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Mililani, Hawaii - September 2007 Real Estate Sales Activity

Mililani Sign

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

The Mililani real estate is still moving strong. We are still seeing good real estate activity in the Mililani area. With low interest rates and a little more inventory, buyers are still able to buy the home of their dreams, while sellers are beginning to see properties moving again.

A few dynamics in the area:

Castle and Cooke is almost finished with new home construction in Mililani Mauka.
We have seen a large number of troops returning to Schofield Barracks from Iraq.
The rental side of the market has dried up.

The above items should put additional pressure on the sales of resale properties.

Single Family homes sales volume was off on the Mililani Town and the valleys, but has increased in Mililani Mauka. Sales prices in Mililani have leveled year to date from 2006 numbers. With mortgage rates remaining low, buyers and sellers will find it still a good time to make a move in Mililani.

Condo and townhouse sales are still looking strong. Sales volume is down from 2006 numbers, but prices have held and even shown a slight increase year to date from 2006.

Currently Active for Sale (October 25, 2007):

57 Single Family Homes - Mililani Area
44 Single Family Homes - Mililani Mauka
104 Condos/ Townhouses - Mililani Area
28 Condos/ Townhouses - Mililani Mauka

Currently in Escrow (October 25, 2007):

11 Single Family Homes - Mililani Area
12 Single Family Homes - Mililani Mauka
36 Condos/ Townhouses - Mililani Area
12 Condos/ Townhouses - Mililani Mauka

For the Month of September 2007

Single Family Homes - Sold
	Number of Sales			Average Sales Price
Area	2007	2006	% Change	2007	2006	% Change
Mililani Area *(Mililani Town, Launani Valley and Waipio Acres)*	7	25	-72%	$576,142	$565,700	1.85%
Mililani Mauka	11	7	57.14%	$661,308	$697,214	-5.15%

Year to Date Through September 30, 2007

Single Family Homes - Sold
	Number of Sales			Average Sales Price
Area	2007	2006	% Change	2007	2006	% Change
Mililani Area *(Mililani Town, Launani Valley and Waipio Acres)*	110	140	-21.43%	$576,767	$579,985	-0.55%
Mililani Mauka	142	132	7.58%	$711,576	$700,323	1.61%

For the Month of September 2007

Condos and Townhouses - Sold
	Number of Sales			Average Sales Price
Area	2007	2006	% Change	2007	2006	% Change
Mililani Area *(Mililani Town, Launani Valley and Waipio Acres)*	37	40	-7.50%	$317,922	$323,522	-1.83%
Mililani Mauka	12	10	20.00%	$346,666	$355,900	-2.59%

Year to Date Through September 30, 2007

Condos and Townhouses - Sold
	Number of Sales			Average Sales Price
Area	2007	2006	% Change	2007	2006	% Change
Mililani Area *(Mililani Town, Launani Valley and Waipio Acres)*	247	290	-14.83%	$305,937	$300,999	1.64%
Mililani Mauka	119	124	-4.03%	$346,997	$346,270	0.21%