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.
It is obviously still very much a buyer’s market and with the additional foreclosure/short sales being added to the inventory, I see a continuing decrease in value until these properties are flushed from the inventory.
All in all, it’s a great time to buy. Make sure you get pre-approved with local lenders before you start shopping. Lenders requirements have changed over the past years BUT if you are credit worthy, you CAN get a loan… and again, the interest rates are in your favor! Contact Denis Fuster R(B) at dfuster@hawaiiantel.net or 808-640-5381. You can access additional information at http://www.ramaui.com/UserFiles/File/Stats/All-August2011.pdf
This post was written by
denisfuster – who has written 2 posts on Hawaiian Life and Real Estate Blogs by Aloha Coast Realty.
Denis is an international Realtor, Broker in Charge and one of the owners of Aloha Coast Realty. He just relocated to Kihei, Maui to create Aloha Coast Realty Maui branch office, and also to support our growing vacation rental business in the Valley Isle. A Hawaii resident since 2001 and investor himself on the Big Island, Denis is a full-time member of the National Association of Realtors (NAR), Realtor Association of Maui (RAM), Hawaii Association of Realtors (HAR) and Hawaii Island Board of Realtors (HIBR). His Transnational Referral Certification (TRC), allows him to not only market his listings internationally but also to conduct business worldwide on a referral basis. Furthermore, his Eco-Broker designation allows him to assist buyers who are interested in "green" real estate. Denis is known for his strategic thinking, attention to detail and dedication to meeting the needs of real estate buyers and sellers from around the world. Prior to his career change in 2001, Denis was a highly successful international executive in the Information Technology industry for 15 years. He started and rapidly developed software companies in France, Germany, the U.S. and Canada. An MBA with a double major in English and German, Denis is able to flawlessly perform high-level business transactions in three languages (English, French and German) and easily relate to multiple cultures. A native of Lyon, France, Denis relocated to Hawaii after 10 years in the Bay Area to settle in a beautiful place called Hawaii, to enjoy its culture, nature and diversity. A gourmet home chef, Denis enjoys social events, tennis, networking, swimming and taking long hikes by the Ocean!
