The prices in real estate in Lahaina, in the Hawaii region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Lahaina has had a strong decrease during the last 6 months. In May, the average price per sq.feet was $2,279. In the following month the price per sq.feet decreased considerably to $1,847. The price for the following two months in (July, August) had a considerable increment of 128 %. The price per sq.feet has had a considerable deflation of 35 % 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 $2,351.75 to $817 during September, and October.
Based upon to the price in Lahaina (cities), this has fallen considerably in the last 6 months. The average price for May is $1,373,937. During June the price had a slight fall till $1,217,805. In the following two months the average price has remained the same with regard to the previous two months from $1,295,871 to $1,270,333.5. During the last two months the average price has had a strong fall compared to the previous four going from $1,283,102.25 to $935,921.5, which means a 73 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $1,021,021 they are 50 % more affordable than the average price for Lahaina. The properties with the highest average price have 4 bedrooms, Their price is 204 % more costly than the average. After that we have properties with 3 bedrooms priced at $1,710,428.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $726 / sq.feet, with an average $787 / sq.feet price in Lahaina. The properties with the highest average prices have 4 bedrooms. They are 31 % more expensive than the average followed by properties with 3 bedrooms with a price at $858 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $1,021,021 it is 90 % cheaper than the average price in Lahaina. "Duplex" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $767,170 it is 175 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of $67 / sq.feet followed by "Duplex" priced at $621 / sq.feet. "House" is the most costly type of property with a $975 / sq.feet cost followed by "Condo" with an average price of $795 / sq.feet.