The leading market of Maui has seen a great year in 2024, where top properties sold for 26% more than in 2023. The average Days On Market (DOM) for the top sales in Maui was steady, at 301 in 2023 and 339 in 2024. Although sale prices have increased YOY, the market has seen a drop in sales price compared to the list price, which decreased by 12%, from nearly 92% in 2023 to only 80% in 2024, the lowest in seven years, since 2017.
For top sales that took longer than 180 days, DOM jumped to 545 days, with list prices 31% higher than sales prices in 2024
Maui comes in No. 2 as the highest-priced market in Hawaii in 2024
Properties are listed nearly 20% higher than sales prices in 2024
A market slowdown
The sales price averages follow a very similar trend to the region. The entire Hawaii region saw a 15% increase in sales price from 2023 to 2024. Yet, Maui, in general, is ahead of the trend, where average sales were 4% higher than the regional average in 2023 and 14% higher in 2024. The region appears slow, as Hawaii saw an average DOM of 519 in 2023 and 336 in 2024. For the 66% of properties that took longer than 180 days to sell, this jumped to 545 days, selling for just 69% of list price. This is high compared to the US market, which sat at 315 DOM in 2023 and 319 DOM in 2024.
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