Mililani Real Estate, My History in Mililani, Current Mililani Housing Market Statistics May 2009

A Little History

Mililani IS the only community in Hawaii to receive the distinction "All American City" in 1986. Mililani Town and Mililani Mauka, a Master Planned Community has a population of approximately 30,000 people.

The first homes went up for sale around June 1968 and 112 homes were offered for purchase.

In The Beginning...

In 1971 my parents bought a new home and we moved to Mililani Town upon completion that summer. Since Mililani High School wasn't finished yet I had to catch the bus to Wahiawa until graduation from Leilehua in 1974.

Our H-2 freeway opened in 1976 which lessened the time to travel to and from Honolulu with an additional route other than Kamehameha Highway. Mililani Mauka Subdivision had their groundbreaking ceremony in 1990 and the building continued until last year when the last of the homes were sold.

Current Real Estate Trends in Mililani

The Mililani Real Estate and Housing Market remained stable in sales the past few months although prices dropped some overall the past year. The good thing is that the sales numbers have increased and inventory dropped considerably over the last year as well.

What does that tell us? The following Mililani Real Estate Sales Activity for May of 2009 tells a story compared to the following statistics for 2008 at this same time period.

Current Market Report 2009

Single Family Homes
	# Active	# In Escrow	# Sold	DOM	Average Sales Price
Mililani Town	29	12	11	56	$521,000
Mililani Mauka	19	9	15	88	$641,266
Condos/Townhouses
	# Active	# In Escrow	# Sold	DOM	Average Sales Price
Mililani Town	52	15	9	84	$264,605
Mililani Mauka	21	16	12	69	$312,983

*NOTE: DOM (Days on Market) means how long the property was listed on the MLS until the properties went into escrow with an accepted contract.

2008 Market Report

Single Family Homes
	# Active	# In Escrow	# Sold	DOM	Average Sales Price
Mililani Town	53	20	13	52	$650,535
Mililani Mauka	49	14	14	63	$578,057
Condos/Townhouses
	# Active	# In Escrow	# Sold	DOM	Average Sales Price
Mililani Town	82	27	7	59	$382,471
Mililani Mauka	26	12	22	59	$344,700

Here's the bottom line: The First Time Homebuyer $8,000 tax credit brought interest back into our market over the last couple of months. The Military plays a big part in our community and the Hawaii VA Loan is a great loan for the Hawaii Military Relocation client. So, with the inventory down we all know what happens when you snooze. You lose. :)

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Be proactive in your Hawaii Relocation and your search for your home in paradise.

It's not easy moving across the Pacific Ocean let alone to a totally different "world" of people but you can do it with effort, motivation and a great Realtor®!

Celeste "Sally" Cheeseman is a Realtor-Associate 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 Relocating to Hawaii, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents. Website: www.hawaiihomesmarket.com