Lahaina Real Estate Market Update for September 2017
Pending sales of condominiums in Lahaina have gone up 30.4% through September of this year. It has been a strong year for condo sales on the Westside for sure as we head into the 4th quarter. Closed sales are up through September by almost 7% with a drop in new listings of 8.3% for condominiums. The average days on market declined 28.3% with the average days on market for condominiums now at 99 days or 3.3 months.
The median price of a condominium in Lahaina now stands at $482,500 which is a .4% increase versus last year for the same period. The average has moved up 5% from $488,368 last September to $512,585 this year.
The median price of a single family home is up 72.6% this year versus last at $1,334,500. The average however, is up 22% at $1,684,676 this year versus $1,381,114 last year through September.
Overall, closed sales of single family homes is down year-to-date 9.1%, but recent strong activity has pending sales up 15.1%. The average days on market now stands at 164 days (5.4 months) which is a drop of 6.3% versus this time last year when the average days on market for a single family home was 175 days or 5.8 months.
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