Median sale prise rises for residences on Maui

Purchases of million-dollar homes helped pump up the median sale price for Maui’s residential real estate market in November even as sales volume slumped, a new report shows.

The Realtors Association of Maui reported Tuesday that the median price for single-family house sales last month rose 12 percent to $522,500 from $465,000 in the same month last year. The number of sales declined 13 percent to 74 from 85 in the same period.

Helping drive the median price gain were four sales in Kaanapali for a median $1.2 million and one sale in Kapa­lua for $2.6 million last month compared with no sales a year earlier in either region.

There were also seven sales for median prices over $1 million last month in three other regions: Maui Meadows, Kula/Ulupala­kua/Kanaio and Spreckels­ville/Paia/Kuau.

A year ago, median prices for those areas were closer to $500,000.

In Maui’s condominium market the median sale price declined 13 percent to $350,000 last month from $400,000 a year earlier. The number of sales slipped 4 percent to 96 from 100.