3RD Quarter 2017
Aloha
compared to 22 last year. Months’ supply of inventory decreased by 33.1% to 17.7 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 21.4%, with 11 homes sold year to date compared to 14 last year. Months’ supply of inventory increased by 28.4% to 41.7 months.
Single-family home sales year to date priced from $1 to $2 million increased 9.4% compared to the same period in 2016, with 580 homes sold. This price point has 6.3 months’ supply of inventory, a decrease of 14.0 percent compared to last year at this time.
There were four single-family homes sold over $5 million in Q3, including homes in Diamond Head ($7,080,000), Kahala ($5,600,000), Hawaii Loa Ridge ($6,900,000) and Lanikai ($5,950,000).
For single-family homes in the $2 to $3 million range, sales increased by 15.8% to 88 homes sold, up from 76 for the same time period in 2016. Months’ supply of inventory decreased by 31.0% to 9.4 months.
And, thanks to the bulk closing of Park Lane Ala Moana, an astounding 28 additional luxury condominiums were recorded over $5 million in Q3 with prices ranging from $5,083,000 to $22,000,000.
Sales of single-family homes priced from $3 to $5 million increased by 59.1% compared to last year, with 35 homes sold year-to-date
The luxury condo market continues to have a strong year into the third quarter, as year-to-date figures show healthy increases.
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.
Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through August 31, 2017.
2016
2017
#
$
JAPAN
35
$46,539,145
JAPAN
#
$
135 8
2015
#
$
2014
#
$
$203,375,491
JAPAN
31
$10,419,000
$43,456,250
JAPAN
47
$63,383,000 $8,050,000
CHINA
3
$4,870,000
CANADA
HONG KONG
4
$5,183,725
KOREA
5
CANADA
2
$2,875,000
CHINA
6
$8,275,100
CANADA
4
$4,643,750
CHINA
4
$5,312,566
HONG KONG
2
$2,840,000
KOREA
3
$6,118,900
CHINA
3
$3,795,000
HONG KONG
4
$5,045,600
KOREA
1
$1,590,000
HONG KONG
4
$5,241,800
KOREA
2
$2,370,000
CANADA
3
$4,079,000
$2 MILLION +
Correction: 2017 $2 Million + figures were incorrectly overstated in the 2nd Quarter 2017 report.
2015
#
$
$333,303,959
JAPAN
18
$50,565,500
6
$22,209,744
CHINA
2
$7,400,000
CHINA
5
$20,949,835
HONG KONG
3
$14,159,050
SINGAPORE
4
$14,649,871
CANADA
$8,900,000
AUSTRALIA
2
$11,627,100
HONG KONG
2017
#
$
2016
#
$
JAPAN
26
$111,720,489
JAPAN
78
HONG KONG
4
$24,938,000
HONG KONG
SINGAPORE
3
$16,806,000
CHINA
3
CANADA
2
All Data from the HiCentral MLS, Ltd. Report © 2017 ShowingTime.
2014
#
$
JAPAN
38
$113,876,299
SINGAPORE
7
$45,290,355
$7,340,000
CHINA
4
$17,238,890
2
$6,183,750
AUSTRALIA
4
$14,498,800
1
$2,350,000
HONG KONG
1
$2,350,000
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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
249
35
27
2
58
75
2013 YTD
331
46
24
12
95
122
2014 YTD
368
65
32
9
121
139
2015 YTD
471
61
31
14
153
129
2016 YTD
530
76
22
14
175
165
2017 YTD
580
88
35
11
223
357
2012 YTD
$1.25
$2.35
$3.60
$5.98
$0.88
$1.38
2013 YTD
$1.26
$2.25
$3.40
$7.19
$0.88
$1.46
2014 YTD
$1.26
$2.30
$3.87
$6.00
$0.89
$1.31
2015 YTD
$1.27
$2.30
$3.50
$7.95
$0.87
$1.38
2016 YTD
$1.25
$2.34
$3.50
$6.53
$0.88
$1.76
2017 YTD
$1.25
$2.38
$3.60
$6.21
$0.88
$1.76
Q3 2012
7.6
17.0
12.5
24.2
9.8
11.1
Q3 2013
8.2
11.1
24.1
20.4
7.4
11.9
Q3 2014
7.1
12.3
16.7
35.5
10.7
13.5
Q3 2015
7.6
13.8
27.5
31.0
9.0
17.3
Q3 2016
7.3
13.6
26.4
32.5
7.0
18.1
Q3 2017
6.3
9.4
17.7
41.7
5.9
7.3
Metric
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO
HISTORICAL GRAPH
$1 Million +
Q3 2008
Q3 2011
Q3 2014
Q3 2017
Q3 2011
Q3 2014
Q3 2017
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM $1 Million +
HISTORICAL GRAPH Q3 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 27.4% over 2016, while months’ supply of inventory was down 16.1% to 5.9 months. Sales for condos priced at $1 million-plus increased by 116.4% compared to last year at this time. There have been 357 closed sales, year to date, which is more than double last year’s 165 and any recent year prior. Months’ supply of inventory dropped to 7.3 months, a decrease of 59.6%. 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 THIRD QUARTER 2017
2017 YTD Median Sales Price
2016 YTD Median Sales Price
2015 YTD Median Sales Price
Aina Haina Beach
$1,400,000
$1,200,000
$1,395,000
$2,097,500
$900,000
–
Beachside
$1,920,000
$2,875,000
$2,217,500
$2,498,000
$1,790,000
$2,097,500
Black Point
–
$2,175,000
$3,350,000
$2,579,068
$6,200,000
$2,719,000
Diamond Head
$2,450,000
$2,934,000
$2,485,000
$2,288,888
$2,497,500
$2,150,000
Dowsett
$1,747,500
$1,350,000
$927,000
$1,280,000
$1,182,500
$925,000
Hawaii Loa Ridge
$2,430,000
$2,150,000
$2,100,000
$2,546,250
$1,887,500
$1,700,000
Hillcrest
$1,200,000
$1,030,000
$1,148,500
$1,000,000
$1,200,000
$942,000
Kahala Area
$2,435,000
$2,600,000
$2,539,000
$2,175,000
$1,700,000
$1,902,500
Kamehame Ridge
$1,114,000
$1,587,500
$1,180,000
$830,000
$1,268,888
–
Neighborhoods
2014 YTD Median Sales Price
2013 YTD Median Sales Price
2012 YTD Median Sales Price
Koko Kai
$2,412,000
$2,271,500
$2,007,500
$2,472,500
$1,990,000
$2,450,000
Lanikai
$2,137,500
$2,295,000
$1,950,000
$2,022,500
$1,680,000
$1,500,000
Makiki Heights
$1,317,500
$1,385,000
$1,350,000
$1,590,000
$1,087,500
$1,078,578
Manoa Area
$1,230,000
$1,110,000
$1,175,000
$987,500
$1,210,000
$995,000
Manoa-Woodlawn
$1,331,250
$1,245,500
$1,140,000
$1,108,000
$999,999
$949,000
Maunalani Heights
$1,295,000
$1,279,000
$1,100,000
$1,054,200
$1,185,000
$889,000
Napali Haweo
$1,887,500
$1,445,000
$1,650,000
$2,050,000
$1,672,500
$1,900,000
Niu Beach
$4,300,000
$2,200,000
$3,420,000
$1,532,710
$4,050,000
$1,850,000
$745,000
$709,000
$727,500
$660,928
$550,000
$542,450
North Shore Pacific Heights
$984,000
$1,000,630
$1,062,000
$1,888,888
$731,500
$880,000
Paiko Lagoon
$3,660,000
$1,742,500
$1,300,000
$2,400,000
$1,050,000
$2,270,000
Portlock
$2,625,000
$2,035,000
$2,973,150
–
$2,100,000
$2,700,000
Puupanini
$1,092,500
$987,000
$1,200,000
$4,338,000
$815,000
$970,000
$700,000
$1,350,000
$1,700,000
$1,050,000
$1,108,000
–
Tantalus Triangle
$1,067,500
$1,462,500
$1,435,000
$1,267,500
$1,250,000
$1,069,000
Waialae Golf Course
$3,165,000
$1,853,500
$2,410,000
$2,125,000
$2,435,000
$1,530,000
Waialae Iki
$1,650,000
$1,685,000
$1,630,000
$1,550,000
$1,487,500
$1,335,000
Waialae Nui Ridge
$1,490,000
$1,472,500
$1,552,000
$1,279,444
$1,210,000
$1,025,000
Wailupe Area
$3,200,000
$2,100,000
$1,770,000
$2,125,000
$1,775,000
$1,972,500
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
471 331
$800 THOUSAND - $1 MILLION
$2 - $3 MILLION
530
223
88
580
76 65
368
61
153 121
46
249
175
95
35 58
2012 YTD
+32.9%
+11.2%
+28.0%
+12.5%
+9.4%
2013 YTD
2014 YTD
2015 YTD
2016 YTD
2017 YTD
$3 - $5 MILLION
+31.4%
+41.3%
-6.2%
+24.6%
+15.8%
2013 YTD
2014 YTD
2015 YTD
2016 YTD
2017 YTD
$5 MILLION +
32 27
2012 YTD
14
31
+63.8%
+27.4%
+26.4%
+14.4%
+27.4%
2013 YTD
2014 YTD
2015 YTD
2016 YTD
2017 YTD
$1 MILLION +
35
24
2012 YTD
357
14
12
11 9
22
122
-11.1%
+33.3%
-3.1%
-29.0%
+59.1%
2013 YTD
2014 YTD
2015 YTD
2016 YTD
2017 YTD
2012 YTD
165 129
75
2 2012 YTD
139
+500.0%
-25.0%
+55.6%
0.0%
-21.4%
2013 YTD
2014 YTD
2015 YTD
2016 YTD
2017 YTD
All Data from the HiCentral MLS, Ltd. Report © 2017 ShowingTime.
2012 YTD
+62.7%
+13.9%
-7.2%
+27.9%
+116.4%
2013 YTD
2014 YTD
2015 YTD
2016 YTD
2017 YTD
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