Mililani Condos Homes | Mililani Real Estate Market Report June 2009 | Hawaii VA Loan

Mililani Real Estate and Housing Market Report for June 2009

Let’s start with the Mililani Condo Statistics for June 2009: In May of 2009 (last month) there were 64 Active condos/townhouses on the market, 29 in contract and 20 sold. Looks like our Mililani Condo/Townhouse market is picking up with more units with accepted contracts and going through the transaction process. Sales Prices ranged from $160,000 (1 bedroom condo) to $495,00 (2 bdrm luxury townhouse).

Mililani Single Family Home Market Report for June 2009: Let’s compare to May of 2009 (last month). We had 36 Active Listings for May 2009 with 11 in contract and 24 sold. It appears that our Mililani Single Family Home activity is picking up with more in contract for June 2009 although less closed transactions. Sales Prices Ranged from $500,000 (2 bedrooms) to $830,000 (4 bedrooms).

We can attibute the slower closing process to appraisals taking longer than usual to process…especially with Hawaii VA Loan Appraisals. As it stands, Mililani is centrally located on the island of Oahu (which is Honolulu County) and central to all Hawaii Military Bases.

The volume of Hawaii VA Home Loan Home Buying is on the rise (as is refinancing VA Loans) and therefore slowing the Hawaii VA Real Estate Transaction Process.

Another factor is that our Governor imposed a three Fridays a month furlough (with no pay) to balance the budget so of course that puts our Bureau of Conveyances behind on the recording process. Instead of the one day after funding to record it will now take two or more days.

Mililani Real Estate | Mililani Condo Market Report YTD

Mililani Condo Statistics for YTD 2009: There are 93 Active condos/townhouses on the market, 45 in contract and 130 sold for the period January to June of 2009. Looks like our Mililani Condo/Townhouse market is picking up with more units condos and accepted contracts. Sales Prices ranged from $160,000 (1 bedroom condo) to $495,00 (2 bdrm luxury townhouse).

Mililani Housing Market Numbers UP!

In 1971 my family moved to Mililani and it was in the beginning stages of a 40 year Master Planned Community development of single family homes, condos and townhouses with the first homes built in 1968.
My children went through their school years in Mililani (they’re adults now) and my mom still lives in the same house bought in 1971.
I remember when….
Miililani is centrally located to all military bases on the island and 5-10 minutes from Schofield Barracks and Wheeler Army Airfield, 20-25 minutes to Hickam AFB, Pearl Harbor Navy Base and over the H-3 to Kaneohe Marine Corp Air Station in a matter of 35-40 minutes. We have three shopping centers and seven recreation centers (five have pools) with many community activities for all ages.
Mililani is the ONLY community in Hawaii to receive the distinction of “ALL AMERICAN CITY” in 1986 and you can get more information, association docs, homeowner packets and more from our association site by clicking on the following link: MILILANI TOWN ASSOCIATION INFORMATION
Over the past few months we have had a fluctuation of sales numbers and a small decrease in sales prices but bottom line our sales numbers significantly increased in the past month.
The following market statistics show a clearer picture for the last six months:
Single Family Homes

Mililani Town up to $849k:
35 # Active, 20# In Escrow. 68# Sold, 98DOM, $544k Average Sales Price
Mililani Mauka up to $1.3 Million
2 9#Active, 24# In Escrow, 44 # Sold, 71DOM, $644,976 Average Sales Price


Mililani Town up to 450k

74# Active, 24 # In Escrow, 62 # Sold, 73 DOM, $279,000 Average Sales Price
Mililani Mauka (up to 451k)
23# Active, 26 # In Escrow, 37# Sold, 63 DOM, $326,202 Average Sales Price
*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.
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