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The latest Maui real estate statistics are out and the outlook could be better.

According to the latest report from the Realtors Association of Maui, the housing market experienced “mixed trends” in December, seeing a decrease in single-family home sales that were offset by a “significant rise” in median prices.

The median sales price for a single-family home increased by 14.5% compared to the same time the year prior, reaching $1,374,238. At the same time, condominium sales dropped by 43.6% with the median sales prices increasing by about 1.2% to $860,000.

Michelle Del Rosario of Maui & Co. Real Estate said she looked at the pending sales on Monday and saw they were at 193.

“It’s going down, not up, by about 50 units,” she said.

She said there are a variety of issues contributing to the disruption of the market — from people choosing to leave Maui and Hawaii altogether to employers not paying high enough wages, Del Rosario said now is the time to help Maui’s economy.

“People need jobs that they can qualify for a mortgage,” she said. “We need a stronger economy so that families have the ability to save, have reasonable rent, save money, and be able to buy a home.”

She also said people aren’t buying as quickly, the days on the market are longer and more affordable housing is needed.

“The more affordable or workforce housing that’s built, the more opportunities there will be,” she said.

According to the latest statistics, overall in December the number of sales for single-family homes was at 56, down one from the previous year. The number of condominium resales was 53, down from 93 in December 2023.

The number of new listings for single-family homes increased by 13.4% compared to the previous year, while new listings for condos decreased by 7.7%. Additionally, the median days on the market for both single-family homes and condominiums was 123 days.

RAM President Lynette Pendergast said in a news release that the data show the potential and challenges facing the current market.

“As we enter 2025, it’s essential to focus on creating a sustainable housing market that supports Maui’s residents and adapts to the island’s evolving needs,” she said.

Pendergast also said the homes that are on the market longer reflect a real estate market that is “adjusting to evolving economic conditions and buyer priorities.”

“To ensure a healthy and sustainable housing market for the future, we must focus on increasing inventory, addressing affordability and supporting smart growth initiatives that align with Maui’s unique character,” she said. “By fostering collaboration among developers, policymakers and the community, we can create opportunities that benefit both current residents and future generations while maintaining the balance that makes Maui such a special place to call home.”

For more information, visit RAMaui.com.