Business and Finance

Sales of condominiums in Maui County doubled last month, while sales of single-family homes rose 35 percent.

There were 104 condo units sold in May, including two on Molokai, which was 100 percent more than the 52 units that sold in May 2009, according to the Realtors Association of Maui.

There were 81 single-family houses sold on Maui alone last month, a 35 percent increase compared to the 60 homes that sold on Maui, Lanai and Molokai during the same month last year.

Prices, however, didn’t follow suit. The median price for a single-family house was $442,000 in May, an 8 percent decline from $482,500 in May 2009.

The median price of a condo in Maui County last month was $412,500, which was a 3 percent increase compared to $399,000 in May 2009 Payday Loan for Bad Credit.

Year-to-date, single-family home sales are up 49 percent compared to last year, while the median price for the first five months of the year is $460,000, down 9 percent.

Condo sales for the first five months of the year are up 59 percent; however, the year-to-date median price for a condo in Maui County is $427,750, a 34 percent drop from the same period last year.

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