February 2010 Market Report for Mililani Condos, Townhouses, Homes
As holds true in all neighborhoods nationwide, the local area will determine the market. On Oahu, we can pretty much gather that from neighborhood to neighborhood the sales prices will vary and so will the median and average prices. To better determine the market (particularly for your sq/ft interior, land, condition and year built), contact a Realtor® who will give you a CMA (Comparative Market Analysis)
Mililani Single Family Home Market Report February 2010: We have 51 Active Listings for January 2010, with 17 in contract and 13 sold. Mililani Single Family Home activity remains comparable with January as multiple contracts are submitted for prices lower than the previous year. Average Sales Prices were a bit lower than the previous month of $653,000; down to $618,369 and average days on market...DOM was 99 days. Compared to a year ago at this same time the sales price average was $549,075 with 108 days on the market.
Mililani Condo Statistics for February 2010: We have 72 Active condos/townhouses on the market from February 2010, 36 Pending and 11 sold. Looks like our Mililani Condo/Townhouse market slowed down a bit for the month of February. Average sales price of $314,052 is up a bit from January although one ‘luxury' townhouse sold at $498,000. Average days on market ..DOM was 99 days. Compared to a year ago at this same time the sales price average was $323,875 with 73 days on the market.
Mililani Boasts Three Shopping Centers: Mililani Town Center - 95-1249 Meheula Parkway , Mililani Shopping Center - 95-221 Kipapa Drive (where Century 21 Liberty Homes resides), and Mililani Marketplace - 94-780 Meheula Pkwy.
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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
Great job showing off market data in your area. I like how the graphs are over the photo.
Sally,
I'm sure your quality information will empower your buyers to make informed decisions regarding Mililani real estate.
Steve
Inventory levels in Mililani is about 1/2 of what we had a year ago. Prices should start climbing if these numbers hold.
We are starting to see price increases in Connecticut over last year. It looks like January/February 2009 was the bottom of the market. Mortgage rates are below 5% for conforming loans. Our inventory is also much lower than this time last year, so the price rises should continue.
Sally, good to read that prices have increased in 2010 in comparison to 2009. What do you think is the attributing factor(s) for the decrease in average sales between January to February 2010?
Leolinda: I believe due to a couple of short sales/foreclosures closing in our area.
Gail: Our inventory is LOW now compared to a year ago. I too...think that prices will rise.
Randy: I agree....Let's hope.
Steve: I hope it does help :)
Thanks Chris.
Buyers - As you can tell from Sally Cheeseman's post, she has a good grasp of what the market is. Call her if you are shopping for a home in her area.