Maui Market Snapshot May 2024

Posted by Island Sotheby's International Realty on Tuesday, June 11th, 2024 at 11:14am

U.S. existing-home sales fell for the second month in a row, sliding 1.9%month-over-month and 1.9% year-over-year, according to the National Association of REALTORS® (NAR), with sales down in all four regions of the country. Higher borrowing costs and accelerating home prices continue to weigh on demand, pushing some prospective buyers to the sidelines and causing market activity to slump ahead of summer.

 

Maui: Year to Date 2024 vs. Year to Date 2023

New Listings increased 18.0% for Single Family homes and 54.4% for Condominium homes. Pending Sales increased 4.1% for Single Family homes but decreased 15.2% for Condominium homes.

Median Sales Price increased 11.1% to $1,300,000 for Single Family homes and 5.4% to $865,000 for Condominium homes. Days on Market increased .8% for Single Family homes but decreased 8.7% for Condominium homes.

Home prices have continued to climb nationwide, despite an uptick in inventory this year.

Click HERE for the full May Market Report

 

Leave A Comment

Format example: yourwebsitename.com

What's Your Home Worth? Find out now, for Free.

Let's Go