In the first six months of 2008, activity along the Maui oceanfront declined significantly. Only five sales were completed compared to 19 in all of 2007. The median sale price of $8.7 million reflects the fact that of the homes sold, four were in tiptop condition and they averaged over 5000 square feet. The per square foot average of approximately $1500 is 15% below the 2007 level. However, with so few data points, only tentative conclusions can be drawn. At this sales pace, the over 50 oceanfront homes for sale represent several years of inventory, a stunning number. For details, contact us!