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Mililani HI Real Estate Market

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Well it’s been over a year since we’ve last on a real estate market report from Mililani Hawaii so let’s discuss the home prices, the current real estate market and any trends happening over the last several months.

In Mililani in general there are roughly 150 homes for sale at any given time. Currently the average list price is about $550,000 and the median sales price is $424,000. This figure is up nearly 20% over last year at this time or $68,000. The average price per square foot is actually about the same at $373 but the number of sales is down from last year.Mililani HI Real Estate Market Report

Read more: Mililani is the Best Place to Live on Oahu

The total inventory according to Movoto.com shows the median list price is $439,000. Days on the market is remarkably low at just 38 with the median house size of being around 1350 ft.². For condominiums and townhomes the median list price is $330,000 with just 8% of these being distressed, foreclosed or bank owned homes. The days on the market for condominiums is extremely similar to single-family homes at 37 days. The median condominium size is currently 950 ft.² or $324 per square foot.

Since the peak in 2006 we seen ups and downs over the market over the last eight years but in 2014 we hit one of the highest median sales prices and nearly $500,000. Through summer and fall of 2014 we dropped below $400,000 for a median sales price and as we head into 2015 we are on track for a profitable year of up to $500,000 to the median sales price. The number of sales is one of the most surprising things that have dropped over the last few years. The lowest over the last 15 years was in 2009 until 2014. This is primarily due to the lack of new subdivisions and developments throughout the Mililani region. Most homes are existing and there are just not that many homes for sale at any given time which naturally drives up the median and average listing prices.

Read more: Parks of Mililani

According to Trulia.com, a one-bedroom have an average price of $211,000, a two bedroom is priced at about $275,000 and a three bedroom at $520,000, and incredible jump from the two-bedroom.

If you’d like to know more about the homes and real estate currently for sale in Mililani Hawaii or surrounding communities, towns and villages feel free to give me a call at any time. If you’d like to know what your Mililani home is currently worth to free to contact me via my website with some basic information and I would be happy to get back with you as soon as possible.

Image by Bill Sodeman Flickr

Low Inventory and High Prices Mean Bittersweet News for Sellers

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Low Inventory and High Prices Mean Bittersweet News for Sellers

In April, 2014, “the number of sales for Oahu homes fell last month and prices edged higher as inventory remains tight.” This is largely due to low inventory so naturally as the inventory falls away those properties that are listed will continue to go making the balance for supply and demand skewed.

The problem with this is that sellers that need to sell and purchase a home on the island are finding themselves a little fearful to sell. What happens if we can’t find a home to buy?Low Inventory and High Prices Mean Bittersweet News for Sellers

Related Post: 3 Buyer Incentives that Work

According to Honolulu Magazine and their real estate report, sales of single-family homes dropped 11.8% last month compared April 2013. Condo sales slipped by 2.6%. There were about 245 homes and 445 condos sold during April compared with 280 homes and 457 in the same month just to year ago.

Prices continue to go upward and the median price in April increased by 3.7% to $648,000. Condominiums increased by 6% from March 2013 to $355,000.

The president of the Honolulu Board of Realtors says that she is optimistic about the direction of the housing market and even though we are one of the highest priced markets in all of the nation, people are still moving this direction or homebuyers are downsizing or upgrading to larger properties.

We are seeing some sellers nervous about selling right now based on the fact that they may not be able to find another home in their price range, so, we are suggesting that they look for homes first and then put their home on the market if they’ve done everything correctly in order to sell, stage the home properly, and priced it right.

Related Post: Where to start in financing a home

The market is stable because both homes and condominiums rose from the previous year and with low number of days on the market is a positive indicator that buyer demand is strong. [Source]

If you’re concerned about finding a home after selling give us a call for the best suggestions and advice. We may recommend certain tactics to get your home sold quickly after finding the right property to buy.

 

Mililani Oahu Real Estate Report April 2014

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Local Market Update For Single Family Homes in Oahu

Mililani – the number of new listings is down 57% over last April, 2013. The current new listing for April was 15 versus last year which was 35. Closed sales were down 24% but the median sales price was up 11% over last year. The current median sales price for Mililani is $665,000. 98% of sales saw the original price received. The current days on market were just 15 which is about 7% higher than it was last year. The inventory is down 17% at about 40 single-family homes on the market.

Condominium sales for Mililani were up 16% over last April and were down 28% for closed sales. The median condominium price was up 26% $385,000 within nearly 100% of original price received. Dave on the market were only nine which is exactly what it was last April. Inventory is up 44% at 69 condos for sale.

For more details on the markets for Mililani and other Oahu towns please view the LMU_Apr2014

Mililani Real Estate Market Report

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Mililani is one of the more popular locations for permanent and temporary residents of Oahu. It’s located near the center of the island and has two distinct places; Mililani Town and Mililani Mauka. Together they have a population of about 40,000 residents. The town is spread out on either side of Highway H2 just north of Waipio and about 20 minutes from Honolulu.Mililani real estate market report

Currently there are 138 homes and properties for sale in Mililani price from $110,000-$1,349,000, all for single-family homes, lives and properties. The median list price is roughly $330,000. The average list price is $497,000 which is up $2400 over last week, and the median sales price is at $220,000.

Of those homes for sale about 46 are foreclosures and bank owned homes were 92 are homes for sale by owner/sellers.

Many homes in Mililani are perfect for military relocations since the Hickman Air Force Base is so close.

Most of the homes in  Mililani were built between 2000 and 2013 however there are some older homes in the 1970s that have been remodeled. These may be found of the mountains of bit away from the center of town.

The main area of Mililani offers at dozens of parks and beautiful recreational facilities throughout the community. With neighborhood parks, the Mililani golf club, soccer fields and recreational facilities, those that choose to live in Mililani often stay and play here as well. The Mililani marketplace is also located along Meheula Pkwy, which provides all the amenities and necessities one would need on a daily basis. Those that decide to travel fee Highway H2 into downtown Honolulu or north up to the golf course and the Air Force Base find that Mililani makes a great central location.

For more information on where to live on Oahu and the Mililani real estate market, feel free to browse our website for listings or call for a more personal touch to your home buying or selling experience. image by google maps

Oahu Real Estate Market in the Winter

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Oahu Real Estate Market in the Winter

Winter is one of the most beautiful seasons in Hawaii. (Meaning, we don’t get a lot of the picture below) The Islands see a lot of tourism in the winter months. People enjoy the warm weather and beautiful tropical atmosphere that is so different from home. Winter in Hawaii is so amazing that many people fall in love and look into the possibility of moving to Hawaii or buying a vacation home so they can come back annually.Oahu Real Estate Market in the Winter

Unlike the rest of the country Hawaii’s real estate market is at its peak in the winter months. According to research by realestate.aol.com most online real estate searches in Hawaii happen in January while the rest of the country’s real estate markets are a bit slow.

Even though the market is at its peak in winter it may deter some from buying when they find out this news thinking a better time to get a deal on a home is in the off season. This is not necessarily true. Many times sellers will drop the price of their home in the winter months. Buyers are still able to find a great deal on a home in the winter on Oahu. Some sellers who are looking to sell as quickly as possible know this is a great time to discount their home as many people are looking to purchase.

With so many interested buyers it is a great time to sell a home. Some buyers may easily give up knowing there is more competition during this time but the determined buyers who have fallen in love with Hawaiian paradise are going stick around until they find that perfect home to relocate or vacation yearly.

Buyers and sellers alike have a lot to benefit from in Hawaii’s peak winter real estate season. If you are interested in buying or selling a home contact a local real estate agent to help you find the best strategies for buying or selling a home on Oahu.

Kailua Oahu Real Estate Market

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Kailua Oahu Real Estate Market

Kailua is located on Oahu’s Eastern shore just minutes from downtown Honolulu and just East of Kaneohe. This is a popular place to call home with a variety of home prices, waterfront property, and its close to the MCBH.Kailua Oahu Real Estate Market

Currently there are 158 homes for sale within Kailua priced from $43,000 for foreclosure condos and townhomes and $98,000 for the lowest priced single-family home up to $13,400,000 for a six bedroom, 12,000 square-foot single-family home on Mokulua Dr.  of those 158 homes 55 are foreclosures and 103 are owner/sellers.

The average listing price for Kailua is currently $2,133,000 which is up nearly $120,000 over last month. The median sales price is currently $828,000 which is up 17.5% or $123,000 over last year at this time. Home prices, sales prices and listing prices have all increased over the last 6 to 8 months and dramatically over the last year. The Oahu real estate market has come back with a vengeance and prices are flying off the market, even luxury homes.

The median sales price has slowly been trickling up and even the drop in 2006 quickly rebounded by 2007. We are now seeing the highest median sales price in history at $828,000. One dramatic drop has been the number of sales. Leveling out throughout 2012 and at the beginning of 2013 at 100 homes sold per month we have now dropped to about 16 to 20 home sold per month with in the Kailua area. Does this mean that buyers are not buying? Hardly! Since median sales prices are through the roof, the amount of homes on the market simply is not keeping up with buyers. Homes are listing anywhere from 10 to 40 days on the market if priced correctly.

For more information on the Kailua real estate market, homes and properties for sale call our office anytime. We specialize in properties, oceanfront homes on Oahu and luxury houses in Kailua.

More on Homes on Oahu

Honolulu real estate market report July 2013

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Kailua Real Estate Specialists

Help-U-Sell® Hawaii assists sellers and buyers in coming together over the right home and right price. With up to date listings, current market conditions and local information we are your full service source for all Oahu real estate.

We want your Hawaii real estate experience to be a stress-free and smooth transaction whether you are buying or selling Oahu Homes or properties. As your Help-U-Sell® Oahu Realtor our goal is your goals and we make every effort to buy or sell your property on your terms and your price.

We service the entire island of Oahu in the Hawaiian Islands for buyers and sellers including  but not limitted to Aiea, Ewa Beach, Hawaii Kai, Honolulu, Makakilo, Mililani Mauka, Waikele and Waipio Gentry.

If you would like more information about our Help-U-Sell® Oahu service please don’t hesitate to call us at (808) 864 – 3545 or fill out our online contact form.  We look forward to speaking with you about your Hawaii real estate needs!

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About Hawaii Realty Pro

Hawaii Real Estate SpecialistsOahu real estate agent Maureen Fukumoto

Maureen and her team assists sellers and buyers in coming together over the right home and right price. With up to date listings, current market conditions and local information we are your full service source for all Oahu real estate.

For decades I have been assisting home owners sell their property quickly at economically. With licensed agents and brokers we can provide the same top quality service you would get from a fully commissioned Realtor or agent. We provide access to all the marketing and advertising tools needed to list and sell your Oahu Property.