4th Quarter 2018
Aloha
and welcome to The Quarterly Luxury Market Report from List Sotheby’s International Realty, where we take a closer look at the most recent real estate activity here on Oahu. Our report breaks the Oahu luxury home market into four singlefamily home and two condominium price segments. Single-family home sales for Q4 2018 priced from $1 to $2 million decreased 4.7% compared to Q4 2017, with 205 homes sold. Months’ supply of inventory dropped 18.1% compared to last year at this time to 6.0 months. For single-family homes in the $2 to $3 million range, sales decreased by 4.3% to 22 homes sold, nearly even with the mark of 23 for both Q4 2017 and Q4 2016. Months’ supply of inventory decreased 13.8% to 11.8 months for the quarter. Single-family home sales priced from $3 to $5 million decreased by 6.7% compared to last year to 14 homes sold, closely resembling
the 15 homes sold in Q4 2017 and Q4 2016. Months’ supply of inventory had a year-over-year decrease of 30.6% to 18.3 months, which was approximately the same value and percentage change as last quarter. Five single-family homes sold at or above $5 million in Q4 2018, including three East Oahu homes and two Windward Oahu homes. The top sale was at $15,845,000 for an oceanfront residence in Aina Haina. As for condominiums, five units closed in the fourth quarter at or above $5 million. Three units closed at Park Lane, including the highest sale this quarter at $23,500,000. Sales in the $800 thousand to $1 million range for Q4 2018 were down 48.4% compared to Q4 2017. The 49 closed sales landed firmly behind last year’s 95 sales. Months’ supply of inventory was up 39.1% to 7.1 months. Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through July 2018.
2017
#
$
$53,810,900
JAPAN
82
$111,518,829
JAPAN
10
$14,214,165
2018
#
$
JAPAN
38
2016
#
$
2015
#
$
135
$203,375,491
JAPAN
31
$43,456,250
CANADA
24
$31,257,950
CHINA
CANADA
8
$10,419,000
HONG KONG
4
$5,183,725
KOREA
3
$3,895,000
KOREA
3
$4,430,000
CHINA
6
$8,275,100
CANADA
4
$4,643,750
GUAM
2
$2,915,833
TAIWAN
3
$3,466,758
KOREA
3
$6,118,900
CHINA
3
$3,795,000
SWITZERLAND
1
$1,585,000
CANADA
2
$2,875,000
HONG KONG
4
$5,241,800
KOREA
2
$2,370,000
2018
#
$
2017
#
$
2016
#
$
2015
#
$
JAPAN
36
$143,284,200
JAPAN
63
$268,891,006
JAPAN
78
$333,303,959
JAPAN
18
$50,565,500
CANADA
17
$76,212,721
HONG KONG
11
$66,957,353
HONG KONG
6
$22,209,744
CHINA
2
$7,400,000
KOREA
3
$11,228,800
SINGAPORE
7
$33,980,786
CHINA
5
$20,949,835
HONG KONG
3
$7,340,000
SINGAPORE
1
$16,250,000
CHINA
4
$16,244,754
SINGAPORE
4
$14,649,871
CANADA
2
$6,183,750
HONG KONG
1
$6,547,000
KOREA
5
$15,740,000
AUSTRALIA
2
$11,627,100
HONG KONG
1
$2,350,000
$2 MILLION +
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
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SALES ACTIVITY SINGLE-FAMILY
CONDO
Year
$1 - 2 Million
$2 - 3 Million
$3 - 5 Million
$5 Million +
$800,000 $1 Million
$1 Million +
2013
471
64
32
14
120
150
2014
496
100
46
16
165
182
2015
608
84
43
18
213
164
2016
710
99
37
16
242
336
2017
795
111
51
14
319
662
2018
848
96
46
28
285
349
2013
$1.28
$2.35
$3.48
$9.00
$0.88
$1.31
2014
$1.26
$2.30
$3.86
$6.40
$0.88
$1.43
2015
$1.28
$2.37
$3.50
$7.95
$0.88
$1.32
2016
$1.25
$2.30
$3.65
$6.57
$0.87
$1.70
2017
$1.25
$2.37
$3.55
$6.59
$0.88
$1.78
2018
$1.26
$2.36
$3.66
$7.35
$0.89
$1.55
Q4 2013
7.6
17.0
12.5
24.2
7.1
9.2
Q4 2014
8.2
11.1
24.1
20.4
7.7
14.2
Q4 2015
7.1
12.3
16.7
35.5
7.5
13.8
Q4 2016
7.6
13.8
27.5
31.0
8.2
17.5
Q4 2017
7.3
13.6
26.4
32.5
5.8
10.1
Q4 2018
6.0
11.8
18.3
24.1
7.1
12.5
Metric
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO $1 Million +
HISTORICAL GRAPH Q4 2015
Q4 2016
Q4 2017
Q4 2018
Q4 2016
Q4 2017
Q4 2018
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM $1 Million +
HISTORICAL GRAPH Q4 2015
Closed Sales Median Sales Price Months Supply of Inventory
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
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Continued from Page 1
Sales for condos priced at $1 million and higher decreased by 79.5% compared to last year at this time, representing a steep drop from 303 sales during Q4 2017 to 62 during Q4 2018. Months’ supply of inventory increased by 109.8% compared to Q4 2017, rising to 12.5 months. Remember that every home and situation is unique. For specific guidance with your current or future home, visit listsothebysrealty.com. That’s the Oahu Quarterly Luxury Market Report for this quarter. Check back soon for the latest. Sign up for our monthly market newsletter and more at: www.ListSothebysRealty.com or www.ListHawaii-mls.com
OAHU LUXURY NEIGHBORHOOD DETAIL Neighborhoods
2018 Median Sales Price
THROUGH FOURTH QUARTER 2018
2017 Median Sales Price
2016 Median Sales Price
2015 Median Sales Price
2014 Median Sales Price
2013 Median Sales Price
Aina Haina Beach
$10,772,500
$1,400,000
$1,200,000
$1,395,000
$2,700,000
$900,000
Beachside
$2,800,000
$2,094,000
$2,537,500
$2,217,500
$1,922,500
$1,807,500
Black Point
$2,500,000
–
$2,175,000
$3,350,000
$1,800,000
$6,200,000
Diamond Head
$2,990,000
$2,375,000
$3,200,000
$2,875,000
$2,288,888
$2,200,000
Dowsett
$1,745,000
$1,622,500
$1,350,000
$1,255,000
$1,333,000
$1,015,000
Hawaii Loa Ridge
$2,175,000
$2,430,000
$2,200,000
$2,100,000
$2,540,000
$1,946,500
Hillcrest
$1,272,500
$1,269,000
$1,050,000
$1,061,000
$1,000,000
$1,200,000
Kahala Area
$2,600,000
$2,435,000
$2,648,050
$2,200,000
$2,200,000
$1,940,000
Kamehame Ridge
$1,750,000
$1,114,000
$1,587,500
$1,152,500
$830,000
$1,268,888
Koko Kai
$2,025,000
$2,660,000
$2,041,500
$2,425,000
$2,520,000
$1,990,000
Lanikai
$3,200,000
$2,297,826
$2,272,500
$1,807,500
$2,745,750
$1,665,000
Makiki Heights
$1,125,000
$1,393,000
$1,360,000
$1,575,000
$1,590,000
$1,125,000
Manoa Area
$1,262,500
$1,279,500
$1,180,000
$1,214,617
$999,000
$1,150,000
Manoa-Woodlawn
$1,312,500
$1,288,000
$1,245,500
$1,134,750
$1,126,500
$1,049,500
Maunalani Heights
$1,276,500
$1,295,000
$1,282,000
$1,100,000
$981,500
$1,150,000
Napali Haweo
$1,710,000
$1,900,000
$1,445,000
$1,650,000
$1,660,000
$1,670,000
Niu Beach
$1,325,000
$4,300,000
$2,200,000
$3,420,000
$2,408,000
$4,050,000
$889,500
$755,000
$750,000
$747,500
$637,000
$595,000
North Shore Pacific Heights
$1,140,000
$968,000
$1,002,260
$999,000
$1,499,000
$752,500
Paiko Lagoon
$3,344,000
$3,327,500
$1,000,000
$1,155,000
$2,400,000
$1,050,000
Portlock
$1,525,000
$2,650,000
$2,332,500
$2,700,000
–
$2,875,000
Puupanini
$1,487,500
$3,889,000
$1,025,000
$998,500
$1,299,000
$872,000
Tantalus
$1,326,000
$1,110,000
$1,262,500
$1,700,000
$1,050,000
$1,108,000
Triangle
$1,400,000
$835,000
$1,465,000
$1,312,500
$1,225,000
$1,215,000
Waialae Golf Course
$3,197,500
$2,510,000
$1,999,999
$2,410,000
$2,125,000
$3,350,000
Waialae Iki
$1,725,000
$1,662,500
$1,667,500
$1,630,000
$1,625,000
$1,487,500
Waialae Nui Ridge
$1,525,000
$1,400,000
$1,525,000
$1,362,500
$1,248,888
$1,220,000
Wailupe Area
$2,775,000
$2,500,000
$2,100,000
$1,770,000
$2,200,000
$1,775,000
dash = no sales in the time period
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
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LIST Sotheby’s International Realty 4211 Waialae Avenue, Suite 100 | Honolulu, HI 96816 (808) 735-2411
ARTFULLY UNITING EXTRAORDINARY HOMES WITH EXTRAORDINARY LIVES®
SALES ACTIVITY CONDOMINIUM
SINGLE FAMILY $1 - $2 MILLION
710
795
848
100
99
111
496
319
96
84
608 471
$800 THOUSAND - $1 MILLION
$2 - $3 MILLION
213
64
285
242
165 120
2013
+5.3%
+22.6%
+16.8%
+12.0%
2014
2015
2016
2017
2018
$3 - $5 MILLION
46
+56.3%
-16.0%
+17.9%
+12.1%
2014
2015
2016
2017
2013
2018
$5 MILLION +
51 43
-6.5%
-14.0%
+37.8%
2014
2015
2016
2017
+13.6%
+31.8%
2015
2016
2017
2018
662
46 14
+43.8%
+29.1%
2014
$1 MILLION +
16
18
16
2018
2013
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
+14.3%
+12.5%
-11.1%
-12.5%
2014
2015
2016
2017
349
336
14 150
2013
+37.5%
28
37
32
2013
2018
2013
182
164
+21.3%
-9.9%
+104.9%
+97.0%
2014
2015
2016
2017
2018
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