Wailuku May 2018 Real Estate Update
Single Family Homes
The Inventory of Single Family Homes for Sale in Wailuku has dropped by -17.6 percent through May 2018 versus the same period last year with only 56 single family homes on market at the end of May in the Maui Multilple Listing Service (MLS). The Months Supply of Inventory also dropped for the same period by -17.1 percent to 2.9 months.
The Average Sales Price of a single family home dropped slightly by -2.8 percent to $606,384 through May of this year versus last, but the Median Sales Price rose by 5.1 percent to $617,000.
New Listings of single family homes in Wailuku have dropped by -11.8 percent through May and Pending Sales are down by -6.8 percent. Closed Sales are up though by 19.2 percent with 93 closed transactions of single family homes in Wailuku versus 78 for the same period last year.
The Average and Median Sales Prices of condominiums in Wailuku have dropped despite the strong real estate activity in the area. The Average Sales Price as of May was down -4.6 percent at $370,380 and the Median Sales Price of a condominium in Wailuku was down -8.6 percent at $378,000.
Inventory of Condominiums for Sale dropped by -26.9 percent during the first five months of the year with 19 active properties on the market at the end of May. The Months Supply of Inventory also dropped by -16.7 percent to 1.5 months.
New Listings have dropped year-to-date through May by -19.1 percent, but pending sales have held consistent with last year. Closed Sales of condominiums have increased by 34.0 percent with 67 closed transaction through May of this year versus 50 for the same period last year.