With historical low interest rates and a great inventory, real estate sales are showing signs of growth on the Valley Isle. Comparing January-August 2011 to January-August 2010, here are the latest figures published by Realtors Association of Maui – www.RAMaui.com:
Residential unit sales rose by 6% with an average sold” price up +5% at $792,210 and a total dollar volume up + 11% at $268,988,206.
Condo unit sales also registered a growth of +1% with an average sale price of $516,537, representing a -28% decline compared to last year.
The current absorption rate based on this month’s “Active” inventory divided by the number of August sales is: Residential: 10.4 months, Condo: 13 months. [Read more...]