Median price of condos up 10% on Maui in April

Prices and sale volume for condominiums sold on Maui in April made significant movements while the market for single-family houses on the Valley Isle was close to flat, according to a report published Wednesday.

The biggest change was in the median sale price for Maui condos, which rose 10 percent to $490,563 last month from $444,500 a year earlier, according to the report from the Realtors Association of Maui.

A significant factor in the increase appeared to be fewer sales in parts of the island with less pricey homes, including Pukalani, Maalaea, Kihei and Lahaina, and on Molokai (part of Maui County counted in the association’s sales data).

The median price is a point at which half the sales were for more and half for less.

Overall, there were 116 Maui condo sales in April, down 8 percent from 126 sales a year earlier.

Single-family homes on Maui sold for a median $671,000 last month, up 1 percent from $665,000 a year earlier. There were 97 sales in April, down 3 percent from 100 a year earlier.

Terry Tolman, chief executive of the trade association, said in the report that April’s single-family home median sale price returned to a “more normal” figure a month after it hit $756,000, which was the highest for any month since September 2006.