POSTED: 12:13 p.m. HST, Feb 10, 2014
LAST UPDATED: 12:46 p.m. HST, Feb 10, 2014
Sales of luxury homes helped bolster results for the housing market of Maui County in January, according to data from the Realtors Association of Maui.
The median price for sales of single-family homes in the county soared to $691,500 last month, representing the highest figure for any month since $769,000 in September 2006 near the peak of the last housing market boom on Maui.
Last month's median price was 26 percent higher than the $550,000 median in January 2013.
The spike was driven largely by sales of luxury homes, including three homes in the Sprecklesville/Paia/Kuau region that sold last month for a median $4 million. A year earlier, there were two sales in the same area for a median $525,000.
The total number of sales rose 2 percent to 64 last month from 63 in the same month last year.
In the condominium market, the median price jumped 47 percent to $437,000 last month from $297,000 a year earlier.
The total number of condo sales soared 48 percent to 93 last month from 63 a year earlier. Most of the gain occurred in the Napili/Kahana/Honokowai area where there were 23 sales for a median $357,500 last month compared with 10 sales for a median $395,000 a year earlier.