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The Honolulu Advertiser
Posted on: Thursday, December 8, 2005

Maui home prices climb

By Dan Nakaso
Advertiser Staff Writer

Maui single-family home prices rose to a near record in November, but experts cautioned not to read too much into the numbers because of the relatively small size of the Maui market.

The Realtors Association of Maui said 78 single-family homes sold in November, down 11 from the month before, while the median price climbed from $695,000 to $767,000. The previous November, Maui had 108 single-family transactions with a median price of $525,000.

The record median price for single-family Maui homes was set in May at $780,000.

The median condo price fell from $475,000 in October to $469,000 in November. There were six more condominium sales in November — 131 — than in October. In November 2004, when 147 units were sold, Maui's median condominium price was $385,000, according to the real-estate organization.

Ron Silva, broker in charge of the Wailuku office of 'Aina Maui Properties, cautioned that only a few high-priced transactions can affect Maui's median prices each month.

"Typically, the holiday months are slower," Silva said, "but prices are still up, and interest rates are still good."

Single-family home sales on the Big Island and Kaua'i fell in November from the year before, according to data released Tuesday. Condominium transactions also dropped on the Big Island but jumped on Kaua'i.

Prices for both condominiums and single-family homes rose on both islands.

Reach Dan Nakaso at dnakaso@honoluluadvertiser.com.

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