The median price of homes on Maui made a rebound from November, but the total dollar sales volume for 2008 was down 28 percent compared to a year ago. The figures follow slumping real estate numbers reported earlier this week across the state.

Maui's median home price in December was $567,500, down 2.5 percent from $582,002 a year earlier, according to data released late yesterday by the Realtors Association of Maui. The median price in November was $472,000.

Home sales also dropped to 54, down 37.9 percent from 87 in December 2007.

For condos, the median price plummeted 21.2 percent to $493,250 from $626,000 a year ago. The median price in November was $399,000.

Thirty six existing condos were sold in December, a 50.7 percent drop from 73 in December 2007.

For 2008, the total dollar volume of home sales amounted to $754.1 million, down 28 percent from $1.05 billion in 2007. The total dollar volume of condo sales dropped 25 percent to $725.8 million in 2008 compared to 2007.

Terry Tolman, chief staff executive of the association, said the numbers reflect the increased worldwide economic and financial concerns that began in September.

“;Considering the financial news of the last 120 days, large layoffs nationally and everything else, we are still in a state of continued uncertainty,”; he said in a statement.

Active inventory grew in the last year, although properties priced right still seem to sell in a reasonable time frame, he said.

Sellers need to be realistic in their pricing, while buyers can take advantage of continued low interest rates and continuing declines in prices, he said.

The association also said yesterday that it has launched a new Web site, www.ramaui.com.