Well, it's summer and Maui is still in the midst of a shutdown. Hawaii as a whole has had triple digit positive cases for almost a month. While Oahu has been in a work from home/stay home order since Thursday, us Mauians have been able to experience more "normal" thing such as going to the beach to swim or gather in small groups of five or less and practice social distancing. How has that affected South Maui's real estate market? Check this out...
Total number of new listing for August: 127 properties of which 108 are condominiums, 15 are homes and 4 are vacant land. Prices range from $299,000 to $23,500,000. 62 properties adjusted their pricing. 44 properties canceled their listings and 12 listings expired. Pending properties for the month of August are 13 that were listed and put under contract in the last 31 days. Out of the 13 properties, 10 are condominiums (6 vacation rentable) the other three are homes. Prices range for the 13 properties from $368,000 to $3,500,000. 72 properties sold in the month of August 2020 with 4 of them being listed and closed in the past 31 days. Prices range from $235,000 to $7,559,472. 27 properties sold for $1,000,000 or more. 10 of the 27 properties sold above $2,500,000.
That last paragraph has way too many numbers. In short, South Maui is selling but at a slower pace at prices close to asking. There are buyers ready, willing and able to purchase some of the most desirable pieces of real estate in the world.
Ken K.K. Wong REALTOR(S)
Coldwell Banker Island Properties