single-family homes and condos sold on Maui in May with the percentage change from the same month last year: HOMES
CONDOS
|
Sales and median prices continued dropping in May for Maui's residential real estate market, according to a report released yesterday by the Realtors Association of Maui.
Single-family home sales fell 42.3 percent to 56 sales from 97, and the median price dropped by 14 percent to $487,500 from $567,000. Likewise, condominium sales fell 44 percent to 47 sales from 84, and the median price dropped 38.4 percent to $315,500 from $512,500.
"Similar to latest reports from many mainland markets, our market seems to be at or near the bottom," said Terry Tolman, chief staff executive for the Realtors Association of Maui. "The large inventory includes many short sales and (bank-owned) properties which will need to be absorbed as sales before we can move ahead."
Year to date, Maui's single-family home market has seen sales drop by 45 percent and the median price fall by 12 percent. For the year, condominium sales on Maui have fallen by 50 percent, and the median price has dropped by 28 percent.
"Best deals are selling; everything else is getting old," Tolman said.
Home salesMedian sales prices for single-family homes and condos sold on Maui in May with the percentage change from the same month last year: HOMES
CONDOS
|
Today’s Edition
- Protesters seizing moment to air out their concerns
- Fireworks retailers optimistic
- Entangled humpback whale rescued
- Heart recipient shows gratitude
- Some UH staff still on duty during break
- Ocean noise pollution turns up with greenhouse gas emissions
- Endangered parrotbills might be thriving
- Whatever Happened To: Ex-Hawaii cruise ship Independence
- 10 Who Made a Difference: Ku Kahakalau
- Newswatch
- Police and Fire
- Shining Stars
- Island Images
- Defendants pay for bail monitors to stay free while on trial
- Bond between a town and its railroad is tested
- Own a piece of 'Lost'
- Grand slam with STOMP at Hawaii Theatre
- Art show becomes a lesson in collaboration
- Manga's marvelous year
- Da Kine
- Thorney's Zoo
insideStarBulletin.com
