The Maui real estate market continues to be affected by distressed property inventory keeping downward pressure on prices. The majority of distressed properties are in the $0-$800k price range with 65% of the distressed market inventory. Prices at the high end have fewer distressed sales and remain stable after coming down off of 2007 highs by about 30%. Local economist Paul Brewbaker believes prices have reached their bottom on Maui although inventory still remains high with distressed properties there are fewer permits being applied for and no new projects in the Maui real estate pipeline. Once the distressed inventory is cleared out there will be upward pressure on prices. Although a slow recovery is expected now is the time to buy while prices remain reasonable and choices are abundant.
To preview distressed property Inventory on Maui or other homes for sale visit: Search Maui MLS
