Aloha from Maui....
Thankfully hurricane Douglas finally passed the Hawaiian Islands to the North Monday with no damage to Maui or neighboring islands. Things in the islands are also ever-changing with Covid-19. As much as we want to welcome you back with open arms we have to wait a little longer until we can see you on island again.
Governor Ige announced that he will delay the launch of the pre-travel testing program for incoming travelers to Hawaii. The program is now scheduled to begin on Sept. 1st, 2020. This extension means that the mandatory 14-day traveler quarantine remains in effect through Sept.1st for those traveling to Hawaii from out of state.
To date, the state of Hawaii has reported the lowest number of COVID cases in the country, and travel restrictions along with early social distancing measures have played a significant role in that success. Gov. Ige shared in his press conference that the decision to extend the travel quarantine was not made lightly. We have always said that we will make decisions based on the health and safety of our community as the highest priority, Ige said. If you are planning to travel to Hawaii prior to Sept. 1st, the State of Hawaii created the Safe Travels Website to help you prepare for your trip and expedite your exit from the airport.
We are looking forward to welcoming you back to the islands.
Many people who have been on the fence about making a purchase on Maui have decided to take the leap. We are seeing more and more buyers buy properties.
If you have been considering buying or selling, NOW could be your time. We are doing more FaceTime/Zoom showings and would love to help you find your piece of Maui paradise. We can set you up on personalized searches so you will only see properties that interest you the most. Don't wait and call us today. We are here to help you from beginning to end. Whether you are a first-time home buyer or more experienced let us help you identify the desired location, negotiate the best price and walk you thru the entire escrow process and beyond. We love what we do and we would love to welcome you to Maui. If you are wanting to sell a property call us and let us give you a market analysis of your property. Let's get the most for your Maui property.
Maui June 2020 Statistics- From the Realtors Association of Maui
In June new listings increased 3.2 percent for Single Family homes and 18.4 percent for Condominium homes. Pending Sales increased 22.5 percent for Single Family homes but decreased 23.8 percent for Condominium homes. Inventory decreased 15.5 percent for Single Family homes but increased 15.9 percent for Condominium homes.
Median Sales Price increased 1.5 percent to $761,500 for Single Family homes but decreased 9.2 percent to $503,000 for Condominium homes. Days on Market increased 28.2 percent for Single Family homes and 15.5 percent for Condominium homes. Months' Supply of Inventory decreased 7.8 percent for Single Family homes but increased 37.5 percent for Condominium homes.
While buyer activity continues to be robust, seller activity continues to be a bit softer, with fewer homes being listed for sale than a year ago. Many housing experts believe sellers remain reluctant to list their homes due to continued concerns over COVID-19, which was beginning to see a resurgence in June. Until sellers regain confidence, housing inventory will continue to be constrained during what is expected to be an active summer selling season.
In comparison to mid-year 2019, the number of residential sales are down 15.6% and condominium sales are down 22.3%. This is not surprising as May and June were expected to be the worst month for the impact of Coronavirus. On a positive note, the average residential sale price is up 4.6% and the condominium average sale price was up 8.7%.
This positive pricing trend has been consistent every month this year and the key driver has been low available inventory.