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% |
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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% |
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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.
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Randy - I like how you pointed out the benefits of your current market to both buyers and sellers:
It looks as though you're in good shape when I compare the properties in escrow to those on the market.