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Maui home and condo sales continue to fall

June 18, 2009
Maui Weekly

The Associated Press - Sales of homes and condominiums on Maui plunged 40 percent in May, compared to the same month last year. According to the Realtors Association of Maui, there were 97 sales of previously owned homes in May last year, but only 56 sold last month. The association says condo sales dropped from 84 to 47 during the same month. The decline of sales was attributed to the decrease in purchases of high-priced luxury residences. The median home sale price also fell, from $567,000 in May 2008 to $487,500 last month. Likewise, median prices for condos also fell in the same months, from $512,500 to $315,500.



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