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 price and sales volume in Mililani Town and the valleys saw a bounce back from the same period in 2007 and we are seeing modest increases in both. Mililani Mauka had a small decrease in average price and a 30% dip in units sold year to date. Mortgage rates have remained low, buyers and sellers will continue to find the Mililani real estate market quite attractive.
Condo and Townhouses (resale): Sales volume is down in all Mililani areas, while average sales price remained flat in Mauka and had modest increases in the other areas. The good news for sellers is that condos and townhouses are moving. If they are priced right and show well they still can move fast. For buyers there is some really nice selection out there. A client asked me what I think about Mililani. I had a simple answer. I live there, my office is there and my children go to school there. I guess I am big on Mililani.
Currently Active for Sale (August 5, 2008):
- 56 Single Family Homes - Mililani Area
- 56 Single Family Homes - Mililani Mauka
- 81 Condos/ Townhouses - Mililani Area
- 29 Condos/ Townhouses - Mililani Mauka
Currently in Escrow (August 5, 2008):
- 14 Single Family Homes - Mililani Area
- 9 Single Family Homes - Mililani Mauka
- 28 Condos/ Townhouses - Mililani Area
- 10 Condos/ Townhouses - Mililani Mauka
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For the Month of July - 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
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2008
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2007
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% Change
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2008
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2007
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% Change
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Mililani Area
(Mililani Town, Launani Valley and Waipio Acres)
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13
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12
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+8.33%
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$589,653
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$610,491
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-3.41%
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Mililani Mauka
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13
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27
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-51.85%
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$688,192
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$732,333
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-6.03%
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Year to Date Ending July 31st - 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
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2008
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2007
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% Change
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2008
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2007
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% Change
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Mililani Area
(Mililani Town, Launani Valley and Waipio Acres)
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91
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86
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+5.81%
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$573,537
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$572,993
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+0.09%
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Mililani Mauka
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77
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110
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-30.00%
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$676,068
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$711,304
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-4.95%
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For the Month of July - 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
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2008
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2007
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% Change
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2008
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2007
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% Change
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Mililani Area
(Mililani Town, Launani Valley and Waipio Acres)
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11
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21
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-47.62%
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$322,363
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$292,190
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+10.33
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Mililani Mauka
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11
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12
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-8.33%
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$320,272
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$336,708
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-4.88%
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Year to Date Ending July 31st - 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
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2008
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2007
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% Change
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2008
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2007
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% Change
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Mililani Area
(Mililani Town, Launani Valley and Waipio Acres)
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113
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200
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-43.50%
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$317,769
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$305,798
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+3.91%
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Mililani Mauka
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74
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94
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-21.28%
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$340,551
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$346,130
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-1.61%
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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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