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 Oahu luxury home market report is listed into four single-family home categories and two condominium price segments. Single-family home sales for Q3 2020 priced from $1 to $2 million increased 20.5% compared to Q3 2019, with 282 homes sold in the quarter. With the increase in sales, months’ supply of inventory decreased 25.1% compared to 5.1 months last year. For single-family homes in the $2 to $3 million range, sales increased from 31 in Q3 2019 to 32 for Q3 2020, an increase of 3.2% from the year prior. Months’ supply of inventory decreased 20.8% to 11.1 months for the quarter.
sold in the third quarter. Months’ supply of inventory declined to 15.1 months from 19.3 months in Q3 2019. Seven single-family homes sold at or above $5 million in Q3 which includes four Windward Oahu homes, two Kahala homes, and one Sunset Area home. The top sale was at $10,488,000 for a home in Beachside. As for condominiums, four units closed in Q3 at or above $5 million which includes three units at Park Lane and one unit at The Ritz-Carlson Residences. The top sale was at $8,300,000 for a unit at Park Lane. Sales in the $800 thousand to $1 million range for Q3 2020 declined 53.4 percent from Q3 2019, falling to just 34 closed sales in Q3 from 73 closed sales in the third quarter last year. Months’ supply of inventory was up 22.7% to 10.4 months.
Twenty-three single-family home sales priced from $3 to $5 million sold in Q3 2020, a near-doubling compared to last year’s twelve homes
Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through June 2020.
2020
#
$
JAPAN
5
CANADA
3
KOREA
2019
#
$
$8,400,000
JAPAN
68
$98,359,775
$3,689,000
KOREA
10
$14,187,000
2
$3,030,000
HONG KONG
5
UNITED KINGDOM
1
$1,803,100
CANADA
SINGAPORE
1
$1,150,000
TAIWAN
2018
#
$
JAPAN
133
KOREA
9
$8,809,000
TAIWAN
4
$6,106,000
CANADA
2
$2,443,000
2017
#
$
$188,796,404
JAPAN
82
$111,518,829
$13,176,500
CHINA
10
$14,214,165
8
$10,728,600
KOREA
3
$4,430,000
8
$10,575,100
TAIWAN
3
$3,466,758
CHINA
5
$6,057,400
CANADA
2
$2,875,000
2018
#
$
2017
#
$
$2 MILLION + 2020
#
$
JAPAN
8
SINGAPORE
2
CANADA HONG KONG NEW ZEALAND
2019
#
$
$36,141,333
JAPAN
33
$116,429,433
JAPAN
57
$220,699,504
JAPAN
63
$268,891,006
$11,800,000
KOREA
4
$10,220,900
KOREA
5
$24,808,800
HONG KONG
11
$66,957,353
2
$4,575,000
SINGAORE
2
$6,802,000
HONG KONG
3
$12,145,800
SINGAPORE
7
$33,980,786
1
$5,850,000
CANADA
1
$3,635,000
SINGAPORE
2
$18,403,800
CHINA
4
$16,244,754
1
$2,800,000
MALAYSIA
1
$2,400,000
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
641
72
36
16
121
141
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
$2.38
$3.47
$6.88
$0.88
$1.44
Q3 2015
7.3
14.0
25.1
37.5
8.9
16.8
Q3 2016
7.0
11.7
27.2
26.5
7.0
16.0
Q3 2017
6.0
9.2
15.5
41.1
5.4
7.0
Q3 2018
6.7
12.5
18.9
21.3
5.4
6.3
Q3 2019
6.8
14.0
19.3
40.9
8.5
13.1
Q3 2020
5.1
11.1
15.1
26.0
10.4
17.3
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 for condos priced at $1 million and higher dropped 41.5% compared to last year at this time, from 82 sales during Q3 2019 to just 48 during Q3 2020. Months’ supply of inventory increased 32.6% compared to Q3 2019, to 17.3 months. Remember every home and situation is unique. Feel free to contact us for guidance with your current or future home sale or purchase, 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 updates. Sign up for our monthly market newsletter and more at: www.ListSothebysRealty.com or www.ListHawaii-mls.com
OAHU LUXURY NEIGHBORHOOD DETAIL FOR SINGLE FAMILY HOMES
THROUGH THIRD 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
Aina Haina Beach
$1,174,444
$1,222,000
$10,772,500
$1,400,000
$1,200,000
$1,395,000
Beachside
$3,600,000
$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
$2,900,000
$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
$1,980,000
$2,100,000
$2,175,000
$2,430,000
$2,200,000
$2,100,000
Hillcrest
$1,477,000
$1,236,250
$1,272,500
$2,435,000
$2,648,050
$2,200,000
Kahala Area
$2,850,000
$2,617,500
$2,600,000
$2,648,050
$2,200,000
$2,200,000
–
-
$1,437,500
$1,050,000
–
–
Kamehame Ridge
$1,865,000
$1,495,000
$1,750,000
$1,114,000
$1,587,500
$1,152,500
Koko Kai
$1,800,000
$2,392,500
$2,025,000
$2,660,000
$2,041,500
$2,425,000
Lanikai
$1,925,000
$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
$1,405,000
$1,249,000
$1,262,500
$1,279,500
$1,180,000
$1,214,617
Manoa-Woodlawn
$1,301,500
$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
Napali Haweo
$2,428,500
$1,414,500
$1,710,000
$1,900,000
$1,445,000
$1,650,000
Niu Beach
$2,144,500
$3,770,000
$1,325,000
$4,300,000
$2,200,000
$3,420,000
$910,000
$785,000
$889,500
$755,000
$750,000
$747,500
Pacific Heights
$1,257,500
$1,060,000
$1,140,000
$968,000
$1,002,260
$998,500
Paiko Lagoon
$1,302,000
$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
Puupanini
$1,206,250
$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
$930,000
$1,457,625
$1,400,000
$835,000
$1,465,000
$1,312,500
Waialae Golf Course
$2,153,750
$1,950,000
$3,197,500
$2,510,000
$1,999,999
$2,410,000
Waialae Iki
$1,479,500
$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
$1,875,000
$1,582,500
$2,775,000
$2,500,000
$2,100,000
$1,770,000
Neighborhoods
Kakaako
North Shore
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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