Real estate prices continue to increase. Are you surprised? Probably not.
According to the Honolulu Board of REALTORS, Mililani leads Oahu neighbors on home sales. According to data from the MLS, sales increased by 42 percent in Mililani to 17 homes sold in January, compared to 12 sold last year. In addition the median price for single-family homes in Mililani increased to 13 percent to $810,000, from $720,000 during the same month last year.
For condos in Mililani, sales increased by 22 percent to 28 condos sold in January, compared to 22 condos sold last year. For condos, the median price increased 27 percent to $425,000, from $334,800 from the same time last year.
Why are buyers interested in Mililani? Here are two possible reasons:
There Are Different Types Of Homes...At Different Prices
When you drive through Mililani, you'll notice there are single-family detached homes and condos. There are single level homes. There are split level homes. There are homes that are old and homes that are new.
In addition, prospective buyers are attracted to Mililani because of the different price points. There are 1-bed condos, there are homes with a list price of over a $1 million dollars, and there is a condo designated for senior living.
Mililani Town Association (MTA)
The homes in Mililani belong to Mililani Town Association. Some of the benefits of a homeowners association are:
- Amenties
- Community events
- Deters detrimental members of the community (house rules)
- Uniformity in how the homes look
If you're not tied to the "town life," Mililani could be a great community to live in. Would you be willing to drive in traffic in order to own a home?
-RO