This Mililani sales report covers zip code 96789 which covers the planned commun
ity of Mililani (Mililani Town and Mililani Mauka) and the Valleys outside the planned community (which includes Launani Valley and Waipio Acres).
Mililani real estate has shown continuing signs of improvement in 2010. Inventory levels are lower than we have seen in the past. Prices have stabilized and are begging to climb. The first part of 2010 got a boost from the federal buyer's tax credits. As the year wound down, things slowed during the holidays. I am expecting to see increased sales activity in Q1 of 2011.
A few dynamics in the area: We are continuing to see troop movements at Schofield Barracks, which is contributing to the movement of inventory in Mililani. Troop movements put continuing pressure on the rental market and entry level property sales.
Single Family Homes (resale): Average sales prices in showed increases in all three areas of Mililani. Sales volume also showed increase in Mililani Town and the valleys. Mililani Mauka saw a decrease in sales volume, but inventory levels also dropped keeping pressure on prices.
Buyers will find this to be a great time to get in the market.
- Prices have stabilized and are seeing pressure to increase.
- Interest rates are still at historic low levels.
Sellers will find this a great time to list their home.
- Inventory levels are low giving them less competition.
- Prices have stabilized. Making appraisals less scary.
Condo and Townhouses (resale): Sales volume is down in all three areas compared to 2009. Prices are up in the planned community, due to low inventory levels. The valleys have seen lower prices. Inventory levels in the valleys are high compared to the sales volume, which is still putting pressure on prices to go down in some of the complexes. Some buyers are seeing value in the valleys again.
Currently Active for Sale (January 1, 2011):
20 Single Family Homes - Mililani Area- 22 Single Family Homes - Mililani Mauka
- 6 Single Family Homes - The Valleys
- 32 Condos/ Townhouses - Mililani Area
- 24 Condos/ Townhouses - Mililani Mauka
- 49 Condos/ Townhouses - Valleys
Currently in Escrow (January 1, 2011):
- 13 Single Family Homes - Mililani Area
- 13 Single Family Homes - Mililani Mauka
- 1 Single Family Homes - The Valleys
- 15 Condos/ Townhouses - Mililani Area
- 7 Condos/ Townhouses - Mililani Mauka
- 12 Single Family Homes - The Valleys
|
Mililani, Hawaii (96789) - Year End Totals |
|||||||
|
Single Family Homes - Sold |
|||||||
|
|
Number |
of |
Sales |
|
Average |
Sales |
Price |
|
Area |
2010 |
2009 |
% Change |
|
2010 |
2009 |
% Change |
|
Mililani Area |
100 |
82 |
+21.95% |
|
$557,989 |
$524,003 |
+6.49% |
|
Mililani Mauka |
102 |
112 |
-8.93% |
|
$678,807 |
$669,020 |
+1.46% |
|
The Valleys |
20 |
18 |
+11.11% |
|
$470,015 |
$465,888 |
+0.11% |
|
Condos and Townhouses - Sold |
|||||||
|
|
Number |
of |
Sales |
|
Average |
Sales |
Price |
|
Area |
2010 |
2009 |
% Change |
|
2010 |
2009 |
% Change |
|
Mililani Area |
93 |
101 |
-7.92% |
|
$288,311 |
$306,987 |
+0.89% |
|
Mililani Mauka |
90 |
114 |
-21.05% |
|
$322,815 |
$312,316 |
+3.36% |
|
The Valleys |
68 |
69 |
-1.44% |
|
$224,752 |
$238,904 |
-5.92% |
*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.
For consumers looking to buy a home here is a helpful fact sheet: http://www.hawaiirandy.com/BuyingHome.html
For homes owners looking to sell their home: http://www.hawaiirandy.com/SellingHome.html
Comments(7)