Mililani Townis 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 2011 in regards to our Mililani Housing Market. We’ve had ups and downs and turn around but needless to say the market may be turning back to a seller’s market soon.

Inventory is lower than a year ago and prices are slowly regaining ground. Interest rates have gone up a bit and I can safely presume that they aren’t going to be at this level in months to come.

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

Year to Date Market Report for Mililani Condos, Townhouses, Homes

Mililani Single Family Home Market Report 2011: We have 54 Active listings and 23 in contract for the first few days in January of 2012. Mililani has had about the same number of solds from 222 in 2010 with 215 single family homes sold in 2011. Sales Prices Ranged from $385,000 (2 bedroom “attached” home) to $1,010,000 (5 bedroom home) in Mililani Mauka. Average Days on the Market was 61 days for 2011 compared to 54 in 2010.

Mililani Condo Statistics for 2011: We have 54 Active condos/townhouses on the market and a promising 44 properties in contract for the first few days of 2012. We sold 250 condos in 2011 compared to 252 condos/townhouses in 2010! 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 2012 shows a promising active market with so many in contract and getting ready to close. The only difference is that the condo/townhouse listing inventory has shown a big decline at the start of this year with only 54 on the market compared to last year of 104!

For those Hawaii Home Buyers who are sitting on the fence … do the math on low prices now compounded with VERY low interest rates compared to those same prices with a higher interest rate in previous years. The math is clear, so if your current situation is in a buy mode…I’d say jump off that fence!

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Real Estate Market Report October 2011 | Mililani Condos Townhouses Homes

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.

Mililani Town and Mililani Mauka Homes, Condos and Townhouses

Mililani Single Family Homes Market Report October 2011: We have 46 Active Listings for October 2011 (33 for Mililani Town and 24 Mililani Mauka), with 14 in contract (9 for Mililani Town and 13 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 lower at $600,816 than the previous month of $730,100 and down slightly from $641,150 a year ago. Average days on market…DOM was 61 days.

Mililani Condo Statistics for October 2011: We have 58 Active condos/townhouses on the market from October 2011 (26 for Mililani Town and 22 for Mililani Mauka), 38 Pending (26 for Mililani Town and 13 for Mililani Mauka), and 19 sold (14 for Mililani Town and 5 for Mililani Mauka) .

Mililani Condo activity sales numbers are higher than the previous months. Average sales price of $257,828 a slight decrease from September 2011 of $259,575 and down from a year ago at $271,382. Average days on market for October 2011 -DOM was 95 days.

Needles to say, our Mililani Condo Townhouse and Home Sales remains stable and will continue to fluctuate month to month as we gain some ground. 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!

Still moving, a bit brighter outlook this month and still selling in Mililani!

To better determine particulars for your market (with criteria including your sq/ft interior, land, condition and year built), Contact Celeste “Sally” Cheeseman @ 808-375-1404 or sally@hawaiihomesmarket.com for a Complimentary Property Valuation and Consultation!

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