MILILANI MARKET REPORT 2012 | MILILANI REAL ESTATE

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Real Estate Agent with Liberty Homes RS-#62825

Mililani Real Estate| Mililani Market Report for 2012

Mililani Town is the only community in Hawaii in 1986 to receive the distinction of "All American City" and is centrally located on the island of Oahu (Honolulu County) and to all US Military Bases as well. About 5-10 minutes up Highway 99 is Schofield Barracks (Army) and Wheeler AAF (Army), Hickam AFB and Pearl Harbor Navy Base is about 20-25 minutes down H-2 to H-1 Freeway. Kaneohe Marine Corp Air Station is up and over the H-3 Freeway.

We’ve definitely had a turn of events throughout 2012 in regards to our Mililani Housing Market. We’ve had ups and downs and turn around but needless to say the market has turned back to a seller’s market. Inventory is at an ALL TIME LOW and prices are regaining some ground.

Let’s take a look at the past year………..

Year of 2012 Market Report for Mililani Condos, Townhouses, Homes

Mililani Single Family Home Market Report 2012:  We have only 21 Active listings and 31 currently  in contract on the first of January 2013!. Mililani has had 217 homes sold in 2012 (19 short sales) compared to 198 in 2011 and 202 single family homes sold in 2010.  Sales Prices Ranged from $315,000 (2 bedroom “attached” home) to $1,050,000 (4 bedroom home) in Mililani Mauka. Average Days on the Market was 56 days for 2012 compared to 62 in 2011. 

MILIALNI MARKET REPORT FOR 2012

Mililani Condo Statistics for 2012: We have 25 Active condos/townhouses on the market and a promising 28 properties in contract for the start of 2013. We sold 296 condos in 2012 compared to 288 condos/townhouses in 2011. Sales Prices ranged from $79,500 (1 bedroom condo) to $455,000 (3 bdrm townhouse). Average Days on the Market were 67 days!

Mililani has had a consistent market during the last two years. The start of 2013 shows a promising active market with so many in contract and getting ready to close. The only difference is that the inventory of homes for sale has shown a BIG decline throughout 2012 with only 21 homes on the market compared to 54 last year and 104 in 2010!

For those Hawaii Home Buyers who are ‘still’ contemplating … the still low prices compounded with VERY low interest rates mean that it is the best time to buy. The math is clear, so if your current situation is in a buy mode…then…jump off that fence!

JUST REMEMBER...it’s turning towards a seller’s market when the inventory is low. Don’t lose the home you really love by being a killer negotiator.

 

 

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Celeste "Sally" Cheeseman  is a Realtor-Associate® and Certified Residential Specialist (CRS) with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs  she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocations, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents, Home Buyers and Sellers.

 

 © 2007-2015 Celeste "Sally" Cheeseman's

Hawaii Real Estate and Relocation Blog.

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Rainmaker
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Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Sally, great localism post for Mililani, Hawaii.  Best of luck in 2013.

It is so good to see you back here in the Rain (A)R).

Jan 22, 2013 12:59 AM #1
Rainmaker
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David Saks
(retired) - Memphis, TN

Glad to see the DOM rate is slimming down. Nice sign of market recovery.

Jan 22, 2013 01:02 AM #2
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