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The Honolulu Advertiser

Posted at 12:50 p.m., Monday, December 11, 2006

Maui home sales rise last month, but median price falls

By Andrew Gomes
Advertiser Staff Writer

Maui's single-family home sales rose in November for the first time in 14 months, but the median price fell to nearly a two-year low.

There were 109 sales of previously owned single-family homes last month, up 27 percent from 86 a year earlier. It was the first time since September 2005 that sales were up for one month over the same month a year earlier.

The median sale price fell 18 percent to $598,795 last month compared with $734,500 a year earlier.

Last month's median price was the lowest since $575,000 in February 2005, and was a dramatic shift in what has been mostly higher prices this year.

Maui's median single-family home sale price has risen in seven of the first 10 months of this year, mostly by double-digits. Of the decreases, the largest was 7 percent in May.

For condominiums, Maui's resale market followed what has been the general trend of fewer sales but at higher median prices.

There were 66 condo sales last month, down 55 percent from 147 sales a year earlier. The median price was $515,000, up 10 percent from $469,000.

Reach Andrew Gomes at agomes@honoluluadvertiser.com or 525-8065.