Where Is the Maui Market Heading?

Maui Real Estate Video Blog with Bruce Baker

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Today, I want to give you a quick Maui real estate market update, so you know exactly what's going when you go to buy or sell.

Prices here in Maui continue to rise, as the median average home price has risen to $577,000 and the median average price for land is up to $700,000. At the $1 million price point there has been a noticeable split; homes under that price point are selling much quicker than homes over it.

We're seeing increased showings and sales, multiple offers on well-priced properties, and hesitant home buyers when it comes to homes priced over $1 million. Cash is king when making an offer in Maui, as 42% of sales in the last few months have been cash transactions. The benefits of cash transactions are many: they give the buyer a strong negotiation position, with no financing or appraisal hassles, and a quick closing.

If you're selling, you need to get a leg up on the conditions by having your home in great condition, pricing your home right, marketing it effectively, and being flexible with your terms. Homes priced well are flying off the market, while overpriced homes tend to sit for a prolonged time and ultimately end up selling for less money. If you're buying, now is the time to take advantage of low interest rates. They are predicted to rise by the year's end, and we're unsure how long these wonderful market conditions will prevail.

Give us a call or shoot us a quick email if you need real estate assistance of any kind. We're always available to help, and would love to hear from you!