4TH Quarter 2017
Aloha
37 sold in 2016. Months’ supply of inventory decreased by 44.0% to 14.8 months.
Our report breaks the Oahu luxury home market into four singlefamily home and two condominium price segments.
Sales of single-family homes priced at $5 million or more decreased by 12.5%, with 14 homes sold compared to 16 last year. Months’ supply of inventory increased by 17.3% to 38.1 months.
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.
Single-family home sales priced from $1 to $2 million increased 11.8% in 2017 compared to 2016, with 794 homes sold. This price point finished the year at 4.8 months’ supply of inventory, a decrease of 34.8 percent from last year. For single-family homes in the $2 to $3 million range, sales increased by 13.1% to 112 homes sold, up from 99 in 2016. Months’ supply of inventory decreased by 19.3% to 11.0 months. Sales of single-family homes priced from $3 to $5 million increased by 37.8% compared to last year, with 51 homes sold in 2017 versus
Three single-family homes sold at or above $5 million in Q4, including three Kahala / Diamond Head residences that sold between $6,388,000 and $11,500,000. As for condominiums, thanks to bulk closings in two new Honolulu condominiums – Park Lane and Anaha – 31 other sales closed between $5,025,000 and $8,049,000. The luxury condo market had a strong year, with closed sales achieving a sustained surge that carried through all the way to the end of 2017. Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through November 30, 2017.
2016
#
$
135
CANADA
$4,430,000
CHINA
2017
#
$
JAPAN
71
$95,891,729
JAPAN
CHINA
10
$14,214,165
KOREA
3
2015
#
$
2014
#
$
$203,375,491
JAPAN
31
8
$10,419,000
HONG KONG
4
$43,456,250
JAPAN
47
$63,383,000
$5,183,725
KOREA
5
6
$8,275,100
CANADA
4
$8,050,000
$4,643,750
CHINA
4
$5,312,566
CANADA
2
$2,875,000
KOREA
3
$6,118,900
CHINA
3
$3,795,000
HONG KONG
4
$5,045,600
HONG KONG
2
$2,840,000
HONG KONG
4
$5,241,800
KOREA
2
$2,370,000
CANADA
3
$4,079,000
2016
#
$
2015
#
$
2014
#
$
JAPAN
78
$333,303,959
JAPAN
18
$50,565,500
JAPAN
38
$113,876,299
$2 MILLION + 2017
#
$
JAPAN
49
$200,751,006
HONG KONG
9
$46,128,353
HONG KONG
6
$22,209,744
CHINA
2
$7,400,000
SINGAPORE
7
$45,290,355
SINGAPORE
6
$28,722,786
CHINA
5
$20,949,835
HONG KONG
3
$7,340,000
CHINA
4
$17,238,890
CHINA
4
$16,244,754
SINGAPORE
4
$14,649,871
CANADA
2
$6,183,750
AUSTRALIA
4
$14,498,800
CANADA
3
$11,528,150
AUSTRALIA
2
$11,627,100
HONG KONG
1
$2,350,000
HONG KONG
1
$2,350,000
All Data from the HiCentral MLS, Ltd. Report © 2018 ShowingTime.
Visit www.ListSothebysRealty.com | 1
SALES ACTIVITY SINGLE-FAMILY
CONDO
Year
$1 - 2 Million
$2 - 3 Million
$3 - 5 Million
$5 Million +
$800,000 $1 Million
$1 Million +
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
710
99
37
16
241
336
2017
794
112
51
14
318
662
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
$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
Q4 2012
7.6
17.0
12.5
24.2
7.1
9.2
Q4 2013
8.2
11.1
24.1
20.4
7.7
14.2
Q4 2014
7.1
12.3
16.7
35.5
7.5
13.8
Q4 2015
7.6
13.8
27.5
31.0
8.3
17.5
Q4 2016
7.3
13.6
26.4
32.5
5.8
10.1
Q4 2017
4.8
11.0
14.8
38.1
5.4
5.9
Metric
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO
HISTORICAL GRAPH
$1 Million +
Q4 2008
Q4 2011
Q4 2014
Q4 2017
Q4 2011
Q4 2014
Q4 2017
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM $1 Million +
HISTORICAL GRAPH Q4 2008
Closed Sales Median Sales Price Months Supply of Inventory
All Data from the HiCentral MLS, Ltd. Report © 2018 ShowingTime.
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Continued from Page 1
Sales in the $800 thousand to $1 million range were up 32.0% over 2016, while months’ supply of inventory was down 6.9% to 5.4 months. There were 662 closed sales for condos priced at $1 million-plus, an increase of 97.0% compared to 2016 and a 303.7% increase from 2015. Months’ supply of inventory dropped to 5.9 months, a decrease of 41.1% compared to last year. 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.
OAHU LUXURY NEIGHBORHOOD DETAIL
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THROUGH FOURTH QUARTER 2017
2017 Median Sales Price
2016 Median Sales Price
2015 Median Sales Price
2014 Median Sales Price
2013 Median Sales Price
2012 Median Sales Price
Aina Haina Beach
$1,400,000
$1,200,000
$1,395,000
$2,700,000
$900,000
--
Beachside
$2,094,000
$2,537,500
$2,217,500
$1,922,500
$1,807,500
$1,615,000
Black Point
--
$2,175,000
$3,350,000
$1,800,000
$6,200,000
$2,400,000
$2,375,000
$3,200,000
$2,875,000
$2,288,888
$2,200,000
$2,150,000
Neighborhoods
Diamond Head Dowsett
$1,622,500
$1,350,000
$1,255,000
$1,333,000
$1,015,000
$977,500
Hawaii Loa Ridge
$2,430,000
$2,200,000
$2,100,000
$2,540,000
$1,946,500
$1,781,000
Hillcrest
$1,269,000
$1,050,000
$1,061,000
$1,000,000
$1,200,000
$917,875
Kahala Area
$2,435,000
$2,648,050
$2,200,000
$2,200,000
$1,940,000
$1,925,000
Kamehame Ridge
$1,114,000
$1,587,500
$1,152,500
$830,000
$1,268,888
$1,250,000
Koko Kai
$2,660,000
$2,041,500
$2,425,000
$2,520,000
$1,990,000
$2,200,000
Lanikai
$2,297,826
$2,272,500
$1,807,500
$2,745,750
$1,665,000
$1,525,000
Makiki Heights
$1,393,000
$1,360,000
$1,575,000
$1,590,000
$1,125,000
$1,078,578
Manoa Area
$1,279,500
$1,180,000
$1,214,617
$999,000
$1,150,000
$999,999
Manoa-Woodlawn
$1,288,000
$1,245,500
$1,134,750
$1,126,500
$1,049,500
$949,000
Maunalani Heights
$1,295,000
$1,282,000
$1,100,000
$981,500
$1,150,000
$950,000
Napali Haweo
$1,900,000
$1,445,000
$1,650,000
$1,660,000
$1,670,000
$1,900,000
Niu Beach
$4,300,000
$2,200,000
$3,420,000
$2,408,000
$4,050,000
$1,850,000
North Shore
$755,000
$750,000
$747,500
$637,000
$595,000
$587,500
Pacific Heights
$968,000
$1,002,260
$999,000
$1,499,000
$752,500
$950,000
Paiko Lagoon
$3,327,500
$1,000,000
$1,155,000
$2,400,000
$1,050,000
$2,270,000
Portlock
$2,650,000
$2,332,500
$2,700,000
--
$2,875,000
$3,100,000
Puupanini
$3,889,000
$1,025,000
$998,500
$1,299,000
$872,000
$970,000
Tantalus
$1,110,000
$1,262,500
$1,700,000
$1,050,000
$1,108,000
$770,000
Triangle
$860,000
$1,465,000
$1,312,500
$1,225,000
$1,215,000
$1,059,500
Waialae Golf Course
$2,510,000
$1,999,999
$2,410,000
$2,125,000
$3,350,000
$1,530,000
Waialae Iki
$1,662,500
$1,667,500
$1,630,000
$1,625,000
$1,487,500
$1,294,375
Waialae Nui Ridge
$1,400,000
$1,525,000
$1,362,500
$1,248,888
$1,220,000
$1,040,000
Wailupe Area
$2,500,000
$2,100,000
$1,770,000
$2,200,000
$1,775,000
$1,900,000
dash = no sales in the time period
All Data from the HiCentral MLS, Ltd. Report © 2018 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
$800 THOUSAND - $1 MILLION
$2 - $3 MILLION
710
794
318
99 84
608 471
112
100
496
64
213
64
165
348
85
2012
+35.3%
+5.3%
+22.6%
+16.8%
+11.8%
2013
2014
2015
2016
2017
$3 - $5 MILLION
2012
241
0.0%
+56.3%
-16.0%
+17.9%
+13.1%
2013
2014
2015
2016
2017
$5 MILLION +
2012
120
+41.2%
+37.5%
+29.1%
+13.1%
+32.0%
2013
2014
2015
2016
2017
$1 MILLION + 662
46 34
18
51
16
43 37
32
16
14
14
336
10
117
2012
-5.9%
+43.8%
-6.5%
-14.0%
+37.8%
2013
2014
2015
2016
2017
+40.0%
+14.3%
+12.5%
-11.1%
-12.5%
2013
2014
2015
2016
2017
2012
All Data from the HiCentral MLS, Ltd. Report © 2018 ShowingTime.
2012
150
182
164
+28.2%
+21.3%
-9.9%
+104.9%
+97.0%
2013
2014
2015
2016
2017
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