Palolo real estate takes up the entire valley that's cradled between St. Louis Heights on the west and Wilhelmina Rise on the east, with Waialae Ave as its southern border. Like other valleys in Hawaii, the trip from the entrance to the back areas ends you up in a different climate than the one where you started.
Homes in Palolo's far end get noticeably more rain, often on a daily basis, as well as cooler temperatures. The rest of the valley gets plenty of precipitation as well, which explains the flourishing green growth you can't help noticing. Plant lovers will find this a superb place to settle.
Generally, Palalo houses are more affordable than any of the other neighborhoods nearby, which makes it an attractive option for those with lower budgets. Still, it does claim more than a few properties that are worth well over the 7 figure mark.
The average residence, across the board, is a plantation style house, often with single wall construction. This is due to the fact that so many of these structure have remained since that era, all these decades later. Most families tend to stay here for a long time.
Families is the key word as there is a very large percentage of houses with 3, 4 and even 5+ bedrooms here. Perfect for parents with a lot of children or for the many multi-generational households we have in Hawaii.
Some of the most striking Palolo homes are those that line, and even cling to, the slopes on each side. These aren't the most ideal conditions for those with mobility issues or for just loading in the groceries. In exchange, however, those residents get views that take in not only much of the valley and often Diamond Head, some can also see the Pacific from their perch. Not a bad tradeoff.
The locals can easily drive into Kaimuki, Kapahulu or down the way to Kahala and shop or dine at all of their many options. Even Waikiki's beaches are in reach whenever sun or surf is calling you. Add all that to the affordability and you can understand why more and more are flocking to Palolo.
The price range of houses for sale in Palolo is $575K to $2.19M with a median price of $894K, median interior of 1,721sf and median land size of 5,218sf.
The median price of houses sold in Palolo year-to-date (Jan - Sep 22, 2017) is $775K. In previous years it was $770K (2016), $776K (2015), $702K (2014), $700K (2013), $640K (2012), $570K (2011), $590K (2010), $560K (2009), $597K (2008), $565K (2007), $642K (2006), $560K (2005), $465K (2004), $385K (2003).
29 houses have sold in Palolo year-to-date (Jan - Sep 22, 2017). In previous years, the total number of houses sold were 52 (2016), 46 (2015), 46 (2014), 51 (2013), 45 (2012), 38 (2011), 43 (2010), 36 (2009), 36 (2008), 33 (2007), 54 (2006), 59 (2005), 86 (2004), 53 (2003).
On average Palolo houses were on the market for 31 days before they were sold (Jan - Sep 22, 2017). In previous years it was 104 days (2016), 88 days (2015), 72 days (2014), 64 days (2013), 62 days (2012), 63 days (2011), 57 days (2010), 61 days (2009), 75 days (2008), 63 days (2007), 61 days (2006), 55 days (2005), 59 days (2004), 60 days (2003).
The average days on market for Palolo houses before sold were 10 days August 2017 compared to 71 days August 2016.
The ratio of Palolo houses sales price vs list price were 105.7% August 2017 compared to 100.7% August 2016.
5 Palolo houses were sold August 2017 compared to 4 houses sold August 2016.
The total dollar volume of houses currently for sale in Palolo is $17M and the sold dollar volume year-to-date (Jan - Sep 22, 2017) is $23.96M. In previous years sold dollar volume was $41.76M (2016), $36.98M (2015), $35.18M (2014), $36.32M (2013), $28.37M (2012), $22.47M (2011), $24.86M (2010), $20.65M (2009), $22.41M (2008), $19.24M (2007), $36.98M (2006), $35.04M (2005), $40.35M (2004), $21.61M (2003).
The most recent sale in Palolo was a house located at 2394 10th Ave Place, sold for $669K on Sep 15, 2017. It had 1080sf of interior. 9 other recent sales include: 1833A 9th Avenue (2,439sf) sold for $1.18M on 9/12/2017. 3514 Makanui Place (1,782sf) sold for $810K on 8/15/2017. 3453 Kaau Street (560sf) sold for $950K on 8/15/2017. 3555 Makanui Place (1,232sf) sold for $820K on 8/11/2017. 2529 Gardenia Street (1,206sf) sold for $918K on 8/11/2017. 1958 10th Avenue (1,092sf) sold for $775K on 8/2/2017. 1431 10th Avenue (660sf) sold for $710K on 7/17/2017. 1635 Palolo Avenue (2,176sf) sold for $1.08M on 7/14/2017. 2665 Gardenia Street (1,430sf) sold for $695K on 7/14/2017.
4 of the houses have ocean views, 3 have Diamond Head views and 12 have mountain views.