Maui housing prices rose last year to a record for single-­family homes but still lagged a more than decade-­old high for condominiums despite a double-digit rise.

Single-family homes on the Valley Isle sold for a median $710,000 last year, up 2.2 percent from $695,000 the year before, according to data from the Realtors Association of Maui published this week.

Last year was the second consecutive year in which a record median price was set after a decade of sliding and recovery since 2006 when the median price hit $690,000.

For Maui condos the median sale price last year jumped 12.4 percent to $500,000 from $445,000 the year before. Still, last year’s figure was short of a record set in 2007 at $550,000.

The median price is a point at which half the sales were at a higher price and half at a lower price.

Median prices for 2018 were close to figures for December. Last month, single-­family homes on Maui sold for a median $708,750, up 3.4 percent from $685,500 in the same month the year before. The condo median sale price in December was $493,500, up 14.1 percent from $432,500 a year earlier.

The trade association of real estate agents on Maui said high demand for relatively few homes for sale drove the price increases last year and that inventory looks as though it will improve this year.

“This may apply some downward pressure on prices for beleaguered home buyers,” the association said in its report.

The number of sales last year edged up 3.3 percent to 1,137 for single-family homes compared with 1,101 sales the year before. The number of condo sales surged 13.8 percent to 1,654 from 1,453 in the same period. Peak volume was 2,050 condos in 2005 and 1,420 single-family homes in 2003.

In December the number of single-family home sales edged up 4.4 percent to 94 from 90 a year earlier; the number of condo sales dropped 14.3 percent to 120 from 140 in the same period.

HOME SALES

The number of homes sold on Maui in 2018 with the median price and percentage change from a year ago.

HOMES

SALES / MEDIAN PRICE

2018 1,137 $710,000

2017 1,101 $695,000

Change 3.3% 2.2%

CONDOS

SALES / MEDIAN PRICE

2018 1,654 $500,000

2017 1,453 $445,000

Change 13.8% 12.4%

Source: Realtors Association of Maui