Condo Inventory and Sales Way Up
August was a great month for the recovery of the condo market on Maui with some corrections happening in both sales and inventory. For years the Maui condo market has had low inventory and steadily been in a seller's market given the high demand and decrease in construction, especially of short term rentable condos. August saw a 97.4% increase in months supply of inventory and a total increase of 53.9% in total units on the market versus August of 2019. Closed sales were still down 7.7% versus 2019 but that's a huge improvement over the last few months without visitors on Maui to see these units in person.
262 new condo listings in August almost doubled the 133 new listings last August. Notably, the…
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