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 $574K to $1.72M with a median price of $890K, median interior of 2,028sf and median land size of 6,283sf.
The median price of houses sold in Palolo year-to-date (Jan - May 25, 2017) is $755K. 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).
12 houses have sold in Palolo year-to-date (Jan - May 25, 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 40 days before they were sold (Jan - May 25, 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 53 days April 2017 compared to 122 days April 2016.
The ratio of Palolo houses sales price vs list price were 97.2% April 2017 compared to 96.1% April 2016.
5 Palolo houses were sold April 2017 compared to 3 houses sold April 2016.
The total dollar volume of houses currently for sale in Palolo is $16.84M and the sold dollar volume year-to-date (Jan - May 25, 2017) is $8.91M. 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 , sold for $458K on May 19, 2017. It had 510sf of interior. 9 other recent sales include: 3516 Launa Place (752sf) sold for $527K on 4/28/2017. 3294 Palolo Terrace Place (924sf) sold for $735K on 4/24/2017. 2333 Palolo Avenue (3,631sf) sold for $1.03M on 4/17/2017. 1460 Pukele Avenue (1,220sf) sold for $760K on 4/10/2017. (2,120sf) sold for $1M on 4/7/2017. 2329 Orchid Street (795sf) sold for $750K on 3/21/2017. 2445 10th Avenue (1,368sf) sold for $835K on 3/6/2017. 1823 10th Avenue (1,202sf) sold for $500K on 2/24/2017. 1720E Palolo Avenue (1,558sf) sold for $820K on 2/15/2017.
4 of the houses have ocean views, 1 has Diamond Head views and 13 have mountain views.