Maui Home Sales UP!
According to the Realtors Association of Maui, Home sales in Maui are at a 17-month high and sales of condos have doubled from last year. The numbers show a positive swing in the real estate movement due to low prices for homes and condos. This looks like the beginning of the end when it comes to real estate problems in Hawaii… for now.
December 2009 home sales on Maui are up by over 60% from December 2008. Sales have increased due to the 16.3% drop in median price from homes as well as the many Maui foreclosures, REO, short sale listings and low interest rates. Another incentive to first-time home buyers is a tax credit for up to $8,000 held until April 30th.
Oahu, The Big Island of Hawaii and Kauai all experienced upward sales in December. Last month’s market activity shows us that buying in Hawaii is attractive. If you’re looking for a first home, 2nd home, or an investment property, it seems that now is a good time to look for Maui real estate.