Market Conditions - August 2, 2006 by Carla L. Davis
Maui, Hawaii, saw a decline in sales activity during the first half of this year. Experts are reporting that it slowed by as much as 27 percent. This is a considerable drop for any market and has caused a slowing in price appreciation as well. The average sales price increased just 1 percent -- though that brings the average to over $1 million notes one local expert. While the slowdown comes as no surprise to most buyers and investors -- after so much bubble talk in mid 2005 -- the slowing figures are still hard to swallow for an area that was seeing as much as a 21.4 annual increase in prices. The condominium market seems to be thriving, however. As one expert reports, "Unit sales of Maui condominiums declined 27 percent for the first six months of 2006, [but] average sale price increased 53 percent to $781,829." As inventory continues to grow in single family and condominium markets, the market will continue to slow and return to a balance between seller and buyer favor. | 
