Maui County’s housing market began feeling the effects of the coronavirus economic downturn in April with a generally slowing market in sales and listings and a 7.9 percent decrease in median prices for homes to $754,523, compared to 2019.

Condo prices, on the other hand, rocketed 35.6 percent to $602,494 in April — the highest monthly median price since 2009 (the median is the middle number in a series). Almost half of the April condo sales, 42, came from the west side — Kaanapali, Lahaina, Kapalua and Napili/Kahana/Honokowai.

And Kaanapali logged 21 sales — second to Kihei — with a median price of $2.2 million, which was the highest regional condo median price. There were nearly twice as many sales in April in Kaanapali compared to 2019 (11) and nearly double the median price ($1.2 million).

“In the face of these challenging times, real estate activity in April slowed significantly,” the Realtors Association of Maui said in its summary accompanying the report. “It is expected that social distancing, higher unemployment and lower overall economic activity is likely to continue to constrain real estate activity in the near term.”

The summary noted that the real estate industry is adapting to the current environment by using technologies, such as virtual showings and e-signings.

In the single-family home market, sales actually rose 7.7 percent to 84 in April, compared to 78 in 2019. But other factors showed a slowing market, such as new listings down 42 percent to 72, pending sales down 57.8 percent to 46, and days on the market increasing 34 percent to 155 days compared to 116 a year earlier.

The inventory of homes for sale in April was down 19 percent to 420 units, the lowest monthly figure in at least a decade.

Homes became more affordable with falling prices, though a person with a median household income still earned less than half of what was necessary to qualify for a median-priced home.

The regions with the largest number of sales were Wailuku, 16 units ($713,295 median price); Kahului, 15 ($690,000) and Kihei, 15 ($790,000).

Although condo prices skyrocketed in April, condo sales were down 37 percent to 87 units, compared to 138 in 2019. Like with single-family homes, condo new listings were down 24 percent to 124 and pending sales were off 72 percent to 39 (compared to 137 in 2019).

The inventory of units for sale, though, was down only 1.3 percent to 540 year over year. However, since January, the inventory has fallen 82 units.

Kihei logged the highest number of sales, 30 ($452,000); Kaanapali, 21 ($2,150,000) and Napili/Kahana/Honokowai, 11 ($445,000).

The Realtors Association of Maui Report can be found at www.rammaui.com.

* Lee Imada can be reached at leeimada@mauinews.com.