Median sale prices for Maui homes slipped last month amid fewer sales of single- family houses and more sales of condominiums, data from the Realtors Association of Maui shows.
Single-family homes on the Valley Isle sold for $730,000 in November, down 1% from $740,398 in the same month last year, while sale volume slipped 7% to 71 from 76 in the same period.
For condos the median price declined 6% to $497,550 last month from $528,650 in the same period. There were 140 condo sales last month, up 17% from 120 a year earlier.
Much of the surge in condo sales happened in the Kaanapali area where there were 26 sales for a median $1 million last month. A year earlier there were nine condo sales in the area for a median $1.5 million.
The median is a point at which half the sales were at a higher price and half at a lower price. This measure is affected by the age, size, location and quality of homes.
The Realtors Association of Maui counts both new and previously owned homes in its report.
The number of homes sold on Maui in November with the median price and percentage change from the same month last year: