Maui's real estate market continued its slow climb out of the bottom in February, with home and condominium sales seeing increases and prices inching upward from the previous month.

Sales of single-family homes last month rose about 56 percent to 53 units, as opposed to 34 units in February last year. Although the median price fell by about 7 percent, to $507,200 from $545,000 in the year-earlier period, it went up from January's median price of $464,500.

Condominium sales saw a small increase, about 12 percent, to 94 units from 84 units last year. Median condominium prices dropped by about 38 percent, to $429,000 from $692,500 in February last year. The condominium median price in January was $404,000.

“;Median prices are showing some small upticks,”; said Terry Tolman, chief staff executive for the Realtors Association of Maui. “;The inventory includes many short sales and (bank-owned) properties which will need to be absorbed as sales before we can move ahead to a more normal marketplace, at which time prices will eventually rise.”;

The association advises now is a good opportunity to buy because the federal first-time homebuyer tax credit, of up to $8,000, ends April 30.