Via the Realtors Association of Maui, December 2024, Market Statistics
Information deemed reliable, but not guaranteed.
“December 2024
U.S. existing-home sales improved for the second consecutive month,
rising 4.8% to a seasonally adjusted annual rate of 4.15 million units, an
eight-month high, according to the National Association of REALTORS®
(NAR). Sales were up 6.1% compared to the same time last year, marking
the largest year-over-year increase since June 2021. Economists had
forecast existing-home sales would come in at an annual rate of 4.07 million
units for the month.
New Listings increased 13.4 percent for Single Family homes but
decreased 7.7 percent for Condominium homes. Pending Sales decreased
32.8 percent for Single Family homes and 24.4 percent for Condominium
homes. Inventory increased 63.2 percent for Single Family homes and
105.3 percent for Condominium homes.
Median Sales Price increased 14.5 percent to $1,374,238 for Single Family
homes and 1.2 percent to $860,000 for Condominium homes. Days on
Market increased 34.4 percent for Single Family homes and 18.2 percent
for Condominium homes. Months Supply of Inventory increased 67.6
percent for Single Family homes and 151.0 percent for Condominium
homes.
Total housing inventory stood at 1.33 million units heading into December, a
2.9% decrease from the previous month but a 17.7% increase year-over
year, for a 3.8-month supply at the current sales pace. Inventory remains
below the 5 – 6 months’ supply of a balanced market, and the limited
number of homes for sale continues to put upward pressure on sales prices
nationwide, with NAR reporting a median existing-home price of $406,100,
a 4.7% increase from one year earlier.”
Click on the link below for the full Report on December 2024 Statistics
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