Most Maui homes selling for under $500,000 - Hawaii News Now - KGMB and KHNL

Most Maui homes selling for under $500,000

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By Howard Dicus - bio | email

KAHULUI (HawaiiNewsNow) - More than half of the homes that went to closing in January, sold for less than $500,000, the Realtors Association of Maui reported Monday.

There were 45 home sales and 71 condo sales in Maui County during January, the association said. Home sales pace fell from December, possibly because many buyers and sellers had timed closings for the previous calendar year, the real estate agents said.

More than half of the home sales were in Kihei, the Central plain, or Pukalani, while most of the condo sales were in West Maui north of Lahaina.

The association said 65 condo sales in Konua Kai for an average price above $1 million skewed the countywide median price higher, to $424,000. The median, which most real estate agents consider a better indicator than the average price, is the point at which half the sales are for more and half for less.

Earlier reports on home sales on Oahu, Kauai and the Big Island indicated increasing sales volume, and on Oahu higher prices, as buyers take advantage of continued low mortgage rates.