This Mililani sales report covers zip code 96789 which covers both the Mililani Area (which includes Mililani Town, Launani Valley) 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 seen a large number of troop movements at Schofield Barracks, keeping the inventory turning in Mililani.
Single Family homes: Average sales prices in Mililani 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, but inventory levels also went down, which accounts for the stability in prices. With current inventory levels and 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. 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 decrease in the average sales price.
Currently Active for Sale (February 5, 2008):
- 36 Single Family Homes - Mililani Area
- 30 Single Family Homes - Mililani Mauka
- 67 Condos/ Townhouses - Mililani Area
- 35 Condos/ Townhouses - Mililani Mauka
Currently in Escrow (February 5, 2008):
- 20 Single Family Homes - Mililani Area
- 10 Single Family Homes - Mililani Mauka
- 21 Condos/ Townhouses - Mililani Area
- 15 Condos/ Townhouses - Mililani Mauka
For the Month of January - Sold Resale Homes |
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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) | 15 | 11 | +36.26% | | $533,333 | $547,318 | -2.56% |
Mililani Mauka | 8 | 13 | -38.46% | | $680,237 | $720,000 | -5.52% |
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12 Months - Sold Resale Homes |
| | | | | | | |
Single Family Homes - Sold |
| Number of Sales | | Average Sales Price |
Area | Ending January 2008 | Ending January 2007 | % Change | | Ending January 2008 | Ending January 2007 | % Change |
Mililani Area (Mililani Town, Launani Valley and Waipio Acres) | 144 | 175 | -17.71% | | $575,477 | $575,328 | 00.03% |
Mililani Mauka | 169 | 181 | -6.63% | | $710,716 | $695,017 | +2.26% |
For the Month of January - Sold Resale Homes |
| | | | | | | |
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) | 17 | 23 | -26.09% | | $307,876 | $286,608 | +7.42% |
Mililani Mauka | 12 | 13 | -7.69% | | $366,841 | $350,038 | +4.80% |
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12 Months - Sold Resale Homes |
| | | | | | | |
Condos and Townhouses - Sold |
| Number of Sales | | Average Sales Price |
Area | Ending January 2008 | Ending January 2007 | % Change | | Ending January 2008 | Ending January 2007 | % Change |
Mililani Area (Mililani Town, Launani Valley and Waipio Acres) | 299 | 363 | -17.63% | | $289,189 | $302,520 | -4.41% |
Mililani Mauka | 150 | 161 | -6.83% | | $345,022 | $345,270 | -00.07% |
*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.
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Randy. Looks like the same old, same old. Fairly stable prices and dramatically lower number of sales. You'd think the consumer would get a clue by now.
Same thing here.