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 Q1 2020 priced from $1 to $2 million increased 4.7% compared to Q1 2019, with 180 homes sold in the quarter. Months’ supply of inventory decreased 8.9% compared to last year at this time to 5.5 months. For single-family homes in the $2 to $3 million range, sales were up a healthy 9 sales to a total of 25 sales for the quarter, an increase of 56.3% from the year prior. Months’ supply of inventory decreased 4.5% to 11.7 months for the quarter.
Just six single-family home sales priced from $3 to $5 million sold in Q1 2020, a decrease of 33.3% compared to last year’s 9 homes sold in the first quarter. Months’ supply of inventory had a year-over-year increase of 14.3% to 19.8 months. Six single-family homes sold at or above $5 million in Q1 2020, an increase of 20% from Q1 2019. Months’ supply of inventory had a 10.4% year-over-year increase to 33.9 months. This included three East Oahu homes, one Windward Oahu home and two North Shore homes. The top sale was at $8,485,000 for a home in Diamond Head. As for condominiums, three units closed in Q1 at or above $5 million. All three were at Park Lane with the top sale at $10,880,000. Sales in the $800 thousand to $1 million range for Q1 2020 were down 17 units, from 60 in Q1 2019 to 43 in Q1 2020.
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FOREIGN INVESTMENT $1 - $2 MILLION 2020
Source: Title Guaranty Hawaii, through March 2020.
#
$
2019
#
$
2018
#
$
2017
#
$
JAPAN
3
$4,950,000
JAPAN
68
$98,359,775
JAPAN
133
$188,796,404
JAPAN
82
$111,518,829
KOREA
2
$3,030,000
KOREA
10
$14,187,000
KOREA
9
$13,176,500
CHINA
10
$14,214,165
5
$8,809,000
CANADA
2
$2,525,000
HONG KONG
TAIWAN
8
$10,728,600
KOREA
3
$4,430,000
SINGAPORE
1
$1,803,100
CANADA
4
$6,106,000
CANADA
8
$10,575,100
TAIWAN
3
$3,466,758
TAIWAN
2
$2,443,000
CHINA
5
$6,057,400
CANADA
2
$2,875,000
2018
#
$
2017
#
$
JAPAN
57
$220,699,504
JAPAN
63
$268,891,006
$2 MILLION + 2020
#
$
JAPAN
2
$19,225,000
SINGAPORE
2
$11,800,000
NEW ZEALAND
1
$2,800,000
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
CANADA
1
$3,635,000
HONG KONG
3
$12,145,800
SINGAPORE
7
$33,980,786
MALAYSIA
1
$2,400,000
SINGAPORE
2
$18,403,800
CHINA
4
$16,244,754
MARIANA ISLANDS
1
$2,500,000
CANADA
2
$5,848,800
KOREA
5
$15,740,000
All Data from the HiCentral MLS, Ltd. Report © 2020 ShowingTime.
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