Maui Market Report for March 2023
Maui’s overall real estate market showed some life as total sales for single-family homes, condos, and vacant land jumped to 206 total transactions, up significantly from the recent lows of 125 total transactions last month. Despite increased sales activity, days on market continue to tick upward with properties selling in 109 days for single-family homes and 75 days for condos. The recent uptick in sales activity is likely in part to mortgage interest rates dropping from 7% to just above 6% in January. With mortgage rate volatility expected to continue throughout the year, it is important to remember that monthly stats are a delayed indicator of past market conditions.
SINGLE-FAMILY HOME TRANSACTIONS
MARCH 2023 VS. PERCENT CHANGE OVER LAST YEAR