Maui Real Estate Market "Dreadful"

Aloha Kakou:

Only 560 Maui homes and condos were sold in the first six months of 2009, compared to 989 for the same period in 2008.

The median price of a single-family home on Maui was off 14 percent to $510,000 compared to 2008. The condo median sale price was off 27 percent to $420,000.

With approximately 1300 licensed real estate agents on the island, at this rate, sales for the year will average fewer than one per agent, should the current sales pace hold for the rest of 2009.

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