Maui condo prices rise

Condominium prices on Maui increased nearly 15 percent in March compared to the year earlier, though single-family homes prices were relatively flat, according to the latest data released yesterday by Realtors Association of Maui Inc.

The median condominium price last month rose to $538,500, compared to $469,500 in the year-earlier period, while the median single-family home price was $620,000, a slight drop from $625,000 the year before.

Maui's median land price was $375,000 last month, a nearly 32 percent drop from $550,000 in March 2007.

Residential home sales rose month-over-month to 95 units, while condo sales slid to 92 units. That compares to 131 houses and 95 condominiums a year ago. Maui saw a total of nine land sales last month, compared to 17 land deals in the year-earlier period.