Sales of previously owned homes on Maui last month fell by more than half compared with the same month last year, but prices were more stable.

The Realtors Association of Maui reported there were 30 single-family home resales in February, a 61 percent decline from 76 sales a year earlier. It was the second month in a row with 30 sales. The last time sales for any month was as low or lower was February 1997 when there were also 30 sales.

Single-family homes sold last month for a median $581,250, or 7 percent less than a year earlier when the median was $624,391.

The primary reason for the lower median was activity in Maui's main single-family home submarket, Central Maui, where 16 homes sold for a median $520,190 last month compared with 39 sales for a median $562,000 a year earlier.

There also were six fewer sales of homes for more than $1 million last month compared with February 2008.

One home in the Napili/Kahana/Honokowai area sold for $8.35 million, the trade association reported.

Condominium sales on Maui fell 54 percent to 44 last month from 95 a year earlier. Sales activity last month was down from 54 transactions in January but had been lower in November and December last year.

The median condo price rose about 1 percent to $578,950 last month compared with $575,000 a year earlier.

Maui's condo median price was helped by significantly more sales in the high-end Ka'anapali resort area as well as significantly fewer sales in the lower-end Kihei area.

Because the median is a point at which half the sales are for more and half for less, more sales in areas with luxury property will effectively boost the broader median sale price.

There were 14 Ka'anapali condo sales for a median $1.5 million last month, compared with four sales for a median $857,500 a year earlier. In contrast, there were 20 Kihei condo sales for a median $402,500 last month, compared with 48 sales for a median $436,500 a year earlier.

Keeping the median from rising more than just a bit was a significant decline in pricey condo sales in the Wailea/Makena resort area. There were just two sales in the region for a median $2 million last month, down from 19 sales for a median $1.9 million a year earlier.