Wailuku Real Estate Market Update April 2018
Single Family Homes
Sales prices of Single Family Homes in Wailuku have been mixed. The median sales price through April of this year is up by 5.3 percent at $616,000, but the average sales price dropped through April of this year versus last year from $616,989 to $591,131 a -4.2 percent decline.
New listings have dropped by -20.8 percent year-to-date. Pending sales also dropped by -8.3 percent year-to-date, but closed sales have increased 23.8 percent with 78 closed transaction of single family homes in Wailuku versus 63 for the same period last year. Days on market until sale is down by -12.5 percent with the average home being on the market for 112 days or 3.73 months.
The inventory of homes for sale dropped by -17.1 percent to 58 homes on the market at the end of April versus 70 last year at the same time. The months supply of inventory also dropped by -18.9 percent and stands at 3.0 months.
Condominium prices continue to decline in Wailuku wtih the median sales price dropping -20.2 percent through April of this year versus last year. The median sales price at the end of April was $347,000. The average sales price also declined on a year-over-year comparison by -6.8 percent and stands at $366,028 at the end of April versus $392,745 last year.
New listings have dropped by -4.6 percent along with the inventory of homes for sale which dropped to 18 on-market homes, a -28.0 percent decline when compared to April of last year.
Pending sales are up by 25.0 percent and closed sales are up by 29.3 percent through April with 53 closed sales of condominiums in Wailuku. Corresponding to the drop in new listings and increased pending and closed sales is the drop in months supply of inventory which dropped by -35.0 percent from 2.0 months to 1.3 months.