The rent prices in real estate in Lahaina, in the Hawaii region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in Lahaina has had a strong fall during the last 6 months. In July, the average price per sq.feet was $25.89. In the following month the price per sq.feet fell considerably to $3.12. The price for the following two months in (September, October) had a considerable fall of 23 with regard to the previous two months. The price per sq.feet has had a considerable fall of 39 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $8.91 to $3.48 during November, and December.
When referring to the price in Lahaina (cities), there have hardly been any changes in the last 6 months. The rent price in July is $3,796, rising in August till $4,106. During the following two months (September, October) the average price had a considerable rise of 120 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from $4,353.75 to $2,822, which means a 65 % fall.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of $4,525 they are 58 % more affordable than the average price for Lahaina . The properties with the highest average price have 4 bedrooms, Their price is 108 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,992.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most expensive ones at a cost of $8 / sq.feet, with an average $3.45 / sq.feet price in Lahaina. The properties with the most expensive average prices have 3 bedrooms. They are 943 % more expensive than the average followed by properties with 2 bedrooms with a price at $26 / sq.feet.
The graph displaying the average rent prices displays the property type "Land" as the most affordable one. At an cost of $4,525 it is 46 % more affordable than the average price in Lahaina. "Condo" is seen as the second most affordable property type. The most affordable property is "House" followed by "". At a price of $2,745 it is 18 % more affordable than the average price.
According to the average cost per sq.feet, the least affordable property would be "Land" at an average price of $26 / sq.feet followed by "Condo" priced at $31 / sq.feet. "House" is the most expensive type of property with a $35 / sq.feet value followed by "Condo" with an average price of $31 / sq.feet.