This Mililani sales report covers zip code 96789 which covers both Mililani Mauka and Mililani Area (which includes Mililani Town, Launani Valley and Waipio Acres).
Mililani real estate is still moving strong. We are still seeing good real estate activity in the Mililani area. Mililani has remained a balanced market giving buyer good selection, and seller's the ability to move appropriately priced homes.
A few dynamics in the area:
Castle and Cooke have almost finished selling the new homes in Mililani Mauka. We are continuing to see troop movements at Schofield Barracks, which is contributing to the movement of inventory in Mililani.
Single Family Homes (resale): Average sales prices in Mililani Town and the valleys stayed saw a dip in June from the levels last year, while year to date they have stayed consistent. Mililani Mauka had a small decrease in average price over the same period last year. Year to date Sales volume in the Mililani Town and the valleys are up from last year, while Mililani Mauka dipped a little. Inventory levels have remained consistent. Along with mortgage rates remaining low, buyers and sellers will continue to find the Mililani real estate market attractive.
Condo and Townhouses (resale): Sales volume and average sales prices in Mililani Town and the Valleys both saw modest increase while Mililani Mauka saw slippage in volume and held their average prices consistent with last year.
Currently Active for Sale (July 5, 2008):
- 53 Single Family Homes - Mililani Area
- 49 Single Family Homes - Mililani Mauka
- 82 Condos/ Townhouses - Mililani Area
- 26 Condos/ Townhouses - Mililani Mauka
Currently in Escrow (July 5, 2008):
- 20 Single Family Homes - Mililani Area
- 14 Single Family Homes - Mililani Mauka
- 27 Condos/ Townhouses - Mililani Area
- 12 Condos/ Townhouses - Mililani Mauka
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For the Month of June - Sold Resale Homes |
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Single Family Homes - Sold |
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Number of Sales |
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Average Sales Price |
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Area |
2008 |
2007 |
% Change |
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2008 |
2007 |
% Change |
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Mililani Area (Mililani Town, Launani Valley and Waipio Acres) |
13 |
13 |
-- |
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$578,057 |
$613,846 |
-5.83% |
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Mililani Mauka |
14 |
16 |
-12.5% |
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$650,535 |
$684,718 |
-5.00% |
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Year to Date Ending June 30th - Sold Resale Homes |
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Single Family Homes - Sold |
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Number of Sales |
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Average Sales Price |
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Area |
2008 |
2007 |
% Change |
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2008 |
2007 |
% Change |
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Mililani Area (Mililani Town, Launani Valley and Waipio Acres) |
78 |
74 |
+5.41% |
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$570,851 |
$566,912 |
+0.31% |
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Mililani Mauka |
64 |
83 |
-22.81% |
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$673,606 |
$704,463 |
-4.38% |
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For the Month of June - Sold Resale Homes |
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Condos and Townhouses - Sold |
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Number of Sales |
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Average Sales Price |
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Area |
2008 |
2007 |
% Change |
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2008 |
2007 |
% Change |
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Mililani Area (Mililani Town, Launani Valley and Waipio Acres) |
22 |
37 |
-40.54% |
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$344,700 |
$288,048 |
+19.67% |
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Mililani Mauka |
7 |
20 |
-65.00% |
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$382,471 |
$354,150 |
+8.00% |
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Year to Date Ending June 30th - Sold Resale Homes |
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Condos and Townhouses - Sold |
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Number of Sales |
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Average Sales Price |
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Area |
2008 |
2007 |
% Change |
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2008 |
2007 |
% Change |
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Mililani Area (Mililani Town, Launani Valley and Waipio Acres) |
102 |
179 |
-43.02% |
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$317,274 |
$307,394 |
+3.21% |
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Mililani Mauka |
63 |
82 |
-33.17% |
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$344,092 |
$347,509 |
-0.98% |
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*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.
©2008 Randy L. Prothero
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Randy L. Prothero, REALTOR®, ABR, AHWD, CRS, e-PRO, GRI, SFR
Century 21 Liberty Homes
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) and the Leeward Regional Chairman of the Honolulu Board of Realtors. To improve overall professionalism in his area Randy also offers classes for real estate agents.
www.HawaiiRandy.com * Oahu (Honolulu County) Property Search * Hawaii Military Relocations
Randy - Very detailed report. I also like the way you mentioned what was having an influence on the inventory. It is great to be in a market doing so well.
Jennifer - It has stayed consistent the last couple of years in Mililani.
Randy, very interesting report!! Do you think it is because less people are able to purchase SFH or more people or buying vacation/investment condo/townhouses?
Amanda - I think it is also the result of troop movements. The military buy and sell more condos and townhouses than single family homes.
I like the detail in your report and the way it is layed out. Very nice post!
Sharon - Thank you
Single family seems to be picking up here in Florida too.
Jennifer - From what I have been reading, It had only one direction to go in Florida. I hope that means the bottom has been hit in parts of the country.