|
| | | Barry's Maui Real Estate Blog
Real Estate in Maui Hawaii | Barry's Maui Market Update
Maui Real Estate Market Trends, May 2008
June 26, 2008 |
Aloha Nui from Maui!
To keep you informed about the real estate market here in Maui, we've attached the Realtors Association of Maui newsletter and sales statistics for January and May. Generally the number of transactions has slowed since 2007, though the actual average sale prices have remained fairly stable. As Terry Tolman, Chief Staff Executive at the Realtors Association of Maui, says in his January letter, "Since the market peaked in summer '05, the monthly numbers have bounced up, down and sideways with a general cooling trend." There have been increases in bank owned and "short" sales, but nothing like some areas on the Mainland.
While every property and escrow is unique, we've noted that in today's market, sellers who price their listings at 5% below the latest sale prices are successful in finding the currently price-oriented buyers. Most of those waiting for top dollar are doing just that, waiting, because there is about 60 months worth of listing inventory out there today. Ironically, many buyers are frustrated when their offers aren't accepted, but that's because they are often 10% (or more) below the latest sale prices. Truth is there are incredible opportunities out there for realistic buyers due to the wide variety and volume of listings, and the savvy seller who knows that it's a great time to move equity from one investment to a better one.
We hope you and yours are having a great year. Feel free to email or call us anytime if we can help you in any way. We appreciate the privilege of serving you and look forward to hearing from you soon.
Sincerely,
Barry and Carol Brown, RE/MAX Maui
808-870-8888/toll free 888-565-1800/email barry@barrybrownmaui.com
Search the Maui MLS on www.barrybrownmaui.com
Current MLS Stats are available for:
January 2008
May 2008
June 2008
Terry Tolman's letters for the months of:
January 2008
May 2008 |
|
| |  |
| | Blogs for August 2008 | | | Archives | |
 |
 |
