Condominium sales across Maui fell 49% in the first quarter of 2009 compared to the same period a year ago. Median sale price declined 27% and the average per square foot value was 29% lower. Single family homes saw similar trends with unit sales falling 34%, median sale price falling 22% and average value per square foot down 27%.

Now obviously none of this is good news but we are now weeing prices at 2004-type levels and that makes it a heck of an opportunity.