Aina Nalu News
Presented by Aloha Group Maui
Issue 68, Q3 - 2022
Aloha from your resident experts!
This second quarter brought the end of summer and the start of a new school year and with it, a bit of a quieter island. This quarter also brought the first whale of the season! Experts say it's early, but not too early, so we'll take it. There haven't been any spotted since, but we're hoping the whale inventory will be higher than what the real estate inventory is looking like for the next quarter.
Of the 4 units sold in this quarter, 2 were sold before listed, and 2 were sold at a record price. There are currently no units active or pending.
Here is a comparison of what happened in Q3 2021 vs. Q3 2022:
Unit sold in this same quarter in 2021 ranged from $565,000 to $680,500. Two of these units were 2 bed, 2 bath units, two upstairs, downstairs, and they sold for $640,000 and $690,500. That is a price difference of up to $210,000 in just one year!
There hasn't been a unit listed in Aina Nalu since July 1 (the two listed on 8/29 were already sold before listed) and we're seeing low inventory all over the island, not just Aina Nalu. It continues to be a seller's market; there are less than 2 months of condos for sale currently on Maui. Prices are still appreciating, but at a much slower rate.
From July 1 to September 30 there were 4 listings and 4 closed sales. There were 0 cancelled listings, and 0 expired listings at the end of the quarter. There were 0 active listings and 0 pending sales at the end of the quarter.
For more details on current Maui real estate prices and sales, go to the Maui Real Estate Advisor for all the stats.