Fewer homes sold last month on Maui but they sold for generally higher prices, according to the latest data from the Realtors Association of Maui.
The trade association reported that the number of single-family homes tumbled 19 percent to 79 in February from 98 in the same month last year.
Condominium sales slipped only a bit, to 120 last month from 124 a year earlier.
Median prices rose by double-digit figures for both single-family homes and condos.
Single-family homes sold for a median $790,000 last month, up 15 percent from $684,350 a year earlier. Condo median prices rose 12 percent to $524,500 from $469,250 in the same period.
The median price is a point at which half the homes sold for more and half for less. This measure can be swayed by the age, size, quality and location of homes. Maui’s real estate broker trade association includes sales of new homes, which tend to be pricier, in its sale data that can help push up median prices.
Last month, it was apparent that most of the sales decline for single-family homes happened in more affordable parts of the island, Kahului and Wailuku, which would help push up median prices.
HOMES
FEBRUARY SALES MEDIAN PRICE
2019 79 $790,000
2018 98 $684,350
Change -19.4% 15.4%
CONDOS
FEBRUARY SALES MEDIAN PRICE
2019 120 $524,500
2018 124 $469,250
Change -3.2% 11.8%
Source: Realtors Association of Maui
ON THE MOVE
Ocean Blue Hawaii has announced Jason Suapaia is the firm’s new executive director. He has an extensive background in creative development and management, including having been at Pacific Focus where he worked his way up to become a partner in 2007. After the company rebranded to 1013 Integrated Branding + Production, Suapaia served as president and executive producer. In 2016 he was the director of integrated media at the PBS Hawaii Content Department.
DTRIC Insurance Company has announced that Marc Kodani is the new property claims supervisor. He has nearly 16 years of industry experience and was previously the general adjuster at Sedgwick/VeriClaim Inc., where he handled general liability and commercial property claims as well as residential property claims for homeowners. Kodani also served as an auto damage appraiser and senior claims examiner for DTRIC Insurance in 2003.
