The South Maui real estate market rebounded significantly toward the end of 2009. From the beginning of 2009 to the beginning of 2010, South Maui active inventory levels fell by nearly 1/3 and the number of new sales contracts per month tripled! This rebound has been considerably faster than the market comeback from the 1994 slump when active inventory was even higher than 2009.

Kihei single family homes led the rebound with inventory levels dropping by 44%. Kihei Condos, Wailea single family homes and Wailea condos also had significant inventory reductions of 33%, 19% and 17% respectively.

Selling prices had certainly not yet returned to market highs, but the reduction in inventory and increase in sales have begun to affect prices in all South Maui market segments. Of course we cannot predict future market trends, but if the present trend continues, we will see much less inventory to select from and increasing prices to deal with. The present Buyer’s market may be turning back to a Seller’s market once again.

So when will be the best time to buy or sell property in South Maui? There is, of course, no way to reply to that question with one answer to fit all situations. Only you can answer for your own particular circumstances.

If you decide to buy (or sell) real estate on Maui, we would love to be your guide!