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. Closed sales for the second quarter of 2020 were down in almost every segment due to the impact from COVID-19. Single-family home sales for Q2 2020 priced from $1 to $2 million decreased 12.7% compared to Q2 2019, with 179 homes sold in the quarter. Even with lower sales, months’ supply of inventory decreased 14.5% compared to last year at this time to 5.9 months.
For single-family homes in the $2 to $3 million range, sales declined from 25 sales in Q2 2019 to 15 sales for Q2 2020, a decrease of 40% from the year prior. Months’ supply of inventory increased 13.6% to 14.2 months for the quarter. Seven single-family home sales priced from $3 to $5 million sold in Q2 2020, a slight increase compared to last year’s six homes sold in the second quarter. Months’ supply of inventory declined slightly from 19.8 months in Q2 2019 to 19.4 months in Q2 2020. Three single-family homes sold at or above $5 million in Q2 2020, two fewer than in Q2 2019, including two Beachside homes and one Sunset Area home. The top sale was at $18,700,000 for a home in Beachside. Months’ supply of inventory declined from 36.5 months in Q2 2019 to 30.4 months in the most recent quarter. As for condominiums, there was one sale in Q2 at or above $5 million, a unit in Park Lane that sold for $5,850,000. Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through March 2020.
2020
#
$
JAPAN
3
$4,950,000
KOREA
2
$3,030,000
2019
#
$
JAPAN
68
$98,359,775
KOREA
10
$14,187,000
5
2018
#
$
JAPAN
133
KOREA
9
$8,809,000
2017
#
$
$188,796,404
JAPAN
82
$111,518,829
$13,176,500
CHINA
10
$14,214,165
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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SALES ACTIVITY SINGLE-FAMILY Metric
CONDO
Year
$1 - 2 Million
$2 - 3 Million
$3 - 5 Million
$5 Million +
$800,000 $1 Million
$1 Million +
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
832
98
40
23
261
310
2020 YTD
359
40
13
9
87
93
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
$1.25
$2.30
$3.70
$5.80
$0.89
$1.50
2020 YTD
$1.28
$2.33
$3.45
$6.80
$0.88
$1.43
Q2 2015
7.1
12.6
24.6
33.0
7.5
13.5
Q2 2016
6.7
14.9
22.2
37.3
7.8
18.6
Q2 2017
5.7
10.1
23.4
32.3
5.9
9.2
Q2 2018
5.3
11.6
12.8
27.8
5.6
6.2
Q2 2019
6.0
12.2
17.3
30.7
8.9
13.6
Q2 2020
5.9
14.2
19.4
30.4
9.5
14.4
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO $1 Million +
HISTORICAL GRAPH Q2 2017
Q2 2018
Q2 2019
Q2 2020
Q2 2018
Q2 2019
Q2 2020
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM $1 Million +
HISTORICAL GRAPH Q2 2017
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 in the $800 thousand to $1 million range for Q2 2020 were down 34 units from a year ago, declining 43.6% to 44 units in Q2 2020. Months’ supply of inventory was up 20.3% to 9.5 months. Sales for condos priced at $1 million and higher dropped 67.1% compared to last year at this time, from 85 sales during Q2 2019 to 28 sales during Q2 2020. Months’ supply of inventory increased 10.8% compared to Q2 2019, to 14.4 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.
OAHU LUXURY NEIGHBORHOOD DETAIL Neighborhoods Aina Haina Beach
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THROUGH SECOND QUARTER 2020
2020 YTD Median Sales Price
2019 Median Sales Price
2018 Median Sales Price
2017 Median Sales Price
2016 Median Sales Price
2015 Median Sales Price
-
$1,222,000
$10,772,500
$1,400,000
$1,200,000
$1,395,000
Beachside
$3,100,000
$2,00,000
$2,800,000
$2,094,000
$2,537,500
$2,217,500
Black Point
-
$4,025,000
$2,500,000
-
$2,175,000
$3,350,000
Diamond Head
$2,950,000
$2,530,000
$2,990,000
$2,375,000
$3,200,000
$2,875,888
Dowsett
$1,300,000
$1,134,000
$1,745,000
$1,622,000
$1,350,000
$1,255,000
Hawaii Loa Ridge
$1,927,500
$2,100,000
$2,175,000
$2,430,000
$2,200,000
$2,100,000
Hillcrest
$1,500,000
$1,236,250
$1,272,500
$2,435,000
$2,648,050
$2,200,000
Kahala Area
$2,430,000
$2,617,500
$2,600,000
$2,648,050
$2,200,000
$2,200,000
–
-
$1,437,500
$1,050,000
–
–
Kamehame Ridge
$1,930,000
$1,495,000
$1,750,000
$1,114,000
$1,587,500
$1,152,500
Koko Kai
$1,975,000
$2,392,500
$2,025,000
$2,660,000
$2,041,500
$2,425,000
Lanikai
$1,856,500
$2,200,000
$3,200,000
$2,297,826
$2,272,500
$1,807,500
Makiki Heights
$1,295,000
$1,300,000
$1,125,000
$1,393,000
$1,360,000
$1,575,000
Manoa Area
$1,322,500
$1,249,000
$1,262,500
$1,279,500
$1,180,000
$1,214,617
Manoa-Woodlawn
$1,200,000
$1,093,750
$1,312,500
$1,288,000
$1,245,500
$1,134,750
Maunalani Heights
$1,211,000
$1,275,300
$1,276,500
$1,295,000
$1,282,000
$1,100,000
Kakaako
Napali Haweo
-
$1,414,500
$1,710,000
$1,900,000
$1,445,000
$1,650,000
$2,000,000
$3,770,000
$1,325,000
$4,300,000
$2,200,000
$3,420,000
$845,000
$785,000
$889,500
$755,000
$750,000
$747,500
Pacific Heights
$1,310,000
$1,060,000
$1,140,000
$968,000
$1,002,260
$998,500
Paiko Lagoon
$1,273,500
$1,075,000
$3,344,000
$3,327,500
$1,000,000
$1,155,000
Portlock
$3,150,000
$2,500,000
$1,525,000
$2,650,000
$2,332,500
$2,700,000
$948,750
$1,075,000
$1,487,500
$3,889,000
$1,025,000
$998,500
Tantalus
-
$1,020,000
$1,326,000
$1,110,000
$1,262,500
$1,700,000
Triangle
$734,000
$1,457,625
$1,400,000
$835,000
$1,465,000
$1,312,500
Waialae Golf Course
$2,281,250
$1,950,000
$3,197,500
$2,510,000
$1,999,999
$2,410,000
Waialae Iki
$1,430,673
$1,650,000
$1,725,000
$1,662,500
$1,667,500
$1,630,000
Waialae Nui Ridge
$1,375,000
$1,347,000
$1,525,000
$1,400,000
$1,525,000
$1,362,500
Wailupe Area
$1,900,000
$1,582,500
$2,775,000
$2,500,000
$2,100,000
$1,770,000
Niu Beach North Shore
Puupanini
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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