Hawaii Randy's Real Estate Opinions: January 2011

Mililani, Hawaii - Real Estate Sales Activity for 2010

This Mililani sales report covers zip code 96789 which covers the planned communMililani All America City Signity of Mililani (Mililani Town and Mililani Mauka) and the Valleys outside the planned community (which includes Launani Valley and Waipio Acres).

Mililani real estate has shown continuing signs of improvement in 2010.  Inventory levels are lower than we have seen in the past.  Prices have stabilized and are begging to climb.  The first part of 2010 got a boost from the federal buyer's tax credits.  As the year wound down, things slowed during the holidays.  I am expecting to see increased sales activity in Q1 of 2011.

A few dynamics in the area:  We are continuing to see troop movements at Schofield Barracks, which is contributing to the movement of inventory in Mililani.  Troop movements put continuing pressure on the rental market and entry level property sales.

Single Family Homes (resale): Average sales prices in showed increases in all three areas of Mililani. Sales volume also showed increase in Mililani Town and the valleys.   Mililani Mauka saw a decrease in sales volume, but inventory levels also dropped keeping pressure on prices.

Buyers will find this to be a great time to get in the market.

  • Prices have stabilized and are seeing pressure to increase.
  • Interest rates are still at historic low levels.

Sellers will find this a great time to list their home.

  • Inventory levels are low giving them less competition.
  • Prices have stabilized.  Making appraisals less scary.

Condo and Townhouses (resale):  Sales volume is down in all three areas compared to 2009.  Prices are up in the planned community, due to low inventory levels.  The valleys have seen lower prices.  Inventory levels in the valleys are high compared to the sales volume, which is still putting pressure on prices to go down in some of the complexes.  Some buyers are seeing value in the valleys again.

Currently Active for Sale (January 1, 2011)

  • Century 21 Liberty Homes Sign20 Single Family Homes - Mililani Area
  • 22 Single Family Homes - Mililani Mauka
  •   6 Single Family Homes - The Valleys
  • 32 Condos/ Townhouses - Mililani Area
  • 24 Condos/ Townhouses - Mililani Mauka
  • 49 Condos/ Townhouses - Valleys

Currently in Escrow (January 1, 2011):

  • 13 Single Family Homes - Mililani Area
  • 13 Single Family Homes - Mililani Mauka
  •   1 Single Family Homes - The Valleys
  • 15 Condos/ Townhouses - Mililani Area
  •   7 Condos/ Townhouses - Mililani Mauka
  • 12 Single Family Homes - The Valleys

  

Mililani, Hawaii (96789) - Year End Totals

Single Family Homes - Sold

 

Number

of

Sales

 

Average

Sales

Price

Area

2010

2009

% Change

 

2010

2009

% Change

Mililani Area

100

82

+21.95%

 

$557,989

$524,003

+6.49%

Mililani Mauka

102

112

-8.93%

 

$678,807

$669,020

+1.46%

The Valleys

20

18

+11.11%

 

$470,015

$465,888

+0.11%

Condos and Townhouses - Sold

 

Number

of

Sales

 

Average

Sales

Price

Area

2010

2009

% Change

 

2010

2009

% Change

Mililani Area

93

101

-7.92%

 

$288,311

$306,987

+0.89%

Mililani Mauka

90

114

-21.05%

 

$322,815

$312,316

+3.36%

The Valleys

68

69

-1.44%

 

$224,752

$238,904

-5.92%

  *These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.                                                                                                            

 For consumers looking to buy a home here is a helpful fact sheet: http://www.hawaiirandy.com/BuyingHome.html

For homes owners looking to sell their home: http://www.hawaiirandy.com/SellingHome.html

 

--------------------------------------------------------------------------------------------------------

Randy L. Prothero, REALTOR®

Principal Broker, ABR, AHWD, CRS, e-PRO, GRI, MRP, SFR

Island Style Realty Inc.

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

Comment balloon 7 commentsRandy Prothero • January 01 2011 10:08PM
Mililani, Hawaii - Real Estate Sales Activity for 2010
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This Mililani sales report covers zip code 96789 which covers the planned commun ity of Mililani (Mililani Town and Mililani Mauka) and the Valleys outside the planned community (which includes Launani Valley and Waipio Acres ). Mililani real… more