December 2025 Market Report for Maui

Jan 18

U.S. existing home sales ticked up 0.5% from the previous month to a seasonally adjusted annual rate of 4.13 million, marking the third consecutive monthly increase, according to the National Association of REALTORS® (NAR). However, sales were down 1.0% from the same period last year.

Regionally, sales rose month-over-month in the Northeast and South, were unchanged in the West, and declined in the Midwest. On a year-over-year basis, sales were flat in the Northeast and South and fell in both the Midwest and West.

Maui Real Estate Market Highlights

As 2025 comes to a close, data from the REALTORS® Association of Maui, Inc. (RAM) reveals notable market dynamics that defined the year's final month.

New Listings and Pending Sales

Single Family Homes:
- New listings decreased 3.1%, suggesting a cautious approach from sellers as the year concluded.
- Pending sales surged 48.8%, indicating strong year-end buyer activity and confidence heading into 2026.
Condominiums:
- New listings declined 13.5%, continuing the supply constraints in this segment.
- Pending sales remained flat at 0.0%, showing stagnation compared to the robust single-family market.

Inventory Trends

Inventory increased 14.5% for Single Family homes and 18.4% for Condos compared to last year.
The Months Supply of Inventory (MSI) rose significantly:
- +23.1% for Single Family homes
- +29.5% for Condos
While inventory levels remain elevated compared to previous years, they indicate a continuing shift toward more balanced market conditions rather than the extreme seller's market of the past.

Pricing Shifts

Median Sales Price:
- Single Family homes declined 2.0% to $1,340,000.
- Condos saw a substantial 25.6% decline to $640,000, reflecting affordability pressures and a shift in the mix of units sold toward lower-priced properties.

Days on Market

Single Family homes: +1.6%, indicating relatively stable absorption despite increased inventory.
Condominiums: +38.5%, showing a significant slowdown as buyers became more selective in this segment.

National Context: Moderate Growth with Persistent Supply Constraints

Nationally, the housing market showed resilience with three consecutive months of sales increases. Key national indicators heading into December include:

National Median Existing-Home Price: $409,200 (+1.2% year-over-year), marking the 29th consecutive monthly gain.
National Inventory: 1.43 million units available, down 5.9% from the previous month but up 7.5% from last year.
Months Supply: 4.2 months at the current sales pace.

The national market continues to reflect supply constraints that are supporting price appreciation, though at a more moderate pace than in previous years.

What This Means for Buyers and Sellers in Maui

For Buyers: The dramatic 48.8% surge in pending single-family sales suggests strong year-end demand, but increasing inventory provides more options. The significant condo price decline presents potential opportunities, though the 38.5% increase in days on market indicates these properties require more careful evaluation.
For Sellers: Single-family homes continue to attract strong buyer interest, with pending sales nearly 50% higher than last year. However, with inventory up and homes taking slightly longer to sell, competitive pricing and strong presentation remain essential. Condo sellers face a more challenging market with declining prices and extended marketing periods.
For Investors: The divergence between property types is striking. Single-family homes demonstrate stronger fundamentals with robust pending sales, while condos present a value play with substantially reduced prices. The extended days on market for condos allows for more thorough due diligence and negotiation opportunities.

Final Takeaway

December 2025 closed out the year with a tale of two markets on Maui. Single-family homes demonstrated resilience with surging buyer activity, while the condominium market continued to adjust with significant price corrections and slower absorption. The national housing market's consecutive monthly gains and persistent supply constraints provide a supportive backdrop, though Maui's unique dynamics reflect its own supply-demand balance.

As we enter 2026, the elevated inventory levels and increased months supply suggest buyers have regained negotiating leverage after years of limited options. Sellers who price strategically and present their properties effectively will continue to find success, but the days of instant offers and bidding wars appear to be behind us.

Click Here for the Full Report

Guest User