March 2018 Lahaina Real Estate Market Update
Single Family Homes
Sales of single family homes in Lahaina are up by 60.0 percent through March 2018 year-to-date with 16 closed home sales versus 10 last year year for the same period. New Listings are down by -7.1 percent and Pending Sales are also down by -17.6 percent. The Days on Market Until Sale increased 51.3 percent from 113 days in March 2017 versus 171 days through March this year. This is an almost 2 months increase in the time it is taking for single family homes in Lahaina to sell.
Both Average and Median Sales Prices have gone up on a year-to-date basis. The Average Sales Price is now at $2,305,994, a 58.6 percent increase. The Median Sales Price is up 21.6 percent at $1,109,000.
Inventory of Homes for Sale is down by -37.0 percent with 29 homes on the market in Lahaina at the end of March. The Months Supply of Inventory stands at 4.8 months which is a -46.1 percent drop.
Real Estate activity for condominiums is down overall in Lahaina. Closed Sales are off by -40.0 percent through March 2018 on a year-to-date basis. Pending Sales are also down by -30.8 percent and New Listings have increased 30.4 percent.
The Average Sales Price of a condominium is down -14.0 percent year-to-date through March wtih the average price at $451,308. The Median Sales Price is down by -6.5 percent with the Median at $435,000.