3rd 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 Q3 2018 priced from $1 to $2 million increased 11.2% compared to Q3 2017, with 238 homes sold. Months’ supply of inventory dropped 7.0% compared to last year at this time to 6.8 months. Lower year-over-year months of supply are nothing new in all price points. This lower months of supply can be interpreted differently depending on whether you are looking to buy or sell. For single-family homes in the $2 to $3 million range, sales decreased by 3.1% to 31 homes sold, nearly even with last year’s mark of 32. Months’ supply of inventory decreased 5.4% to 12.9 months for the quarter.
Single-family home sales priced from $3 to $5 million decreased by 15.4% compared to last year. Months’ supply of inventory had the largest year-over-year decrease of all supply measures, down 30.3% to 18.4 months. Eight single-family homes sold at or above $5 million in Q3, including four East Oahu homes and three Windward Oahu homes. The top sale was priced at $15,651,750 for a Beachside oceanfront residence. As for condominiums, four units closed in the third quarter above $5 million. Two units sold at Waiea and two units sold at Park Lane. The highest condo sale this quarter was at Park Lane for $9,800,000. Sales in the $800 thousand to $1 million range for Q3 2018 were down 8.3% compared to Q3 2017. The 77 closed sales were behind last year’s 84 sales but ahead of the 66 sales in Q3 2016. Months’ supply of inventory was up 3.4% to 5.7 months. Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through July 2018.
2017
#
$
$53,810,900
JAPAN
82
$111,518,829
JAPAN
10
$14,214,165
2018
#
$
JAPAN
38
2016
#
$
2015
#
$
135
$203,375,491
JAPAN
31
$43,456,250
CANADA
24
$31,257,950
CHINA
CANADA
8
$10,419,000
HONG KONG
4
$5,183,725
KOREA
3
$3,895,000
KOREA
3
$4,430,000
CHINA
6
$8,275,100
CANADA
4
$4,643,750
GUAM
2
$2,915,833
TAIWAN
3
$3,466,758
KOREA
3
$6,118,900
CHINA
3
$3,795,000
SWITZERLAND
1
$1,585,000
CANADA
2
$2,875,000
HONG KONG
4
$5,241,800
KOREA
2
$2,370,000
2018
#
$
2017
#
$
2016
#
$
2015
#
$
JAPAN
36
$143,284,200
JAPAN
63
$268,891,006
JAPAN
78
$333,303,959
JAPAN
18
$50,565,500
CANADA
17
$76,212,721
HONG KONG
11
$66,957,353
HONG KONG
6
$22,209,744
CHINA
2
$7,400,000
KOREA
3
$11,228,800
SINGAPORE
7
$33,980,786
CHINA
5
$20,949,835
HONG KONG
3
$7,340,000
SINGAPORE
1
$16,250,000
CHINA
4
$16,244,754
SINGAPORE
4
$14,649,871
CANADA
2
$6,183,750
HONG KONG
1
$6,547,000
KOREA
5
$15,740,000
AUSTRALIA
2
$11,627,100
HONG KONG
1
$2,350,000
$2 MILLION +
All Data from the HiCentral MLS, Ltd. Report © 2018 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 +
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
242
336
2017
796
111
51
14
319
662
2018 YTD
641
74
32
23
236
285
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
2018 YTD
$1.26
$2.37
$3.73
$7.00
$0.89
$1.56
Q3 2013
7.6
17.0
12.5
24.2
9.8
11.1
Q3 2014
8.2
11.1
24.1
20.4
7.4
11.9
Q3 2015
7.1
12.3
16.7
35.5
10.7
13.5
Q3 2016
7.6
13.8
27.5
31.0
8.9
16.8
Q3 2017
7.3
13.6
26.4
32.5
7.0
16.0
Q3 2018
6.8
12.9
18.4
25.4
5.7
6.5
Metric
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO $1 Million +
HISTORICAL GRAPH Q3 2015
Q3 2016
Q3 2017
Q3 2018
Q3 2016
Q3 2017
Q3 2018
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM $1 Million +
HISTORICAL GRAPH Q3 2015
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 for condos priced at $1 million and higher decreased by 26.2% compared to last year at this time. Months’ supply of inventory decreased by 7.1% compared to Q3 2017 to land at 6.5 months. 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.
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OAHU LUXURY NEIGHBORHOOD DETAIL Neighborhoods
2018 YTD Median Sales Price
THROUGH THIRD QUARTER 2018
2017 Median Sales Price
2016 Median Sales Price
2015 Median Sales Price
2014 Median Sales Price
2013 Median Sales Price
Aina Haina Beach
$5,700,000
$1,400,000
$1,200,000
$1,395,000
$2,700,000
$900,000
Beachside
$3,400,000
$2,094,000
$2,537,500
$2,217,500
$1,922,500
$1,807,500
Black Point
$2,500,000
–
$2,175,000
$3,350,000
$1,800,000
$6,200,000
Diamond Head
$3,200,000
$2,375,000
$3,200,000
$2,875,000
$2,288,888
$2,200,000
Dowsett
$1,590,000
$1,622,500
$1,350,000
$1,255,000
$1,333,000
$1,015,000
Hawaii Loa Ridge
$2,310,000
$2,430,000
$2,200,000
$2,100,000
$2,540,000
$1,946,500
Hillcrest
$1,358,750
$1,269,000
$1,050,000
$1,061,000
$1,000,000
$1,200,000
Kahala Area
$2,838,000
$2,435,000
$2,648,050
$2,200,000
$2,200,000
$1,940,000
Kamehame Ridge
$1,452,500
$1,114,000
$1,587,500
$1,152,500
$830,000
$1,268,888
Koko Kai
$2,050,000
$2,660,000
$2,041,500
$2,425,000
$2,520,000
$1,990,000
Lanikai
$2,742,500
$2,297,826
$2,272,500
$1,807,500
$2,745,750
$1,665,000
Makiki Heights
$1,150,000
$1,393,000
$1,360,000
$1,575,000
$1,590,000
$1,125,000
Manoa Area
$1,255,000
$1,279,500
$1,180,000
$1,214,617
$999,000
$1,150,000
Manoa-Woodlawn
$1,333,575
$1,288,000
$1,245,500
$1,134,750
$1,126,500
$1,049,500
Maunalani Heights
$1,248,000
$1,295,000
$1,282,000
$1,100,000
$981,500
$1,150,000
Napali Haweo
$1,814,500
$1,900,000
$1,445,000
$1,650,000
$1,660,000
$1,670,000
Niu Beach
$1,325,000
$4,300,000
$2,200,000
$3,420,000
$2,408,000
$4,050,000
$845,000
$755,000
$750,000
$747,500
$637,000
$595,000
North Shore Pacific Heights
$1,400,000
$968,000
$1,002,260
$999,000
$1,499,000
$752,500
Paiko Lagoon
$5,800,000
$3,327,500
$1,000,000
$1,155,000
$2,400,000
$1,050,000
Portlock
$1,512,500
$2,650,000
$2,332,500
$2,700,000
–
$2,875,000
Puupanini
$1,487,500
$3,889,000
$1,025,000
$998,500
$1,299,000
$872,000
Tantalus
$1,326,000
$1,110,000
$1,262,500
$1,700,000
$1,050,000
$1,108,000
Triangle
$1,419,000
$835,000
$1,465,000
$1,312,500
$1,225,000
$1,215,000
Waialae Golf Course
$3,197,500
$2,510,000
$1,999,999
$2,410,000
$2,125,000
$3,350,000
Waialae Iki
$1,725,000
$1,662,500
$1,667,500
$1,630,000
$1,625,000
$1,487,500
Waialae Nui Ridge
$1,520,000
$1,400,000
$1,525,000
$1,362,500
$1,248,888
$1,220,000
Wailupe Area
$3,900,000
$2,500,000
$2,100,000
$1,770,000
$2,200,000
$1,775,000
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
710
796
100 641
608 471
$800 THOUSAND - $1 MILLION
$2 - $3 MILLION
496
99
111
84
319
74
64
213
242
236
165 120
2013
+5.3%
+22.6%
+16.8%
+12.1%
2014
2015
2016
2017
2018 YTD
$3 - $5 MILLION
+56.3%
-16.0%
+17.9%
+12.1%
2014
2015
2016
2017
2013
2018 YTD
$5 MILLION +
2013
+37.5%
+29.1%
+13.6%
+31.8%
2014
2015
2016
2017
2018 YTD
$1 MILLION + 662
46
23
51 43 37
32
32
16
14
18
16
14
336 150
2013
+43.8%
-6.5%
-14.0%
+37.8%
2014
2015
2016
2017
2018 YTD
+14.3%
+12.5%
-11.1%
-12.5%
2014
2015
2016
2017
2013
All Data from the HiCentral MLS, Ltd. Report © 2018 ShowingTime.
2018 YTD
2013
182
285
164
+21.3%
-9.9%
+104.9%
+97.0%
2014
2015
2016
2017
2018 YTD
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