July 2021 Market Update

Dated: August 18 2021

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July 2021 Market Update

Maui July 2021 Real Estate Market Report

How's the Market?

The White House recently announced additional measures to help struggling homeowners avoid foreclosure as they exit forbearance, including loan modifications and payment reductions. Borrowers with federally backed mortgages can lock in lower interest rates and extend the length of their mortgages. For borrowers who can’t resume their monthly mortgage, HUD will offer lenders the ability to provide all eligible borrowers with a 25% principal and interest reduction.

New Listings decreased 14.5 percent for Single Family homes and 46.3 percent for Condominium homes. Pending Sales increased 20.4 percent for Single Family homes and 50.5 percent for Condominium homes. Inventory decreased 49.3 percent for Single Family homes and 78.1 percent for Condominium homes.

Median Sales Price increased 34.7 percent to $1,050,000 for Single Family homes and 41.2 percent to $713,000 for Condominium homes. Days on Market decreased 25.0 percent for Single Family homes and 16.6 percent for Condominium homes. Months Supply of Inventory decreased 62.7 percent for Single Family homes and 87.9 percent for Condominium homes.

The National Association of REALTORS® reported inventory of homes for sale nationwide rose slightly in June as more sellers list their homes, hoping to take advantage of record-high sales prices across the country. Even with renewed home seller interest, inventory overall remains 18.8% lower than a year ago, according to NAR.

Click here to view the full 22 page report for July 2021 Year-to-Date. 

Have further questions? 

I love to talk Maui real estate! Contact me at 808-281-4711 or diane@dianebercik.com.

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Diane Bercik

Diane Bercik specializes in residential property sales on Maui. She serves as Broker-in-Charge for Maui Paradise Properties (MPP). Diane has worked on transactions all over the island and has a partic....

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