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November sales and prices for Maui’s single-family houses and condominiums rose from the same month a year ago, according to a report Monday by the Realtors Association of Maui.
Single-family home sales rose 10.5 percent from November 2011 to 84, and the median price rose to $467,500, a 10.7 percent gain from the previous year.
Likewise, year-over-year condominium sales increased 24.7 percent to 96, and the year-over-year median price jumped 47.5 percent to $390,945.
Properties that are in good condition and priced right are attracting multiple offers, Terry Tolman, chief staff executive for the Realtors Association of Maui, said in an email.
However, unrealistic sellers continue to be ignored by the market and miss opportunities, Tolman said.
“Best deals are selling; everything else is getting old,” he said.
For the year through November, Maui’s residential home sales rose 4 percent, and the median price rose 7 percent to $465,000. Total sales volume for single-family homes dropped 9 percent to $579 million for the first 11 months of the year.
Similarly, year-to-date condominium sales rose 4 percent. However, the median price through November rose 14 percent to $353,990. Total sales volume for condominiums through November dropped 3 percent to $515.5 million.
HOME SALES |
The number of homes sold on Maui in November with the median price and percentage change from the same month last year: |
HOMES |
|
SALES |
MEDIAN PRICE |
November 2012 |
84 |
$467,500 |
November 2011 |
76 |
$422,500 |
Pct. change |
+10.5% |
+10.7% |
CONDOS
|
|
SALES |
MEDIAN PRICE |
November 2012 |
96 |
$390,945 |
November 2011 |
77 |
$265,000 |
Pct. change |
+24.7% |
+47.5% |
Source: Realtors Association of Maui |