Hawaii Randy's Real Estate Opinions: Mililani, Hawaii - Real Estate Sales Activity for February 2008

Mililani, Hawaii - Real Estate Sales Activity for February 2008

                                                                   Mililani Sign

 

This Mililani sales report covers zip code 96789 which covers both the Mililani Area (which includes Mililani Town, Launani Valley, Waipio Acres and Melemanu) and Mililani Mauka.

Mililani real estate is still moving strong.  We are still seeing good real estate activity in the Mililani area.  With low interest rates and some selection in the inventory, buyers are still able to buy the home of their dreams, while sellers were seeing their properties move if priced and marketed correctly.

A few dynamics in the area:

  • Castle and Cooke is almost finished with new home construction in Mililani Mauka.
  • We have continued to see troop movements at Schofield Barracks, helping to turn some of the inventory turning in Mililani.

Single Family homes: Average sales prices in Mililani Town and the valleys stayed consistent for the last 12 month with the pervious 12 month period, while Mililani Mauka had a slight increase over the previous period.  Year to date Sales volume in the Mililani Town and the valleys have dropped, while inventory levels have remained reasonably low; accounting for the stability in prices.  Along with mortgage rates remaining low, buyers and sellers will continue to find the Mililani real estate market attractive.

Condo and townhouses:  Sales volume for the last 12 month period was down from the previous 12 months in Mililani Town and the valleys while Mililani Mauka sales volume stayed consistent with the previous 12 month period..  Average sales prices during the last 12 months in Mililani Mauka stayed consistent with the previous 12 months.  Mililani Town and the valleys saw a slight increase in the average sales price.

Currently Active for Sale (March 29, 2008)

  • 50 Single Family Homes - Mililani Area
  • 39 Single Family Homes - Mililani Mauka
  • 85 Condos/ Townhouses - Mililani Area
  • 33 Condos/ Townhouses - Mililani Mauka

Currently in Escrow (March 29, 2008):

  • 20 Single Family Homes - Mililani Area
  • 16 Single Family Homes - Mililani Mauka
  • 23 Condos/ Townhouses - Mililani Area
  • 14 Condos/ Townhouses - Mililani Mauka

For the Month of  February - Sold Resale Homes

 

 

 

 

 

 

 

 

Single Family Homes - Sold

 

Number of Sales

 

Average Sales Price

Area

2008

2007

% Change

 

2008

2007

% Change

Mililani Area

(Mililani Town, Launani Valley and Waipio Acres)

8

6

+33.33%

 

$550,371

$566,666

-2.88%

Mililani Mauka

5

8

-37.50%

 

$648,900

$689,125

-5.84%

 

 

 

 

 

 

 

 

 

12 Months - Sold Resale Homes

 

 

 

 

 

 

 

 

Single Family Homes - Sold

 

Number of Sales

 

Average Sales Price

Area

Ending February 2008

Ending February 2007

% Change

 

Ending February 2008

Ending February 2007

% Change

Mililani Area

(Mililani Town, Launani Valley and Waipio Acres)

146

174

-16.09%

 

$574,464

$577,382

-0.51%

Mililani Mauka

166

180

-7.78%

 

$709,894

$693,751

+2.33%

 

For the Month of  February - Sold Resale Homes

 

 

 

 

 

 

 

 

Condos and Townhouses - Sold

 

Number of Sales

 

Average Sales Price

Area

2008

2007

% Change

 

2008

2007

% Change

Mililani Area

(Mililani Town, Launani Valley and Waipio Acres)

14

27

-48.15%

 

$292,571

$288,944

+1.26%

Mililani Mauka

12

6

+200.00%

 

$337,916

$404,666

-16.50%

 

 

 

 

 

 

 

 

 

12 Months - Sold Resale Homes

 

 

 

 

 

 

 

 

Condos and Townhouses - Sold

 

Number of Sales

 

Average Sales Price

Area

Ending February 2008

Ending February 2007

% Change

 

Ending February 2008

Ending February 2007

% Change

Mililani Area

(Mililani Town, Launani Valley and Waipio Acres)

286

356

-19.66%

 

$307,906

$301,248

+2.21%

Mililani Mauka

156

156

0.0%

 

$342,181

$345,055

-0.83%

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

Mililani Links:

 

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

Randy L. Prothero, REALTOR®

Broker-in-Charge, ABR, AHWD, CRB, CRS, e-PRO, GRI, MRP, SFR

eXp Realty

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.  His luxury home listings sell faster and for more money.

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 4 commentsRandy Prothero • March 29 2008 08:54PM

Comments

Randy - I like how you pointed out the benefits of your current market to both buyers and sellers:

With low interest rates and some selection in the inventory, buyers are still able to buy the home of their dreams, while sellers were seeing their properties move if priced and marketed correctly

It looks as though you're in good shape when I compare the properties in escrow to those on the market. 

Posted by Sharon Simms, St. Petersburg FL - CRS CIPS CLHMS RSPS (Coastal Properties Group International - Christie's International) over 10 years ago

Sharon - Thank you.

I am able to move properties fairly fast and am having good success finding buyers the home they love.  I still hear a lot of complaints from some weak agents, because of the lower sales volume from past years.  The top agents all seem to be having a good year.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 10 years ago
I like your list of links to posts about the community.  And we all know how consumers eat up these market reports!
Posted by Margaret Woda, Maryland Real Estate & Military Relocation (Long & Foster Real Estate, Inc.) over 10 years ago
Margaret - Thank you
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 10 years ago

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