Maui home sales, prices down

Maui home sales, prices down

It was still predominantly a buyer's real estate market on Maui last month.

While the median price for a single-family home declined 1.4 percent to $690,000, the number of sales increased by 41.7 percent from the year ago April. More than half of the condominium buyers in Maui paid $465,000 for a condominium in April, a decrease of 13.8 percent from the same month in 2006. Condominium sales also declined 14.7 percent from the same month in 2006

Growing inventory provided plenty of options for Maui buyers last month, said Terry Tolman, chief staff executive for the Realtors Association of Maui Inc.

Year-to-date indicators show sales of single-family homes are starting to gain ground on Maui compared to the first four months of 2006, he said, but added that condo unit sales and dollar volume have declined considerably.