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There was a surge in single-family home sales on Maui last month, but it didn’t appear to have much impact on median prices, according to statistics released Thursday by the Realtors Association of Maui.
The number of single-family home sales rose 41 percent to 96 in August from 68 in the same month last year. But median price declined 4 percent to $550,000 from $570,000.
The dramatic increase in sales was concentrated in Central Maui, where there were 42 sales last month compared with 21 a year earlier. Central Maui is typically the most active part of the housing market on the island. In August 2013 there were 25 sales in the area.
In Maui’s condominium market, the number of sales edged up 4 percent to 99 in August from 95 a year earlier. The median condo sale price declined 13 percent to $355,000 from $410,000.
Part of the median price drop was due to fewer luxury condos being sold. In Kapalua there were three sales for a median $1.2 million last month compared with six sales for a median $6.1 million a year earlier.
Most condos were sold in Kihei, where there were 37 sales for a median $335,000 last month compared with 30 sales for a median $322,500 a year earlier.
