RAM Report July 2016 Land Sales Comment

RAM Report July 2016 Land Sales Comment

From the July 2016 Realtors Association of Maui (RAM) report by Terry Tolman…

“Days on Market, Residential homes = 113, Condos = 154 DOM, Land = 85 DOM.

(General DOM Note: this is the average DOM for the properties that SOLD.  If predominantly OLD inventory sells,

it will move this indicator upward, and vice versa.  RAM’s Days on Market are calculated from List Date to Closing

Date [not contract date], including approximately 60 days of escrow time.)”

It’s surprising that “Days on Market” for Land Sales is shorter than for condos & home sales.

Although, as the author points out, it’s a small sample, it’s still a good sign for land sales in our view.

RAM real estate analysis on land sales