Homebuyers snapped up single-family homes and condominiums on Maui in November as low interest rates and a record-breaking stock market provided encouragement amid shrinking inventory.

The median cost for single-family homes rose 16.8% to $852,500 from $729,998 in the year-earlier period, according to new data released by the Realtors Association of Maui. Condo prices edged up 3.9% to $518,520 from $499,000.

The median price is a point at which half the sales were at a higher price and half at a lower price. This measure can be influenced by the size, age, location and quality of homes sold.

Sales of single-family homes jumped 37.8% to 102 from 72 while condo sales fell 8.5% to 130 from 142.

The supply of inventory based on the number of months it would last without additional available properties decreased 24% for single-family homes and 77.5% for condos.

Maui’s real estate data includes both new and resold homes.