Maui housing market remains stable in May; median still nearly $1.3M : Maui Now

In May 2024, Maui’s housing market exhibited stability in single-family home sales while showing moderate increases in median prices, according to the latest figures from the Realtors Association of Maui (RAM). The median sales price for single-family homes rose by 2% compared to May of the previous year, reaching $1,297,500 with the 2024 year-to-date median listed at $1,300,000 for Maui. Compared to last month, the median home price was $1,303,692 in March of 2024. Condominium sales experienced a decrease of 16.5%, yet the median price increased by 1.3% to $865,000, reflecting the ongoing demand and value in the market.

The analysis conducted by the Association using data collected from its Multiple Listing Service (MLS) system shows the following statistics:

*Median price means half the prices were above and half below the given price.

The number of new listings for single-family homes decreased by 4.3% compared to the previous year, while new listings for condos rose significantly by 101.9%. Additionally, the median days on the market for both single-family homes and condominiums was 108 days. 

“Maui’s real estate market has shown resilience with consistent sales figures, coupled with a slight uptick in median prices for both single-family homes and condominiums in May,” remarked RAM President Steve Baker. “These trends reflect the continued demand for residential properties on the island.”

The public is encouraged to visit https://www.ramaui.com/ to see what’s happening in the Maui County housing market. Consumers have the ability to browse single-family home and condominium listings available for sale on Maui, Molokai and Lanai, and to see a comprehensive list of Open Houses. Searches can be done by geographic location, residential type and/or price range, with useful information about buying and selling real estate in Hawaiʻi.