Wednesday, November 25, 2015         

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Maui home sales and prices were soft in February

By Star-Advertiser staff


February was a fairly soft month for Maui's housing market, as the number of sales declined and median prices stayed close to where they were a year earlier.

The Realtors Association of Maui reported its latest sales data Wednesday showing mainly declines in the market in February compared with the same month last year after strong year-over-year gains in January.

The biggest decline last month occurred in condominium sales volume, which fell 14 percent to 87 units from 101 a year earlier. The median condo sale price slipped 4 percent to $345,000 from $360,000 in the same period.

In the single-family house market, the number of sales declined 9 percent to 60 last month from 66 a year earlier.

February is typically a slow month for home sales, though the volume of sales of single-family houses on Maui last month was the lowest for any February since 59 sales in 2011 when the real estate market was still recovering.

One positive area for Maui's market last month was the single-family house median sale price, which rose 4 percent to $560,000 from $537,500.

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