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.
The thirteen single-family home sales priced from $3 to $5 million was a decrease of 7.1% compared to last year’s fourteen homes sold. Months’ supply of inventory had a year-over-year increase of 16.6% to 18.8 months.
Our report breaks the Oahu luxury home market into four singlefamily home and two condominium price segments.
Five single family homes sold at or above $5 million in Q4 including three East Oahu homes, one Windward Oahu home and one home in Mililani. The top sale was at $17,900,000 for a home in Beachside.
Single-family home sales for Q4 2019 priced from $1 to $2 million increased 6.8% compared to Q4 2018, with 219 homes sold in the quarter. Months’ supply of inventory decreased 3.9% compared to last year at this time to 5.6 months. For single-family homes in the $2 to $3 million range, sales were up 4 sales to a total of 26 sales for the quarter, an increase of 18.2% from the year prior. Months’ supply of inventory increased 1.2% to 12.8 months for the quarter.
As for condominiums, two units closed in Q4 at or above $5 million. The top sale was at $6,550,000 for a unit at Park Lane. Sales in the $800 thousand to $1 million range for Q4 2019 were even with the activity seen in Q4 2018 at 49 sales for the quarter. Months’ supply of inventory was up 18.8% to 8.1 months.
Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through December 2019.
2019
#
$
JAPAN
68
$98,359,775
KOREA
10
$14,187,000
HONG KONG
5
CANADA
4
TAIWAN
2
2018
#
$
JAPAN
133
KOREA
9
$8,809,000
TAIWAN
$6,106,000
CANADA
$2,443,000
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
$10,419,000
8
$10,728,600
KOREA
3
$4,430,000
8
$10,575,100
TAIWAN
3
$3,466,758
CHINA
6
$8,275,100
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
$2 MILLION + 2019
#
$
JAPAN
33
$116,429,433
KOREA
4
$10,220,900
SINGAPORE
2
$6,802,000
KOREA
5
$24,808,800
HONG KONG
11
$66,957,353
HONG KONG
6
$22,209,744
CANADA
1
$3,635,000
HONG KONG
3
$12,145,800
SINGAPORE
7
$33,980,786
CHINA
5
$20,949,835
MALAYSIA
1
$2,400,000
SINGAPORE
2
$18,403,800
CHINA
4
$16,244,754
SINGAPORE
4
$14,649,871
MARIANA ISLANDS
1
$2,500,000
CANADA
2
$5,848,800
KOREA
5
$15,740,000
AUSTRALIA
2
$11,627,100
All Data from the HiCentral MLS, Ltd. Report © 2020 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 +
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
848
96
46
28
285
352
2019 YTD
830
98
40
23
260
310
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
$1.25
$2.30
$3.70
$5.8
$0.89
$1.49
Q4 2014
6.4
9.4
17.0
33.2
7.5
13.8
Q4 2015
6.3
17.6
22.3
37.2
8.2
17.5
Q4 2016
5.4
10.3
22.2
26.6
5.8
10.1
Q4 2017
4.8
10.1
14.1
39.2
5.1
5.9
Q4 2018
5.8
12.6
16.1
23.8
6.9
11.8
Q4 2019
5.6
12.7
19.1
42.4
8.0
11.8
Metric
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO $1 Million +
HISTORICAL GRAPH Q4 2016
Q4 2017
Q4 2018
Q4 2019
Q4 2017
Q4 2018
Q4 2019
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM $1 Million +
HISTORICAL GRAPH Q4 2016
Closed Sales Median Sales Price Months Supply of Inventory
All Data from the HiCentral MLS, Ltd. Report © 2020 ShowingTime.
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Continued from Page 1
Sales for condos priced at $1 million and higher increased by 27.7% compared to last year at this time, representing a climb from 65 sales during Q4 2018 to 83 during Q4 2019. Months’ supply of inventory decreased by a slight 0.5% compared to Q4 2018, to 11.7 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 Diamond Head
Neighborhoods
THROUGH FOURTH 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
$4,025,000
$2,500,000
–
$2,175,000
$3,350,000
$1,800,000
$2,530,000
$2,990,000
$2,375,000
$3,200,000
$2,875,000
$2,288,888
Dowsett
$1,134,000
$1,745,000
$1,622,500
$1,350,000
$1,255,000
$1,333,000
Hawaii Loa Ridge
$2,100,000
$2,175,000
$2,430,000
$2,200,000
$2,100,000
$2,540,000
Hillcrest
$1,236,250
$1,272,500
$1,269,000
$1,050,000
$1,061,000
$1,000,000
Kahala Area
$2,617,500
$2,600,000
$2,435,000
$2,648,050
$2,200,000
$2,200,000
–
$1,437,500
$1,050,000
–
–
–
Kakaako Kamehame Ridge
$1,495,000
$1,750,000
$1,114,000
$1,587,500
$1,152,500
$830,000
Koko Kai
$2,392,500
$2,025,000
$2,660,000
$2,041,500
$2,425,000
$2,520,000
Lanikai
$2,200,000
$3,200,000
$2,297,826
$2,272,500
$1,807,500
$2,745,750
Makiki Heights
$1,300,000
$1,125,000
$1,393,000
$1,360,000
$1,575,000
$1,590,000
Manoa Area
$1,249,000
$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
$1,275,300
$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
$3,770,000
$1,325,000
$4,300,000
$2,200,000
$3,420,000
$2,408,000
$785,000
$889,500
$755,000
$750,000
$747,500
$637,000
Pacific Heights
North Shore
$1,060,000
$1,140,000
$968,000
$1,002,260
$999,000
$1,499,000
Paiko Lagoon
$1,075,000
$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
$1,075,000
$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
$1,457,625
$1,400,000
$835,000
$1,465,000
$1,312,500
$1,225,000
Waialae Golf Course
$1,950,000
$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
$1,582,500
$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 © 2020 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
$2 - $3 MILLION
$800 THOUSAND - $1 MILLION
$3 - $5 MILLION
$5 MILLION +
$1 MILLION +
All Data from the HiCentral MLS, Ltd. Report © 2020 ShowingTime.
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