Higher prices but fewer sales led to a roughly $20 million reduction in residential real estate sold on Maui last month, according to a report released Wednesday.

Home sales totaling about $222 million were made on the island in May, compared with about $242 million in the same month last year, the report from the Realtors Association of Maui said.

The decline was the result of fewer condominium sales.

There were 142 condos sold on Maui last month, down 17% from 172 a year earlier.

The median price for condos was up 10% to $518,500 from $472,500 in the same period.

Sales of single-family houses on Maui rose 18% to 133 in May from 113 a year earlier, while the median price edged up 2% to $705,000 from $690,000.

The report counts sales that closed in May and includes new homes sold by developers and resales. The median price is a point at which half the sales were for a higher price and half for a lower price.

ON THE MOVE

HOME SALES

The number of homes sold on Maui in May with the median price and percentage change from the same month last year:

HOMES

SALES / MEDIAN PRICE

May 2019 133 $705,000

May 2018 113 $690,000

Change 17.7% 2.2%

Condos

SALES / MEDIAN PRICE

May 2019 142 $518,500

May 2018 172 $472,500

Change -17.4% 9.7%

Source: Realtors Association of Maui