Mililani, Hawaii - Real Estate Sales Activity for December 2007 (A Year End Report)

This Mililani sales report covers zip code 96789 which covers both the Mililani Area (which includes Mililani Town, Launani Valley) 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 seen a large number of troops returning to Schofield Barracks from Iraq.  There has also been rotation of troops causing additional activity for both rentals and sales.

The above items should put additional pressure on the sales of resale properties.

Single Family homes: Sales prices in Mililani have are consistent year to date with 2006 numbers in all Mililani areas, with the exception of Mililani Mauka which has shown a slight gain, bring the average sale price for 2007 over $700,000 in Mauka for single family homes..  Year to date Sales volume in the Mililani Town and the valleys while has dropped by 20%, while Mililani Mauka sales volume has had a slight increase. With current inventory levels and mortgage rates remaining low, buyers and sellers will continue to find the Mililani real estate market attractive.

Condo and townhouses:  Sales volume was still down from 2006 levels in all areas in November and year to date.  Average sales prices showed a nice bump in December over the same period in 2006; bringing the year to date averages back up to the levels they were for 2006.

Currently Active for Sale (January 12, 2007): 

• 38 Single Family Homes - Mililani Area
• 33 Single Family Homes - Mililani Mauka
• 66 Condos/ Townhouses - Mililani Area
• 29 Condos/ Townhouses - Mililani Mauka

Currently in Escrow (January 12, 2007):

• 17 Single Family Homes - Mililani Area
•   7 Single Family Homes - Mililani Mauka
• 16 Condos/ Townhouses - Mililani Area
• 16 Condos/ Townhouses - Mililani Mauka

*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.

Mililani Links:

• Mililani Town Association: http://www.mililanitown.org/
• Mililani Drug Free: http://www.Mililanidrugfree.org/
• Mililani Chess Club: http://www.mililanichess.org/
• Mililani Real Estate: http://hawaiirandy.com/

Mililani Blog Posts:

• Welcome to Mililani - Part 1 the Shopping Centers
• Welcome to Mililani - Part 2 the Planned Community
• Welcome to Mililani - Part 3 the Surrounding Communities
• Mililani is Pet Friendly 
• Mililani, Hawaii Directory of Schools
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• 12 Great Reasons to Buy a Home in Mililani, Hawaii
• Mililani Chess Kids are Still Flashing Their Stuff
• Mililani Middle School Brings Home State Chess Title
• Mililani High School Cheerleaders Take Their First State Title
• A Sunny Day of Chess and Real Estate in Hawaii
• Mililani HS Wins OIA Softball Title
• Are You Involved in Your Community? If Not, Get to It.