The average sales price of a single family home in Kihei was up 18.5 percent through October of this year. The average sales price of a Kihei home was $1,112,000 versus $938,270 last year. The gain is most attributable to a lack of inventory with New Listings dropping by -23.6 percent this year and the overall Inventory of Homes for Sale down by -44.9 percent. There were 43 active home listings on the market at the end of October versus 78 last year at the same time.
The condominium market is still very strong in Kihei as the demand for second homes and vacation rentals remains active. The average sales price of a Kihei condominium was $484,805 year-to-date which was a 3.3 percent increase year-over-year. Closed Sales were up 13.5 percent and the Days on Market Until Sale continued to drop -8.5 percent to 129 days. Overall, the Inventory of Condominiums for Sale dropped -36.3 percent at the end of October with 114 active condo listings.
Let me know if you have questions regarding real estate in Kihei. If you are considering selling, Iʻd welcome the opportunity to represent you.