Maui Hawaii Luxury Market Report Feb 2021

M AU I H AWA I I –February 2021–

www.LuxuryHomeMarketing.com

MAUI

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | JANUARY 2021 Inventory

Sales

Luxury Benchmark Price 1: $1,422,000 $7,000,000+ $6,000,000 - $6,999,999 $5,000,000 - $5,999,999

$4,500,000 - $4,999,999 $4,000,000 - $4,499,999

11

Total Sales: 28 Seller's Market

9

0

Total Sales Ratio2: 22%

4

0

9

1

6

1

$2,500,000 - $2,999,999

19

3

$2,000,000 - $2,499,999

16

3 3 3

$1,900,000 - $1,999,999 $1,800,000 - $1,899,999

3

1

2 2

$1,700,000 - $1,799,999

4

0 2

$1,500,000 - $1,599,999

1

Total Inventory: 129

0

$3,000,000 - $3,499,999

$1,422,000 - $1,499,999

6

2

$3,500,000 - $3,999,999

$1,600,000 - $1,699,999

35

4

0

4 4

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,999

$1,595,000

3

3

5

23

22%

2,000 - 2,999

$1,700,000

4

3

8

29

28%

3,000 - 3,999

$2,325,000

5

4

6

29

21%

4,000 - 4,999

$3,600,000

4

5

5

15

33%

5,000 - 5,999

$8,274,500

5

6

2

15

13%

6,000+

$8,650,000

5

7

2

18

11%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

MAUI

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

Inventory

Solds

$2,750,000 $2,450,000 $2,100,000

$2,311,200

$2,275,000 $1,820,000

219

213

181

$1,999,999

$1,825,000

180

172

168

$1,995,000

173

173

164

$2,262,500

$2,025,000

182

173

9

15

13

11

9

9

21

15

Feb-20

Mar-20

Apr-20

May-20

Jun-20

Jul-20

Aug-20

Sep-20

11 Jan-20

$1,990,000

20 Oct-20

$2,112,000

157

129

26

27

Nov-20

Dec-20

28 Jan-21

MEDIAN DATA INVENTORY December

January

157

129 VARIANCE: -18 % SALE PRICE PER SQFT. December

$

January

854

845 VARIANCE: -1 % $

SOLDS December

January

27

28 VARIANCE: 4 %

SALE TO LIST PRICE RATIO December

January

97.30%

96.31% VARIANCE: -1 %

SALES PRICE December

$

2.75m

January

2.11m VARIANCE: -23 % $

DAYS ON MARKET December

January

74

115 VARIANCE: 55 %

MAUI MARKET SUMMARY | JANUARY 2021 • The Maui single-family luxury market is a Seller's Market with a 22% Sales Ratio.

• Homes sold for a median of 96.31% of list price in January 2021.

• The most active price band is $1,500,000-$1,599,999, where the sales ratio is 200%.

• The median luxury sales price for single-family homes has decreased to $2,112,000.

• The median days on market for January 2021 was 115 days, up from 74 in December 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

MAUI

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | JANUARY 2021 Inventory

Sales

Luxury Benchmark Price 1: $1,183,200 $4,000,000+ $3,000,000 - $3,999,999

11

1

$2,500,000 - $2,999,999

$1,800,000 - $1,899,999

Total Sales Ratio2: 13%

1 8

7

1

$1,600,000 - $1,699,999

3

$1,500,000 - $1,599,999

$1,400,000 - $1,449,999 $1,350,000 - $1,399,999

2

$1,183,200 - $1,249,999

1

3

1

8

0

$1,300,000 - $1,349,999

$1,250,000 - $1,299,999

6

3

0 0

Buyer's Market

12

1

$1,700,000 - $1,799,999

$1,450,000 - $1,499,999

Total Sales: 15

1 0

Total Inventory: 115

8

2

$2,000,000 - $2,499,999 $1,900,000 - $1,999,999

21

2

8

1 7

0

12

0

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 999

$1,565,000

2

2

1

14

7%

1,000 - 1,499

$1,650,000

2

2

4

43

9%

1,500 - 1,999

$1,727,500

3

3

6

25

24%

2,000 - 2,499

$2,750,000

3

3

3

13

23%

2,500 - 2,999

$6,400,000

3

5

1

15

7%

3,000+

NA

NA

NA

0

5

0%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

MAUI

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$2,275,000

Inventory

$2,207,250

$1,425,000

146

$1,495,000

141

127

24

21

9

8

Feb-20

Mar-20

Apr-20

May-20

Jun-20

Jul-20

174 115

31

15

176

172

151

147

136

117

116

$1,800,000 $1,500,000

$1,475,000

13

17 Jan-20

$1,900,000

$1,445,000

140

$2,370,000

$2,205,000

$2,120,000

$1,980,000

Solds

Aug-20

9 Sep-20

37

21

20 Oct-20

Nov-20

15

Dec-20

Jan-21

MEDIAN DATA INVENTORY December

January

174

SOLDS December

January

115 VARIANCE: -34 %

15 VARIANCE: -59 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

December

January

952

1,216 VARIANCE: 28 %

$

$

37

December

January

100.00% 97.03% VARIANCE: -3 %

SALES PRICE December

$

1.50m

January

1.80m VARIANCE: 20 % $

DAYS ON MARKET December

119

119 VARIANCE: 0 %

MAUI MARKET SUMMARY | JANUARY 2021 • The Maui attached luxury market is a Buyer's Market with a 13% Sales Ratio.

• Homes sold for a median of 97.03% of list price in January 2021.

• The most active price band is $1,500,000-$1,599,999, where the sales ratio is 67%.

• The median luxury sales price for attached homes has increased to $1,800,000.

• The median days on market for January 2021 was 119 days, remaining the same from December 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

January