Mililani Real Estate Market Report | Mililani Home Sales May 2011

Mililani Real Estate Market Report | Mililani Home Sales May 2011

The national news does not depict the housing market for Hawaii and it's local areas and neighborhoods.. Each neighborhood will determine the housing market for your local area. For Mililani Real Estate, we can pretty much gather that that the sales prices will vary from other neighborhoods.... and so will the median and average prices and the number of sold properties.

To better determine particulars for your market (with criteria including your sq/ft interior, land, condition and year built), contact me for a Complimentary Property Evaluation.

Mililani Single Family Homes Market Report May 2011: We have 69 Active Listings for May of 2011 (33 for Mililani Town and 36 Mililani Mauka), with 36 in contract (19 for Mililani Town and 17 for Mililani Mauka) and 18 sold properties (9 for Mililani Town and 9 for Mililani Mauka) Mililani Single Family Home activity remains comparable with previous months for 2011 with multiple contracts submitted and accepted due to the lower inventory. Average Sales Prices were a higher at $628,850 than the previous month of $614,000 and a bit lower at $633,500 a year ago. Average days on market...DOM was 43 days!

Mililani Condo Statistics for May 2011: We have 83 Active condos/townhouses on the market for May 2011 (56 for Mililani Town and 27 for Mililani Mauka), 52 Pending (39 for Mililani Town and 13 for Mililani Mauka), and 25 sold (13 for Mililani Town and 12 for Mililani Mauka) . Average sales price of $ 271,492 a significant increase from the past month of $243,968 and down from a year ago at $290,791. Average days on market for May 2011 -DOM was 52 days.

Needles to say, our Mililani Condo Townhouse and Home Sales have gained some ground since last month and moving back up since a year ago.

Buyers: Waiting for prices to drop and taking a chance on interest rates increasing will still net a monthly mortgage payment that could be significantly higher and lose that home you really love. It all depends on your circumstances.

VA (for military and vets) and FHA loans are still great loans and there are still strong lending institutions available with your great credit and/or a % down payment.

Sellers: Be realistic and listen to the advice of your Realtor® regarding pricing and their expert opinion when negotiating and you will get your property sold. It may take a little time but it will get sold! Call me for a Comlimentary Property Evaluation!