Overview of 2011 Sales Stats from RAM
February 11, 2011 Aloha all! Attached are the Brief Maui Statistics Overview: Pages 4 - January's Sales Volume January’s Residential Sales declined to 54 homes sold, while Condo Sales declined to 87 units sold. Land sales came in at 9 lots sold.
Page 5 - January's Median
median prices declined to $295,000. Land median price was $300,000.
SALES prices – Home median prices rose again to $495,415 and CondoPage 6 - Days on Market
(General DOM Note: this is the average DOM for the properties that SOLD. If predominantly OLD inventory sells, it can move this indicator upward, and vice versa. RAM's Days on Market are calculated from List Date to Closing Date [not contract date]. As such, it includes approximately 60 days of escrow time.) Also – Short Sales transactions can often take 4-6 months to close thereby extending the marketplace’s average DOM.
for Residential homes = 112 DOM, Condos = 180 DOM, Land = 240 DOM.Pages 10 - 14 – "Year to Date Sales" numbers only compare January 2011 to January 2010.
timeframe (monthly) views do not necessarily reflect the longer timeframe trends. Year to Date: Comparing January 2011 to January 2010
average sold price = $602,978 (-19%), median price = $495,415 (+7%) and total dollar volume sold = $32,560,829 (-9%).
Residential unit sales rose (+13%),Condo unit
(-27%). Total Condo dollar volume sold = $36,830,525 (-7%).
sales increased (+16%), average sold price = $423,339 (-20%), median price = $295,000Land – NOTE: Land Lot sales are such a small sampling that statistics in this property class are not necessarily reliable indicators.
(-25%), median price = $300,000 (-42%), Total dollar volume = $3,319,126 (-43%).
Land lot sales increased (-25%), average sold price = $368,792Also, total sales for immediately past 12 months: Residential = 818, Condo = 1,160, Land = 124.
February 11, 2011 - Active/Pending/Contingent status inventory:
Feb. Jan. Dec. Nov. Oct. Sept. Aug. July June May April Mar. Feb.
Homes 953
963 974 976 1,001 981 994 1,008 1,007 1,040 1,059 1,043 1,040Condos 1,379
1,383 1,371 1,347 1,394 1,455 1,503 1,412 1,423 1,449 1,494 1,567 1,541Land 566
569 601 596 601 620 604 601 591 579 585 568 561Current Absorption Rate base on this month’s Active inventory divided by January Sales is:
Residential = 17.6 months, Condo = 15.9 months, Land = 62.9 months (or 5.24 years).
