Mililani, Hawaii - Real Estate Sales Activity for April 2012

By
Real Estate Broker/Owner with Island Style Realty Inc. RB-19250

Mililani, HawaiiThis Mililani sales report covers zip code 96789 which covers the planned community of Mililani (Mililani Town and Mililani Mauka) and the Valleys outside the planned community (which includes Launani Valley and Waipio Acres).

 

The Mililani Real Estate Market has shown mixed signs during the first 4 months of 2012.  Inventory levels are lower than we have seen in the past.  Prices have stabilized and are beginning to climb in the planned community areas. 

 

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.  The military has added a large amount of base housing which works against the local housing market for volume.  The rental market inventory has been extremely low.  Most times of the month our office’s property management department has 100% of their rentals full.

 

Single Family Homes (resale): Average sales price and volume have seen a noticeable increase in Mililani Mauka.  Within the town side of the planned community, volume and prices have remained at 2011 levels. The valleys have continued to struggle. The most encouraging indicators are the increased number of homes currently in escrow and the low number of homes active for sale.  If this recent trend continues, you can expect increases in 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 and average prices have also seen a big bump in Mililani Mauka and the other areas have seen dipping in volume and slight dips in average prices.  Inventory levels are up again for condos in Mililani. The valleys have a larger inventory versus the planned community.  Currently the Mililani Town is seeing an increase of condos in escrow, which may put some pressure on the inventory and the prices if the trend continues.  Melemanu Valley continues to struggle, but offers some of the best values in the area.  When buying a condo a good Realtor who knows the area can help you determine how well a complex is managed.

 

 

Century 21 SignCurrently Active for Sale (May 5, 2012): 

19 Single Family Homes - Mililani Town

22 Single Family Homes - Mililani Mauka

  5 Single Family Homes – The Valleys

32 Condos/ Townhouses - Mililani Area

24 Condos/ Townhouses - Mililani Mauka

49 Condos/ Townhouses - Valleys

 

Currently in Escrow (May 5, 2012):

16 Single Family Homes - Mililani Area

13 Single Family Homes - Mililani Mauka

  9 Single Family Homes – The Valleys

15 Condos/ Townhouses - Mililani Area

  7 Condos/ Townhouses - Mililani Mauka

12 Single Family Homes – The Valleys

---------------------------------------------------------------------------------------------

 

        Mililani, Hawaii (96789) – 1/1/12 thru 1/30/12

 

           Single Family Homes - Sold

 

Area

2012

2011

% Change

 

2012

2011

% Change

Mililani Town

26

29

-10.34%

 

$535,398

$526,875

+1.61%

Mililani Mauka

33

26

+26.92%

 

$683,209

$630,211

+8.41%

The Valleys

4

6

-33.33%

 

$420,125

$477,500

-12.02%

 

              Condos and Townhouses - Sold

 

Area

2012

2011

% Change

 

2012

2011

% Change

Mililani Town

7

10

-30.00%

 

$289,671

$302,758

-4.53%

Mililani Mauka

10

3

+333.33%

 

$311,464

$239,166

+30.23%

The Valleys

7

17

-58.89%

 

$209,278

$210,232

-0.05%

*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

Posted by

 

--------------------------------------------------------------------------------------------------------

Randy L. Prothero, REALTOR®

Principal Broker, ABR, AHWD, CRS, e-PRO, GRI, MRP, SFR

Island Style Realty Inc.

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

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Show All Comments
Rainmaker
981,294
Edward & Celia Maddox
Solutions Real Estate - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

I wish we had those type of prices here in Arizona.  Lovel place you are selling in.

May 06, 2012 08:24 AM #1
Rainmaker
622,432
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645

Edward & Celia - If you had those kind of prices in Arizona, not many people would move there.  They would over crowd us in Hawaii.

May 06, 2012 08:40 AM #2
Rainmaker
1,207,534
John Pusa
Sellstate Pacific Realty - Glendale, CA
Your All Time Realtor With Exceptional Service

Randy - Thank you for sharing detailed quality information on Mililani, Hawaii, real estate sales activity for April 2012.

May 06, 2012 10:59 AM #3
Rainmaker
1,780,594
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Looks like some change for the better is happening.  It is all good for now.

May 06, 2012 03:46 PM #4
Rainmaker
622,432
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645

John - Being that we have a few different areas with different characteristics, I find it is important to break them out.

William - There are definitely positive signs.  With the low interest rates, those who are waiting may find it is now time to make the move.

May 06, 2012 10:16 PM #5
Show All Comments
Rainmaker
622,432

Randy Prothero

Hawaii REALTOR, (808) 384-5645
Ask me for a free valuation of your Oahu Home.
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