Photo Courtesy of Maui Paradise Properties.

By Maui Now Staff

Maui’s residential real estate market saw a median price decline to $558,625 in February of 2015, with a decrease in individual homes sales and increase in condo sales from month before levels, according to statistics from the Realtors Association of Maui.

Homes sales in February dropped to 60 houses sold, totaling 135 for the year and increasing by 8 percent compared with the same time last year.

Condo sales rose to 93 units sold, totaling 176 units for the year and declining slightly by 4 percent compared with the same time last year.  The median condo price rose significantly to $475,000.

Vacant land lot sales totaled 14 sold for the month, declining to a median price of $490,000, and holding steady compared with last year.

The average DOM (days on market) for houses sold was calculated at 91; 116 for condos; and 274 for land lots.

To see the full statistical report for Maui, please visit www.RAMaui.com.