The beat goes on, here on Maui. Median home price has slipped ever so slightly since last month but is still over $1 million—a historical high for consecutive months now. Towards late summer things do tend to slow down a bit*. Another contributing factor can be the lack of inventory, with some listings that did not attract buyers right away feeling a little stale. When a great new property comes on line it will still typically be in escrow within a week, unless the seller and their agent are sifting through multiple offers! 75-80% of all sales are still closing at or above asking price.
*I typically consider Pending sales rather than Closed sales as a more accurate measure of trends moving forward. Closed sales are typically reflective of sales initiated 30-60 days prior.
…at market trends across the country
and perhaps in your area, here’s an article that breaks down things like home price expectations and mortgage rate expectations for the immediate future. As with most statistics, they can present in such a way that they become a two-sided coin, so to speak. When sellers were queried on whether this was a good time to sell, roughly 75% said “yes”. When buyers were asked the same question, conversely 75% said “no”. Click here
to read the entire article.
…when you get here,
there has been a bona-fide shortage of Ahi throughout the State. This is an extremely rare occurrence but one that cannot be overlooked. I am an admitted “Ahi Poke Junkie” and can hardly let a day go by without a small container of Tamura’s Spicey Ahi (absolutely da kine!) meeting its match pitted against a pair of deftly managed chopsticks in my hand. The photo below is of a plate of Poke Nachos (not all Ahi) from Poke on Da Run in Pearl City,
Oahu. After five days of no Ahi, Tamura’s got a small amount at a ridiculous price of $23.99/lb. but I didn’t care! I was first in line.
…and yes the days are warm, but a dip in the beautiful blue Pacific will revive and refresh in so many different ways. Actually, temps have been running a few degrees cooler than the last 3 or 4 summers, and if you’re selective about the beaches you hang out at, you can always find a few shady spots. I like to recommend Keawakapu Beach, at the north end by the Mana Kai, where you can park your blanket on a grassy lawn, enjoy the convenience of a small store for drinks and snacks, a place to rent paddle boards and snorkel gear, and public showers to wash the sand off after a dip in the ocean.
And just a heads up! I will be listing a very nice 4BR/3BA split-level home in one of Maui’s most sought-after neighborhoods the first part of September. Features include 30 pre-paid until 2037 PV panels on the roof that virtually take one off the grid, along with highly efficient split-system A/C handlers in three parts of the house and tinted dual pane windows throughout for max insulation–and so much more. Home will be priced just over $1 million.
For more information, please contact me by phone.
For now, a hui hou! (…til we meet again)
Maui Realty Associates
(808) 283-9093 cell
(808) 879-5510 fax