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 $595K to $2.09M with a median price of $1.04M, median interior of 2,355sf and median land size of 5,854sf.
The median price of houses sold in Palolo year-to-date (Jan - Nov 20, 2017) is $810K. 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).
39 houses have sold in Palolo year-to-date (Jan - Nov 20, 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 - Nov 20, 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 16 days October 2017 compared to 43 days October 2016.
The ratio of Palolo houses sales price vs list price were 100.7% October 2017 compared to 100.1% October 2016.
6 Palolo houses were sold October 2017 compared to 4 houses sold October 2016.
The total dollar volume of houses currently for sale in Palolo is $13.06M and the sold dollar volume year-to-date (Jan - Nov 20, 2017) is $32.86M. 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 2443 Jasmine Street, sold for $810K on Nov 14, 2017. It had 768sf of interior. 9 other recent sales include: 2555 Lai Road (1,472sf) sold for $710K on 11/3/2017. 2519 Lai Road (977sf) sold for $589K on 10/24/2017. 1843 10th Avenue (1,920sf) sold for $825K on 10/23/2017. 3279-A Kehau Place (2,065sf) sold for $875K on 10/20/2017. 3182 Holly Place (1,351sf) sold for $755K on 10/20/2017. 2442 10th Avenue (1,456sf) sold for $1M on 10/17/2017. 3279 Kehau Place (1,523sf) sold for $875K on 10/16/2017. 2207 Helo Place (852sf) sold for $760K on 9/29/2017. 1746/1748 9th Avenue (5,688sf) sold for $1.7M on 9/27/2017.
2 of the houses have ocean views, 1 has Diamond Head views and 7 have mountain views.