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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