Wow, the ACS % rate continues to be high which now tells us that 79% of available inventory for sale is in escrow with Just Accepted Offers. Demand is high and the inventory is slim. This is what drives up the ACS % rate.
Sales are way up from 12 months ago. Thank goodness.
The Average Sold Price is slightly up but this is primarily because of a little bit of ‘trading up’ into higher price points by buyers.
It is still taking a considerable amount of time to see Condo or Town Home in Mililani Mauka, almost 3 months and increasing.
The amount of New Listings continues to slide and this coupled with the demand for Mililani Mauka Condos is what is driving down the inventory.
Like every where else on the Island, buyers prefer to purchase in the lower price points.
I believe that both Sellers and their Agents are not watching what is happening here as we can see from above and later below with the Pie Charts that buyers are purchasing in the lowest price ranges and yet the New Listings coming onto the market are coming in the higher price points.
See what I mean about lower price ranges that buyers prefer?
That is it for the Mililani Mauka Condo Report. I hope you that have enjoyed it and learned something. If you have any questions please do not hesitate to contact me.
Mike Gallagher
Broker in Charge, RE/MAX Honolulu
Ethics Complaints Review Committee Member, Honolulu Board of Realtors
808-384-9015
Mikeg@hawaii.rr.com
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