2ND Quarter 2017
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 through year-to-date (YTD) Q2 2017 priced from $1 to $2 million increased 16.4% compared to YTD Q2 2016, with 370 homes sold. This price point has 5.8 months’ supply of inventory, a decrease of 21.4 percent compared to last year at this time. For single-family homes in the $2 to $3 million range for YTD Q2 2017, sales increased by 9.8% to 56 homes sold, up from 51 for the same time period in 2016. Months’ supply of inventory decreased by 19.0% to 11.0 months.
Sales of single-family homes priced from $3 to $5 million increased by 37.5% compared to last year, with 22 homes sold YTD Q2 2107 compared to 16 for YTD Q2 2016. Months’ supply of inventory decreased by 33.3% to 17.6 months. Sales of single-family homes priced at $5 million or more decreased by 36.4% for YTD Q2 2017 compared to YTD Q2 2016, with seven homes sold versus 11 last year. Months’ supply of inventory increased by 28.4% to 41.7 months. During Q2 2017, there were three sales of $5 million or more, including two single-family homes in Lanikai and one in Honolulu’s Wailupe neighborhood. The luxury condo market through YTD Q2 2017 continued to show strong sales growth.
Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, 2017
2016
#
$
135 8
CHINA KOREA
2017
#
$
JAPAN
87
$39,542,319
JAPAN
CANADA
6
$3,450,000
CANADA
CHINA
6
$2,690,000
KOREA
5
$2,195,000
HONG KONG
3
$1,865,500
2015
#
$
2014
#
$
$203,375,491
JAPAN
31
$10,419,000
HONG KONG
4
$43,456,250
JAPAN
47
$63,383,000
$5,183,725
KOREA
5
$8,050,000
6
$8,275,100
CANADA
3
$6,118,900
CHINA
4
$4,643,750
CHINA
4
$5,312,566
3
$3,795,000
HONG KONG
4
$5,045,600
HONG KONG
4
$5,241,800
KOREA
2
$2,370,000
CANADA
3
$4,079,000
2016
#
$
2015
#
$
2014
#
$
JAPAN
18
$50,565,500
JAPAN
38
$113,876,299
CHINA
2
$7,400,000
SINGAPORE
7
$45,290,355
HONG KONG
3
$7,340,000
CHINA
4
$17,238,890
CANADA
2
$6,183,750
AUSTRALIA
4
$14,498,800
HONG KONG
1
$2,350,000
HONG KONG
1
$2,350,000
$2 MILLION + 2017
#
$
JAPAN
11
$45,308,489
JAPAN
78
$333,303,959
CHINA
2
$9,400,000
HONG KONG
6
$22,209,744
SINGAPORE
2
$6,400,000
CHINA
5
$20,949,835
BELGIUM
1
$2,962,000
SINGAPORE
4
$14,649,871
All Data from the HiCentral MLS, Ltd. Report © 2017 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 +
2012 YTD
145
23
17
2
40
46
2013 YTD
178
30
15
8
63
75
2014 YTD
234
42
25
6
86
93
2015 YTD
292
29
20
11
104
89
2016 YTD
318
51
16
11
109
111
2017 YTD
370
56
22
7
140
235
2012 YTD
$1.25
$2.40
$3.60
$5.98
$0.89
$1.50
2013 YTD
$1.25
$2.25
$3.50
$7.19
$0.88
$1.45
2014 YTD
$1.25
$2.40
$3.80
$6.47
$0.89
$1.29
2015 YTD
$1.28
$2.20
$3.79
$8.50
$0.87
$1.40
2016 YTD
$1.27
$2.30
$3.50
$5.90
$0.88
$1.65
2017 YTD
$1.25
$2.35
$3.50
$6.21
$0.88
$1.65
Q2 2012
7.6
17.0
12.5
24.2
9.2
11.9
Q2 2013
8.2
11.1
24.1
20.4
7.7
12.2
Q2 2014
7.1
12.3
16.7
35.5
8.2
13.8
Q2 2015
7.6
13.8
27.5
31.0
9.6
16.8
Q2 2016
7.3
13.6
26.4
32.5
7.7
17.0
Q2 2017
5.8
11.0
17.6
41.7
6.8
8.7
Metric
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO
HISTORICAL GRAPH
$1 Million +
Q2 2008
Q2 2011
Q2 2014
Q2 2017
Q2 2011
Q2 2014
Q2 2017
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM $1 Million +
HISTORICAL GRAPH Q2 2008
Closed Sales Median Sales Price Months Supply of Inventory
All Data from the HiCentral MLS, Ltd. Report © 2017 ShowingTime.
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Continued from Page 1
Sales in the $800 thousand to $1 million range were up 28.4% over YTD Q2 2016, while months’ supply of inventory was down 11.8% to 6.8 months. Sales for condos priced at $1 million and higher increased by an astonishing 111.7% compared to last year at this time. The 235 closed sales for YTD Q2 2017 is well above any number over the last several years, including the 111 sales from YTD Q2 2016. Months’ of inventory dropped to 8.7 months, decreasing 49.0% compared to Q2 2016. 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 Neighborhoods Aina Haina Beach Beachside Black Point
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THROUGH SECOND QUARTER 2017
2017 YTD Median Sales Price
2016 YTD Median Sales Price
2015 YTD Median Sales Price
2014 YTD Median Sales Price
2013 YTD Median Sales Price
2012 YTD Median Sales Price
–
–
$1,137,500
$1,158,000
$900,000
–
$1,932,500
$3,812,500
$2,185,000
$2,498,000
$1,710,000
$2,725,000
–
$2,175,000
$3,487,500
$2,579,068
$6,200,000
$2,400,000
Diamond Head
$2,100,000
$2,668,000
$2,312,500
$2,284,444
$2,550,000
$2,150,000
Dowsett
$2,175,000
$1,270,000
$1,091,000
$1,341,000
$2,000,000
$680,000
Hawaii Loa Ridge
$2,355,000
$2,053,000
$3,225,000
$2,861,500
$1,850,000
$1,592,500
Hillcrest
$1,200,000
–
–
$1,160,000
$1,200,000
$925,750
Kahala Area
$2,100,000
$2,319,000
$3,075,000
$2,600,000
$1,867,250
$1,900,000
$945,000
$1,175,000
–
$830,000
$1,034,444
–
Koko Kai
$2,550,000
$2,185,000
$2,565,000
$2,656,500
$1,990,000
$2,450,000
Lanikai
$1,865,000
$2,585,000
$1,645,000
$2,447,875
$1,680,000
$1,516,500
Kamehame Ridge
Makiki Heights
$1,525,000
$1,385,000
$1,335,000
$1,602,500
$1,050,000
$1,150,000
Manoa Area
$1,220,000
$1,091,500
$1,197,117
$975,000
$1,058,888
$1,022,000
Manoa-Woodlawn
$1,392,500
$1,175,000
$1,177,250
$1,187,500
$865,000
$857,000
Maunalani Heights
$1,322,500
$1,279,000
$1,100,000
$977,100
$1,257,500
$880,000
Napali Haweo
$1,812,500
$1,357,500
$1,875,000
$2,275,000
$1,675,000
$1,919,500
Niu Beach
–
$2,200,000
$3,500,000
$965,420
$4,050,000
$2,252,500
$951,000
$1,000,630
$1,109,500
$1,525,694
$731,500
$1,065,000
Paiko Lagoon
$3,327,500
$1,742,500
$1,300,000
$2,400,000
$754,988
–
Portlock
$2,600,000
$2,365,000
$2,700,000
–
$3,650,000
$2,700,000
Pacific Heights
Puupanini
–
$949,000
$1,450,000
$4,338,000
$872,000
$2,300,000
Tantalus
–
$1,350,000
$1,700,000
$1,050,000
–
–
Triangle
$812,000
$1,425,000
$1,470,000
$1,402,000
$1,215,000
$1,140,000
Waialae Golf Course
$3,737,563
$1,999,999
$5,663,000
$2,200,000
$1,520,000
$1,510,000
Waialae Iki
$1,719,000
$1,688,000
$1,630,000
$1,550,000
$1,487,500
$1,265,000
Waialae Nui Ridge
$1,489,000
$1,472,500
$1,857,500
$1,365,000
$1,200,000
$1,025,000
Wailupe Area
$3,200,000
$2,100,000
$1,707,500
$4,525,000
$1,775,000
–
dash = no sales in the time period
All Data from the HiCentral MLS, Ltd. Report © 2017 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
370 292
51
318
140
42
234 145
56
30
178
104
29
23
109
86 63 40
2012 YTD
+22.8%
+31.5%
+24.8%
+8.9%
+16.4%
2013 YTD
2014 YTD
2015 YTD
2016 YTD
2017 YTD
$3 - $5 MILLION
2012 YTD
+30.4%
+40.0%
-31.0%
+75.9%
+9.8%
2013 YTD
2014 YTD
2015 YTD
2016 YTD
2017 YTD
$5 MILLION + 11 22
20 15
+36.5%
+20.9%
+4.8%
+28.4%
2014 YTD
2015 YTD
2016 YTD
2017 YTD
235
11
8
16
+57.5% 2013 YTD
$1 MILLION +
25 17
2012 YTD
7
6
75
2012 YTD
+66.7%
2013 YTD
2014 YTD
-20.0%
-20.0%
+37.5%
2015 YTD
2016 YTD
2017 YTD
2012 YTD
89
111
46
2 -11.8%
93
+300.0%
-25.0%
+83.3%
0.0%
-36.4%
2013 YTD
2014 YTD
2015 YTD
2016 YTD
2017 YTD
All Data from the HiCentral MLS, Ltd. Report © 2017 ShowingTime.
2012 YTD
+63.0%
+24.0%
-4.3%
+24.7%
+111.7%
2013 YTD
2014 YTD
2015 YTD
2016 YTD
2017 YTD
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