October 2021 Market Update

Dated: November 10 2021

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How's the Market?

The U.S. housing market remains robust, with strong activity reported across both rental and residential housing fronts. Single-family rent prices are increasing rapidly, as demand for single-family housing and inventory constraints forces some buyers to rent, increasing competition and pushing rents up across the nation. Meanwhile, sales of new construction single-family homes recently hit a six-month high, rising 14% to a seasonally adjusted rate of 800,000, according to the latest data from the U.S. Department of Housing and Urban Development.

Below are some highlights for the month of October on Maui:

  • New Listings down 13.2% for Homes, 8.2% for Condos
  • Pending Sales up 11.7% for Homes, 17.8% for Condos
  • Inventory down 48.6% for Homes, 81.5% for Condos
  • Median Sales Price up 7.5% to $932,500 for Homes, 13.2% to $672,500 for Condos
  • Days on Market down 25.4% for Homes, 37.6% for Condos
  • Months Supply of Inventory down 61.9% for Homes, 90.7% for Condos

As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates, and a slight uptick in new listings in recent months, according to the National Association of REALTORS®. With interest rates inching upward, and experts expecting further rate increases on the horizon, motivated buyers are hoping to lock in their home purchases to take advantage of what are still historically low rates.

Click here to view the full 22-page report for September 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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