Median prices rise for Maui homes

Fewer homes were sold in Maui County last month while median prices rose for condominiums and single-family houses, according to a report released Friday.

The biggest change in the market was a 23 percent decrease in the number of single-family homes sold, according to the report from the Realtors Association of Maui. There were 82 sales in October, down from 106 in the same month last year.

The median price for October single-family home sales was $632,500. That represented a 7 percent increase from $592,000 a year earlier.

Some of the median-price increase appeared to be from more million-dollar homes sold. For example, in the Kaanapali area, three homes sold for a median price of $1.8 million while a year ago two homes sold for a median of $1.4 million.

In Maui County’s condo market, the number of sales slid 8 percent to 97 last month from 105 a year earlier. The median price rose 17 percent to $460,000 from $392,900.

At the upper end of Maui’s condo market in the Wailea/Makena area, there were 12 sales for a median $1.1 million last month compared with eight sales for a median $725,000 a year earlier. At the lower end of the market, there were two sales on Molokai for a median $177,500 last month compared with one sale for $82,000 a year earlier.