Bank Owned Properties on Maui

In yesterday’s newsletter we talked about the decrease in the median price of Maui condo sales from January 2010 to January 2011.

The median sold price of Maui condos in January 2010 was $404,000. Just this past month, in January 2011, that number dropped to $295,000. This drop in the median price of Maui condos can be attributed to the increase in bank owned sales. In January 2010, there were 8 bank owned condos on Maui that sold. One year later, in January 2011, that number increased to 24.

We have a new bank owned listing that we’ll be listing soon at Kihei Akahi. This is a nice 1 bedroom, 1 bath unit with ocean views from the lanai. Kihei Akahi can be used for short term vacation rentals. More about this Maui bank owned condo to come.

If you are interested in bank owned homes or condos on Maui, Here’s a complete list of all the Bank Owned inventory available as of February 8, 2011.

Photo Attribution