Howard's Business Report: Final January home sales report - Hawaii News Now - KGMB and KHNL

Howard's Business Report: Final January home sales report

(HawaiiNewsNow) - The last of the red-hot January home sales reports is in! Maui county had 45 home sales and 71 condos went to closing. That was fewer home sales than in December. Maui realtors think some sellers and buyers made a point of settling in December for tax purposes.

More than half of all the sales were in Kihei, Central or Pukalani. More than half of all sales were below $500,000.

Half the condo sales were in Kihei or Wailea-Makena. Most of the rest were north of Lahaina. Condo median rose to $424,000. The condo prices skewed up on 65 sales at Konua Kai for an average price well above a $1,000,000.

Maui home sales are currently averaging 224 days on market, from list date to closing. Allowing 60 days from contract to closing, that works out to about six months from listing to contract.

But Maui realtors say lots of people sell faster. The ones who don't are starting out with unrealistically high prices. Maui trends are also rocked by a number of short sales and sales made by the bank.

Maui realtors are also refreshingly candid in saying, yes, mortgage rates are near historic lows, but qualifications are stiffer.



Powered by Frankly