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 Q1 2017 priced from $1 to $2 million increased 10.5% compared to Q1 2016, with 147 homes sold. This price point has 5.9 months’ supply of inventory, a decrease of 12.1 percent compared to last year at this time. Supply continues to trend down on Oahu. For single-family homes in the $2 to $3 million range, sales increased by 20.8% to 29 homes sold, up from 24. Months’ of inventory decreased by 27.8% to 10.9 months for the quarter. Single-family homes priced from $3 to $5 million increased by 14.3% compared to last year, with eight homes sold in Q1 2017
compared to seven during Q1 2016. Months’ of inventory increased by 16.4% to 25.2 months. During Q1 2017, there were seven sales of $5 million or more, including three single-family homes in East Oahu, Windward Oahu and North Shore. There were also four condominiums sold at Waiea, the newest luxury high rise in Kakaako, with sales ranging from $6.5 million to $14.3 million. Before we look at luxury condos, here’s a quick view of Oahu’s overall market for March 2017 as reported by the Honolulu Board of REALTORS®. For the first quarter of 2017, 777 single-family homes were sold on Oahu, up 1.0% compared to the same period last year. The median sales price for single-family homes closed the quarter at $750,000, up 3.5% over last year. Meanwhile, 1,235 condominiums were sold in the first quarter of 2017, an increase of 7.1%, with the median sales price for condominiums closing the quarter $390,000, representing a 2.6% Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION 2016
Source: Title Guaranty Hawaii, 2017
#
$
2015
#
$
2014
#
$
2013
#
$
135
$203,375,491
JAPAN
31
$43,456,250
JAPAN
47
$63,383,000
JAPAN
28
$39,859,700
CANADA
8
$10,419,000
HONG KONG
4
$5,183,725
KOREA
5
$8,050,000
HONG KONG
4
$5,320,000
CHINA
6
$8,275,100
CANADA
4
$4,643,750
CHINA
4
$5,312,566
CHINA
3
$5,120,000
KOREA
3
$6,118,900
CHINA
3
$3,795,000
HONG KONG
4
$5,045,600
CANADA
2
$2,601,708
HONG KONG
4
$5,241,800
KOREA
2
$2,370,000
CANADA
3
$4,079,000
SINGAPORE
2
$2,460,000
2015
#
$
2014
#
$
2013
#
$
JAPAN
38
$113,876,299
JAPAN
21
$56,616,300
SINGAPORE
7
$45,290,355
HONG KONG
4
$9,575,000
CHINA
4
$17,238,890
AUSTRALIA
2
$8,450,000
AUSTRALIA
4
$14,498,800
SINGAPORE
1
$3,300,000
HONG KONG
1
$2,350,000
BRAZIL
1
$3,000,000
JAPAN
$2 MILLION + 2016
#
$
JAPAN
78
$333,303,959
JAPAN
18
$50,565,500
HONG KONG
6
$22,209,744
CHINA
2
$7,400,000
CHINA
5
$20,949,835
HONG KONG
3
$7,340,000
SINGAPORE
4
$14,649,871
CANADA
2
$6,183,750
All Data from the HiCentral MLS, Ltd. Report © 2017 ShowingTime.
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