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The Honolulu Advertiser
Posted on: Monday, February 8, 2010

Maui home and condo sales experience big swings in January

Advertiser Staff

Maui’s housing market experienced dramatic swings in sales of single-family homes and condominiums in January compared with the same month a year earlier.

There were 46 single-family home sales on the Valley Isle last month, a 48 percent rise over 31 in the same month a year before, according to the Realtors Association of Maui.
The strong gain coincided with big jumps in January sales reported earlier on Oçahu, Kauaçi and the Big Island. But for Maui the jump came off a dramatic year-ago low.
Sales in January 2009 marked a low for any month since February 1997, according to trade association data.
Also lackluster was the median sale price that was down 16 percent to $469,000 last month from $558,000 a year earlier.
The number of Maui condo sales was down 31 percent to 71 last month from 108 a year earlier. Again, the year-ago figure was somewhat of an anomaly as the most for any month since 2007 when Hawaiçi’s housing market was still hot.