Aloha
and welcome to The Oahu 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 single-family home and two condominium price segments. Single-family home sales for Q3 2019 priced from $1 to $2 million decreased 2.5% compared to Q3 2018, with 234 homes sold. Months’ supply of inventory increased 6.8% compared to last year at this time to 7.2 months. For single-family homes in the $2 to $3 million range, sales were even with the mark of 31 from the year prior. Months’ supply of inventory increased 18.3% to 14.8 months for the quarter.
The twelve single-family home sales priced from $3 to $5 million was an increase of 9.1% compared to last year’s eleven homes sold. Months’ supply of inventory had a year-over-year increase of 8.4% to 20.2 months. Eight single-family homes sold at or above $5 million in Q3 2019, including four East Oahu homes and four Windward Oahu homes. The top sale was at $14,800,000 for a home in Lanikai. As for condominiums, two units closed in Q3 2019 at or above $5 million. The top sale was at $10,000,000 for a unit at Park Lane. Sales in the $800 thousand to $1 million range for Q3 2019 were down 5.2% compared to Q3 2018. The 73 closed sales lagged last year’s 77 sales. Months’ supply of inventory was up 59.7% to 8.7 months. Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through September 2019.
#
$
JAPAN
133
KOREA
9
$8,809,000
TAIWAN
3
$4,351,000
2
$2,443,000
1
$1,402,000
2019
#
$
JAPAN
50
$72,839,775
KOREA
7
$9, 971,000
HONG KONG
5
CANADA TAIWAN CHINA
2018
2017
#
$
2016
#
$
$188,796,404
JAPAN
82
$111,518,829
JAPAN
$13,176,500
CHINA
10
$14,214,165
CANADA
135
$203,375,491
8
8
$10,728,600
KOREA
3
$4,430,000
CHINA
$10,419,000
6
$8,275,100
CANADA
8
$10,575,100
TAIWAN
3
$3,466,758
KOREA
3
$6,118,900
CHINA
5
$6,057,400
CANADA
2
$2,875,000
HONG KONG
4
$5,241,800
2018
#
$
2017
#
$
2016
#
$
JAPAN
57
$220,699,504
JAPAN
63
$268,891,006
JAPAN
78
$333,303,959
KOREA
5
$24,808,800
HONG KONG
11
$66,957,353
HONG KONG
6
$22,209,744
HONG KONG
3
$12,145,800
SINGAPORE
7
$33,980,786
CHINA
5
$20,949,835
SINGAPORE
2
$18,403,800
CHINA
4
$16,244,754
SINGAPORE
4
$14,649,871
CANADA
2
$5,848,800
KOREA
5
$15,740,000
AUSTRALIA
2
$11,627,100
$2 MILLION + 2019
#
$
JAPAN
26
$91,626,433
KOREA
3
$7,940,900
SINGAPORE
2
$6,802,000
MALAYSIA
1
$2,400,000
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
Visit www.ListSothebysRealty.com | 1
SALES ACTIVITY SINGLE-FAMILY
CONDO
Year
$1 - 2 Million
$2 - 3 Million
$3 - 5 Million
$5 Million +
$800,000 $1 Million
$1 Million +
2014
496
100
46
16
165
182
2015
608
84
43
18
213
164
2016
710
99
37
16
242
336
2017
795
111
51
14
319
662
2018
849
96
46
28
285
352
2019 YTD
580
88
36
11
224
359
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
$1.26
$2.36
$3.66
$7.35
$0.89
$1.55
2019 YTD
$1.24
$2.20
$3.66
$6.20
$0.90
$1.48
Q3 2014
7.1
12.3
18.3
38.6
10.7
13.4
Q3 2015
7.3
14.0
25.1
37.0
8.9
16.8
Q3 2016
7.0
11.7
27.2
25.2
7.0
16.0
Q3 2017
6.0
9.2
15.5
41.1
5.4
7.0
Q3 2018
6.7
12.5
18.7
21.6
5.4
6.3
Q3 2019
7.2
14.8
20.2
42.3
8.7
13.8
Metric
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO $1 Million +
HISTORICAL GRAPH Q3 2016
Q3 2017
Q3 2018
Q3 2019
Q3 2017
Q3 2018
Q3 2019
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM $1 Million +
HISTORICAL GRAPH Q3 2016
Closed Sales Median Sales Price Months Supply of Inventory
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
Visit www.ListSothebysRealty.com | 2
Continued from Page 1
Sales for condos priced at $1 million and higher decreased by 12.1% compared to last year at this time, representing a drop from 91 sales during Q3 2018 to 80 during Q3 2019. Months’ supply of inventory increased by 119.3% compared to Q3 2018, rising to 13.8 months. Remember that every home and situation is unique. For guidance with your current or future home, visit listsothebysrealty.com and contact one of our experienced agents. That’s the Oahu Quarterly Luxury Market Report for this quarter. Check back soon for the latest. Sign up for our monthly market newsletter and more at: www.ListSothebysRealty.com or www.ListHawaii-mls.com
OAHU LUXURY NEIGHBORHOOD DETAIL 2019 YTD Median Sales Price
2018 Median Sales Price
Aina Haina Beach
$1,222,000
Beachside
$2,000,000
Black Point
Neighborhoods
Diamond Head
THROUGH THIRD QUARTER 2019
2017 Median Sales Price
2016 Median Sales Price
2015 Median Sales Price
2014 Median Sales Price
$10,772,500
$1,400,000
$1,200,000
$1,395,000
$2,700,000
$2,800,000
$2,094,000
$2,537,500
$2,217,500
$1,922,500
–
$2,500,000
–
$2,175,000
$3,350,000
$1,800,000
$3,000,000
$2,990,000
$2,375,000
$3,200,000
$2,875,000
$2,288,888
Dowsett
$1,210,000
$1,745,000
$1,622,500
$1,350,000
$1,255,000
$1,333,000
Hawaii Loa Ridge
$2,050,000
$2,175,000
$2,430,000
$2,200,000
$2,100,000
$2,540,000
Hillcrest
$1,222,500
$1,272,500
$1,269,000
$1,050,000
$1,061,000
$1,000,000
Kahala Area
$2,837,500
$2,600,000
$2,435,000
$2,648,050
$2,200,000
$2,200,000
–
$1,437,500
$1,050,000
–
–
–
Kakaako Kamehame Ridge
$1,661,944
$1,750,000
$1,114,000
$1,587,500
$1,152,500
$830,000
Koko Kai
$2,485,000
$2,025,000
$2,660,000
$2,041,500
$2,425,000
$2,520,000
Lanikai
$2,144,000
$3,200,000
$2,297,826
$2,272,500
$1,807,500
$2,745,750
Makiki Heights
$1,283,000
$1,125,000
$1,393,000
$1,360,000
$1,575,000
$1,590,000
Manoa Area
$1,293,500
$1,262,500
$1,279,500
$1,180,000
$1,214,617
$999,000
Manoa-Woodlawn
$1,093,750
$1,312,500
$1,288,000
$1,245,500
$1,134,750
$1,126,500
Maunalani Heights
$1,337,000
$1,276,500
$1,295,000
$1,282,000
$1,100,000
$981,500
Napali Haweo
$1,414,500
$1,710,000
$1,900,000
$1,445,000
$1,650,000
$1,660,000
Niu Beach
$3,272,500
$1,325,000
$4,300,000
$2,200,000
$3,420,000
$2,408,000
North Shore
$800,000
$889,500
$755,000
$750,000
$747,500
$637,000
Pacific Heights
$1,060,000
$1,140,000
$968,000
$1,002,260
$999,000
$1,499,000
Paiko Lagoon
$2,286,500
$3,344,000
$3,327,500
$1,000,000
$1,155,000
$2,400,000
Portlock
$2,500,000
$1,525,000
$2,650,000
$2,332,500
$2,700,000
–
Puupanini
$1,100,000
$1,487,500
$3,889,000
$1,025,000
$998,500
$1,299,000
Tantalus
$1,020,000
$1,326,000
$1,110,000
$1,262,500
$1,700,000
$1,050,000
Triangle
$1,550,000
$1,400,000
$835,000
$1,465,000
$1,312,500
$1,225,000
Waialae Golf Course
$2,050,000
$3,197,500
$2,510,000
$1,999,999
$2,410,000
$2,125,000
Waialae Iki
$1,650,000
$1,725,000
$1,662,500
$1,667,500
$1,630,000
$1,625,000
Waialae Nui Ridge
$1,347,000
$1,525,000
$1,400,000
$1,525,000
$1,362,500
$1,248,888
Wailupe Area
$1,540,000
$2,775,000
$2,500,000
$2,100,000
$1,770,000
$2,200,000
dash = no sales in the time period
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
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List Sotheby’s International Realty 4211 Waialae Avenue, Suite 100 | Honolulu, HI 96816 (808) 735-2411
ARTFULLY UNITING EXCEPTIONAL HAWAII HOMES WITH EXTRAORDINARY LIVES
SALES ACTIVITY CONDOMINIUM
SINGLE FAMILY $1 - $2 MILLION
608
$800 THOUSAND - $1 MILLION
$2 - $3 MILLION
710
795
848
100
99
96
84
611
319
111 72
496
2014
2015
2016
2017
2018
2019 YTD
$3 - $5 MILLION
46
2015
2016
2017
2018
2019 YTD
2017
2014
2015
2016
2017
2018
2019 YTD
$1 MILLION +
662
46
37
2016
211
165
28
27
2014
2015
$5 MILLION +
51 43
2014
213
285
242
2018
2019 YTD
16
2014
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
18
2015
16
2016
18
2017
2018
2019 YTD
352
336
14
182
164
2014
2015
226
2016
2017
2018
2019 YTD
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