About 40 percent fewer single-family homes and condominiums sold on Maui last month, and prices were generally lower compared with the same month last year, according to the Realtors Association of Maui.

There were 56 sales of previously owned single-family homes in May, down 42 percent from 97 a year earlier. The median price was $487,500, down 14 percent from $567,000.

Condominium resales were down 44 percent to 47 in May from 84 a year earlier. The median price was $315,500, down 38 percent from $512,500.

Though real estate values in general have weakened along with the economic downturn that has spurred layoffs, wage cuts and foreclosures, a significant part of the decline in median prices has been due to the mix of homes sold.

The median is a point at which half the sales were for more and half for less.

In Maui's condo market for instance, the biggest decline in sales occurred in the higher-priced luxury resort area of Wailea/Makena. That left other lower-priced parts of the Island's real estate market proportionally representing more sales that make up the median price.

In May 2008, 21 condos sold in Wailea/Makena for a median $2.5 million. Last month, only eight sold for a median $790,000. By contrast, the number of sales in Central Maui was unchanged at eight, though the median did decline from $291,500 in May 2008 to $118,750 last month.

In the single-family market, one of the biggest drops occurred in Central Maui where 51 homes sold in May 2008 for a median $483,850. Last month, there were 22 sales for a median $453,500.

For the first five months of the year, Maui single-family home sales were down 45 percent to 221 from 403 a year earlier. The median price was down 12 percent to $515,000, from $585,000.

Condo sales in the same period were down 50 percent to 229 from 454. The median price was down 28 percent to $412,000, from $575,000.