1st Quarter 2018
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 2018 priced from $1 to $2 million increased 19.2% compared to Q1 2017, with 174 homes sold. This has culminated into 5.4 months’ supply of inventory, a drop of 25.7% compared to last year at this time. Supply for this price point has continued a downward trend for the last few years. For single-family homes in the $2 to $3 million range, sales decreased by 37.9% to 18 homes sold, down from 29 last year. Months’ supply of inventory increased 2.5% to 14.0 months for the quarter, indicating plenty of options for buyers in this price range.
Single-family homes priced from $3 to $5 million increased by 37.5% compared to last year, with 11 homes sold in Q1 2018 compared to 8 homes in Q1 2017. Months’ supply of inventory decreased by 52.2% to 12.6 months. Nine single family homes sold at or above $5 million in Q1 – three Windward Oahu homes and six East Oahu homes – including the top sale at $16,250,000 for a Kahala oceanfront residence. As for condominiums, seven units closed in the first quarter above $5 million, including five at Park Lane and the highest sale this quarter, a $14,500,000 penthouse at Waiea. The luxury condo market for Q1 2018 was about even with last year. Sales in the $800 thousand to $1 million range were down 4.1% compared to Q1 2017, while months’ supply of inventory was up 4.7% to 6.2 months.
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FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through December 31, 2017.
2016
2017
#
$
JAPAN
82
$111,518,829
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
10
$14,214,165
CANADA
HONG KONG
4
$5,183,725
KOREA
5
KOREA
3
$4,430,000
CHINA
6
$8,275,100
CANADA
4
$4,643,750
CHINA
4
$5,312,566
TAIWAN
3
$3,466,758
KOREA
3
$6,118,900
CHINA
3
$3,795,000
HONG KONG
4
$5,045,600
CANADA
2
$2,875,000
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
63
$268,891,006
HONG KONG
11
$66,957,353
HONG KONG
6
$22,209,744
CHINA
2
$7,400,000
SINGAPORE
7
$45,290,355
SINGAPORE
7
$33,980,786
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
KOREA
5
$15,740,000
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.
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