Hawaii Randy's Real Estate Opinions: Real Estate Sales In Mililani Seems to be Picking Up

Real Estate Sales In Mililani Seems to be Picking Up

In the last few weeks we have seen a surge in business in Mililani and the surrounding area.

Our office had two townhouses for sale.  One was on the market for a little over a year and the other nearly 6 months.  They were just sitting there with very little interest and then it happened.  At the same time they both received multiple offers and went into escrow.  Ok I know that is not scientific, but let's look at a few more.

On the first of the month 3/1/07, I listed a 3 bed/ 2.5 bath townhouse for sale in Laulea.  My clients were still moving out and we were putting in new carpet.  We did not have showings until last Wednesday starting at 10:00am.  That afternoon I already had multiple offers pushing it over asking price.  In Mililani Garden Homes 1 another agent from a neighboring Century 21 office had a listing that was the twin brother to the one I am selling in Laulea.  I checked that day to find his was scooped up also.  The beginning of the year these properties were just not moving.

In the last few weeks I have also noticed inventory in Mililani has come down some.

Mililani SignToday  3/14/07:

Townhouses Sales

  • 111      Active for Sale
  • 63        In Escrow
  • 218      Sold in last 6 months

Single Family Homes

  • 88        Active for Sale
  • 44        In Escrow
  • 142      Sold in last 6 months

We have now dropped to 2 months inventory, making it a sellers market again in Mililani.

What are some of the forces pushing this new positive movement?  Interest rates are low.  The homes construction is almost completely built out in Mililani Mauka.  We also have the Striker Brigade coming to Schofield Barracks.  The 2nd Brigade is still in Iraq.  When they return there will be another big pressure on our housing inventory.  At least for the short term things are looking up in Mililani.

 

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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 11 commentsRandy Prothero • March 14 2007 04:44PM

Comments

Great news for you Randy! Hope it keeps up for you guys over there!
Posted by Lysa Napolitano over 11 years ago
I am mostly concerned with the lenders.  If the money gets tough it will effect everyone.
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 11 years ago
Randy, that is what we like to see, houses selling fast and not sitting on the market for ever.
Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 11 years ago
Good to see the up-tick in sales! A year ago you couldn't give Condos away here. Now I check the market for a potential buyer and there are hardly any left on the market!
Posted by Danny Smith (DISCOVER TEXAS HOMES) over 11 years ago

George - Especially when they are my listings.  :)

Danny - We slowed for part of last year, but it seems to be moving strong again here.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 11 years ago
Randy, It seems to be picking up here also.  I just put one in escrow and was in multiple offers also. 
Posted by Laurie Manny (Long Beach CA Real Estate) over 11 years ago
Laurie - I love multiple offers.  I thought I wouldn't see those days for awhile.  I am happy to see them back.
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 11 years ago
Randy-Hotsheets told me today that your office put another one in escrow today.  It had been on the market for a long time. 
Posted by 1SG (Ret.) David Kucic, President and Owner (Hawaii Military Realty, Inc.) over 11 years ago
David - We had a few old listings go in the last two weeks.
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 11 years ago
Your post has been included in the week in review.
Posted by Maggie Dokic | Miami, FL | 305.81.HOUSE (46873), GREEN, CDPE, SFR, Pinecrest | Palmetto Bay | (eXp Realty LLC) over 11 years ago
Thank you Maggie, I believe this is my first time.
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 11 years ago

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