Mililani is located in the central O`ahu area and is defined by the Honolulu Board of REALTORS® for research purposes as Tax Map Key Zone 9, Section 5 and part of Section 4. Mililani was developed by Castle & Cooke .

In 2007, there were reported sales of 456 condominiums in Mililani through the Board’s Multiple Listing Service (MLS) computer, a decline of 13.0% from the prior year. During the month of December, 37 of these sales took place.

The median price paid for a Mililani condominium was $308,500 in 2007, which represents a decrease of 2.1% from the price in 2006. At the end of the year, in December, the median price was $315,000, compared to $305,000 at the same time in 2006. The highest price paid in 2007 for a condo in this area was $665,000.

The speed of sales in Mililani was 33 days, which was among the fastest for any condominium area on the island. The sales speed is the time that elapses from when the listing was made available in the MLS until a sales agreement was reached and excludes escrow time.

For further information about how your specific neighborhood performed, check out the Honolulu Board of REALTORS® website www.HiCentral.com or contact a REALTOR® in your area.

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Fed Cuts Rates

The Federal Reserve chopped interest rates by three-quarters of a percent this morning, the largest cut in 23 years! Further, this rate decrease was done before the regular meeting at the end of next week, on January 30-31. More on this move by the Fed in another blog.

This entry was posted on Tuesday, January 22nd, 2008 at 8:14 am and is filed under Island Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.