June 2016 Local Market Neighborhood Update - Ewa and Mililani

The Honolulu Board of Realtors released the Local Market Update Report for June 2016. I have been working a lot in the Ewa and Mililani areas for the last year so I will focus on some information about those statistics.

Ewa Plain TMK 1-9-1

The Ewa Plain is a large area that has many types of properties, but most are relatively newer construction in planned development communities. In the last year, the median price of single family homes has seen an increase of 6% to $628,250 while the median price of a condo/townhouse has seen an increase of 8% to $447,500. The median sales price of single family homes in the area in June of 2006 was $552,500, about a $75,750 increase over the 10 year period. The median price of condo/townhouses in the area in June of 2006 was $295,000, about a $152,500 increase over the 10 year period. The current median price of a 3 bedroom 2 bath single family home in the area is $570,000 and a condo/townhouse is $445,000.

Mililani TMK 1-9-4 to 1-9-5

The Mililani area also is very large and comprises of older developments and a lot of newer homes in planned community developments. In the last year, the median price of a single family home has increased to $825,500, an increase of 19%. The median price of a condo/townhouse increased to $365,000, up 9%. The median price of single family homes in the area in June of 2006 was $600,000, about a $225,500 increase over the last 10 years. The median price of condo/townhouses in the area in June 2006 was $305,000, about a $60,000 over the last 10 years. The current median price of a 3 bedroom 2 bath home in the area is $608,000 and a condo/townhouse is $463,000.

If you would like statistics relating to an area of your interest, please let me know.

Honolulu Board of Realtors Released Residential Real Estate Resale Statistics for June 2016

The Honolulu Board of Realtors released the statistics for June 2016 last week. I am delayed in blogging a summary of the statistics due to a personal unexpected situation that occurred last week and we, as a family, needed time to adjust. Anyway, since the statistics have been summarized by dozens of other sources by now, I decided to do something different with them this month. Let me know what you think.

Single-Family Homes and Condos set a record median price in June 2016. That is an 8.6% increase to $760,000 for SFH and 19.8% increase to $405,500 for Condos.

Today, Sunday, June 10, there are 81 SFH open houses scheduled for open house in the MLS that fall under the median price of $760,000. These are 5 on the schedule that have a list price between $755,000 and $765,000; of those 5, 2 are already in escrow according to their MLS statuses. [Link to list]

For Condos under the median price of $405,500 that are scheduled for an open house today, the MLS shows there are 77 scheduled. These are 4 on the schedule today that have a list price between $400,000 and $410,000. All 4 are currently showing active statuses in the MLS.

To help see what buyers were able to purchase in the past 180 days at the median price, here are two lists. There were 11 SFH sales that closed at exactly $760,000 during the period and this is the link to the list. There were 18 Condo sales that closed at exactly $405,000 ($405,500 is an unusual number and there weren't any sales at that exact number) and this is the link to the list. By analyzing these lists, you are able to sort of see a variety of differences in the types/sizes of homes or apartments that can be sold or purchased at last month's median prices. You can see the asking list price versus the sold price, days on market, location and other useful details. Reports can be customized and prepared using many parameters to suite the task and if you would like assistance with a customized report, please let me know.

These maps lay out the locations of the 11 SFH sales and 18 Condo sales
that show up as having sold in the last 180 days at $760,000 for SFH and
$405,000 for Condos. Click hyper links for list details.