Aloha and welcome to The Quarterly Aloha and welcome to The Quarterly Luxury Market Report from LIST Luxury Market Report Realty, from LIST Sotheby’s International where Sotheby’s International Realty, where we take a closer look at the most we recent take a real closer lookactivity at the here moston estate recent real estate activity here on Oahu. Oahu. Our report breaks the Oahu luxury Our home reportmarket breaksinto the four Oahusingle-famluxury home marketandinto single-family home two four condominium price ily home and two condominium price segments. segments. As of Q3, single-family home sales for Q3, Q3 2016 priced fromhome $1 to sales $2 milAs of single-family lion are down by 13.3% compared for Q3 2016 priced from $1 to $2 mil-to sales, with 527 homes sold. lion all are2015 down by 13.3% compared to Nonetheless, the year-to-date all 2015 sales, with 527 homes sales sold. in this category still exceeds all homes Nonetheless, the year-to-date sales in sold in this segment in 2014. This price this category still exceeds all homes has 6.9 months’ supply of invensoldpoint in this segment in 2014. This price tory, a decrease of 4.7% compared to point has 6.9 months’ supply of invenlast year at this time. tory, a decrease of 4.7% compared to last year at this time.
For single-family homes in the $2 to For single-family homes in the $2 to $3 million range, sales decreased by $39.5% million to 76range, homessales sold, decreased down from by 84 9.5% homesand sold, down fromthan 84 for to all 76 of 2015, 24.0% fewer forthose all of 2015, and 24.0% fewer than sold in 2014. Months’ supply of those sold in 2014. Months’ supply of inventory was down by 10.6% to 12.7 inventory wasthe down by 10.6% 12.7 months for quarter, whichtomight months for the quarter, which might help to explain the lower sales count. help to explain the lower sales count. Single-family homes priced from $3 to Single-family homes priced from $3 to $5 million decreased by 48.8% comto last year, with homescomsold $5pared million decreased by2248.8% so fartothis versus all pared lastyear year, with 43 22 homes homesinsold Months’ supply of inventory sooffar2015. this year versus 43 homes in all by 14.1% to 28.0 ofincreased 2015. Months’ supply ofmonths. inventory increased by 14.1% to 28.0 months. In the third quarter of 2016, there sales quarter over $5 million for athere total Inwere the 3third of 2016, of 14 year to date, including homes were 3 sales over $5 million for a total and Kahala ofin14the yearDiamond to date,Head including homes neighborhoods. in the Diamond Head and Kahala neighborhoods.
Before we look at luxury condos, here’s Before we look at luxury condos, here’s a quick view of Oahu’s overall market a quick view of Oahu’s overallby market for September 2016 as reported the for September 2016 as reported by the Honolulu Board of REALTORS®.
Honolulu Board of REALTORS®.
Over the first nine months of 2016, Over single-family the first nine months 2,723 homes were of sold2016, on 2,723 single-family homes were Oahu, up 4.8% compared to the sold sameon Oahu, last up 4.8% compared theprice same period year. The medianto sales period last year.homes The median price for single-family closedsales Q3 2016 for$732,000, single-family homes at up 5.2% overclosed 2015. Q3 2016
at $732,000, up 5.2% over 2015.
Meanwhile, 4,133 condominiums were sold in the first months of this Meanwhile, 4,133nine condominiums were year, an increase of 9.0%, with the sold in the first nine months of this median price for condominiums year, ansales increase of 9.0%, with the closing at $386,000, representing a median sales price for condominiums 9.0% increase. Both segments continue closing at $386,000, representing a to report 3 months orsegments less of inventory. 9.0% increase. Both continue
to report 3 months less of inventory. The luxury condo ormarket through Q3 2016 shows that sales in the $800 The luxury condo market through Q3 2016 shows that sales in the $800 CONTINUED ON PAGE 3
CONTINUED ON PAGE 3
FOREIGN INVESTMENT
FOREIGN INVESTMENT $1 - $2 MILLION 2016
$1 - $2 MILLION
#
$
Source: Title Guaranty Hawaii, August 30, 2016
2015
#
$
JAPAN 31 $43,456,250 JAPAN 111 $166,509,866 2015 # $ 2016 # $ HONG KONG 4 $5,183,725 CANADA 7 $9,040,000 31 4 $43,456,250 JAPAN 111 4$166,509,866 CANADA $4,643,750 CHINA $6,275,100 JAPAN
2014
#
$
JAPAN 2014 KOREA JAPAN CHINA
47
# 5 47 4
$63,383,000
JAPAN
28
$39,859,700
$8,050,000
HONG KONG
4
$5,320,000
$63,383,000 $5,312,566
JAPAN CHINA
328
$39,859,700 $5,120,000
$
2013 Title Guaranty # Hawaii, August $ 30, 2016 Source:
2013
#
$
CANADA AUSTRALIA 7
3 $9,040,000 $4,672,200
HONG KONG CHINA
4 3
$5,183,725 $3,795,000
KOREA HONG KONG
54
$8,050,000 $5,045,600
HONG KONG 2 4 CANADA
$5,320,000 $2,601,708
CHINA KOREA
1 $6,275,100 $4,137,700
CANADA KOREA
4 2
$4,643,750 $2,370,000
CHINA CANADA
43
$5,312,566 $4,079,000
CHINA SINGAPORE
23
$5,120,000 $2,460,000
AUSTRALIA 3 + $4,672,200 $2 MILLION
CHINA
3
$3,795,000
HONG KONG
4
$5,045,600
CANADA
2
$2,601,708
KOREA 2016
KOREA 2015
2
$2,370,000 $
CANADA 2014
3 #
$4,079,000 $
2
$2,460,000 $
JAPAN
38
#7 4
4 1
$2 MILLION +
#
JAPAN 49 2016 # HONG KONG 3
JAPAN CHINA
$4,137,700 $ $165,283,981
JAPAN $ 2015 $10,068,494 CHINA
49 2$165,283,981 $9,329,600
HONG KONGIS. 3 VIRGIN
2$10,068,494 $4,798,600
#
# 18
$50,565,500
2
$ $7,400,000
JAPAN HONG KONG 18 3 $50,565,500 $7,340,000 CHINA CANADA
2 2
$7,400,000 $6,183,750
CHINA 2 $9,329,600 HONG KONG 3 $7,340,000 All Data from the HiCentral MLS, Ltd. Report © 2016 ShowingTime. VIRGIN IS. 2 $4,798,600 CANADA 2 $6,183,750
SINGAPORE 2014 CHINA
SINGAPORE
2013
#
$113,876,299
JAPAN
21
$56,616,300
$45,290,355 $
HONG 2013 KONG
4#
$9,575,000 $
$17,238,890
AUSTRALIA
2
$8,450,000
JAPAN 38 AUSTRALIA 4 SINGAPORE 7 HONG KONG 1 CHINA 4
$113,876,299 $14,498,800 $45,290,355 $2,350,000 $17,238,890
AUSTRALIA
4
$14,498,800
HONG KONG
1
JAPAN 21 SINGAPORE 1 HONG KONG 4 BRAZIL 1 AUSTRALIA 2
$56,616,300
$3,300,000
$9,575,000
$3,000,000
$8,450,000
SINGAPORE 1 $3,300,000 Visit www.ListSothebysRealty.com | 1 BRAZIL 1 $3,000,000 $2,350,000
SALES ACTIVITY SINGLE-FAMILY
CONDO
Year
$1 - 2 Million
$2 - 3 Million
$3 - 5 Million
$5 Million +
$800,000 $1 Million
$1 Million +
2011
320
39
28
9
75
113
2012
348
64
34
10
85
117
2013
471
64
32
14
120
150
2014
496
100
46
16
165
182
2015
608
84
43
18
213
164
2016 YTD
527
76
22
14
174
164
2011
$1.25
$2.35
$3.40
$6.10
$0.90
$1.55
2012
$1.26
$2.25
$3.51
$6.73
$0.90
$1.35
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 YTD
$1.25
$2.34
$3.50
$6.53
$0.87
$1.36
2011
8.4
19.1
18.6
37.6
10.3
15.7
2012
4.2
9.3
15.2
20.0
7.1
9.2
2013
7.0
14.8
20.2
21.0
7.7
14.2
2014
6.4
9.4
17.0
33.2
7.5
13.8
2015
6.3
17.9
21.8
37.2
8.3
18.7
2016 YTD
6.9
12.7
28.0
26.7
6.8
17.8
Metric
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO $1 Million +
HISTORICAL GRAPH
Q3 2007
Q3 2010
Q3 2013
Q3 2016
Q3 2010
Q3 2013
Q3 2016
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM $1 Million +
HISTORICAL GRAPH
Q3 2007
Closed Sales Median Sales Price Months Supply of Inventory All Data from the HiCentral MLS, Ltd. Report © 2016 ShowingTime.
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CONTINUED FROM PAGE 1
thousand to $1 million range outpaced all of 2014 by 5.5% yet are falling short of 2015 by 18.3% at this juncture. There is still one quarter remaining to catch up to or surpass the 2015 total. Months’ of inventory was down 24.1% to 6.8 months. Sales for condos priced at $1 million and higher remains stable at 164 units through Q3 2016, matching the fullyear total for 2015. Months’ of inventory increased by 2.7% to 17.8 months compared to Q3 2015.
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. 日本語 www.ListHawaii-mls.com.
OAHU LUXURY NEIGHBORHOOD DETAIL
THROUGH THIRD QUARTER 2016
2016 YTD Median Sales Price
2015 Median Sales Price
2014 Median Sales Price
2013 Median Sales Price
2012 Median Sales Price
2011 Median Sales Price
Aina Haina Beach
$1,200,000
$1,395,000
$2,700,000
$900,000
–
$2,000,000
Beachside
$2,875,000
$2,217,500
$1,922,500
$1,807,500
$1,615,000
$1,687,500
Neighborhoods
Black Point
$2,175,000
$3,350,000
$1,800,000
$6,200,000
$2,400,000
$2,210,000
Diamond Head
$2,934,000
$2,875,000
$2,288,888
$2,200,000
$2,150,000
$2,062,500
Dowsett
$1,350,000
$1,255,000
$1,333,000
$1,015,000
$977,500
$1,155,000
Hawaii Loa Ridge
$2,150,000
$2,100,000
$2,540,000
$1,946,500
$1,781,000
$1,590,000
Hillcrest
$1,030,000
$1,061,000
$1,000,000
$1,200,000
$917,875
$980,000
Kahala Area
$2,600,000
$2,200,000
$2,200,000
$1,940,000
$1,925,000
$1,790,000
Kamehame Ridge
$1,587,500
$1,152,500
$830,000
$1,268,888
$1,250,000
$1,000,300
Koko Kai
$2,271,500
$2,425,000
$2,520,000
$1,990,000
$2,200,000
$1,701,250
Lanikai
$2,295,000
$1,807,500
$2,745,750
$1,665,000
$1,525,000
$1,295,000
Makiki Heights
$1,385,000
$1,575,000
$1,590,000
$1,125,000
$1,078,578
$1,875,000
Manoa Area
$1,110,000
$1,214,617
$999,000
$1,150,000
$999,999
$975,000
Manoa-Woodlawn
$1,245,500
$1,134,750
$1,126,500
$1,049,500
$949,000
$815,000
Maunalani Heights
$1,279,000
$1,100,000
$981,500
$1,150,000
$950,000
$1,425,000
Napali Haweo
$1,445,000
$1,650,000
$1,660,000
$1,670,000
$1,900,000
$1,407,500
Niu Beach
$2,200,000
$3,420,000
$2,408,000
$4,050,000
$1,850,000
$2,400,000
Pacific Heights
$1,000,630
$999,000
$1,499,000
$752,500
$950,000
$720,000
Paiko Lagoon
$1,742,500
$1,155,000
$2,400,000
$1,050,000
$2,270,000
$3,150,000
Portlock
$2,035,000
$2,700,000
–
$2,875,000
$3,100,000
$3,175,000
Puupanini
$987,000
$998,500
$1,299,000
$872,000
$970,000
$1,162,500
Tantalus
$1,350,000
$1,700,000
$1,050,000
$1,108,000
$770,000
$1,200,000
Triangle
$1,462,500
$1,312,500
$1,225,000
$1,215,000
$1,059,500
$919,500
Waialae Golf Course
$1,853,500
$2,410,000
$2,125,000
$3,350,000
$1,530,000
$4,650,000
Waialae Iki
$1,685,000
$1,630,000
$1,625,000
$1,487,500
$1,294,375
$1,250,000
Waialae Nui Ridge
$1,472,500
$1,362,500
$1,248,888
$1,220,000
$1,040,000
$940,000
Wailupe Area
$2,100,000
$1,770,000
$2,200,000
$1,775,000
$1,900,000
$1,350,000
dash = no sales in the time period
All Data from the HiCentral MLS, Ltd. Report © 2016 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®
CLOSED SALES SINGLE FAMILY
CONDOMINIUM
$1 - $2 MILLION 608 471 320
$800 THOUSAND - $1 MILLION
$2 - $3 MILLION
213
100
527
496
84 64
348
64
120
39
2011
+8.7%
+35.3%
+5.3%
+22.6%
-13.3%
2012
2013
2014
2015
2016 YTD
$3 - $5 MILLION
34
+64.1%
0.0%
+56.3%
-16.0%
-9.5%
2012
2013
2014
2015
2016 YTD
43 14
32 22
2011
75
$5 MILLION + 46
28
2011
+21.4%
-5.9%
+43.8%
-6.5%
-48.8%
2012
2013
2014
2015
2016 YTD
9
2011
174
165
76
2011
85
+13.3%
+41.2%
+37.5%
+29.1%
-18.3%
2012
2013
2014
2015
2016 YTD
164
164
$1 MILLION + 16
182
18
150 14
113
117
10
+11.1%
+40.0%
+14.3%
+12.5%
-22.2%
2012
2013
2014
2015
2016 YTD
All Data from the HiCentral MLS, Ltd. Report © 2016 ShowingTime.
2011
+3.5%
+28.2%
+21.3%
-9.9%
0.0%
2012
2013
2014
2015
2016 YTD
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