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 broken down into four single-family home categories and two condominium price segments. Single-family home sales for Q1 2021 priced from $1 to $2 million increased 70.6% compared to Q1 2020, with 307 homes sold in the quarter versus 180 homes sold during the same period a year ago. Months’ supply of inventory decreased 50% compared to last year, to just 3 months. For single-family homes in the $2 to $3 million range, sales increased from 25 homes sold in Q1 2020 to 55 homes in Q1 2021, an increase of 120% from the year prior. Months’ supply of inventory decreased 45.9% to 6.6 months for the quarter.
In the $3 to $5 million range, 24 single-family homes sold in Q1 2021, an astounding 300% increase compared to the same quarter last year. Months’ supply of inventory declined 44.3% to 9.8 months in Q1 2021. Seven single-family homes sold at or above $5 million in Q1, which includes three in Kahala, two in Diamond Head, one North Shore home, and one Beachside home. The top sale was at $10,400,000 for a home in Diamond Head. Months’ supply of inventory fell from 30.3 months in Q1 2020 to 23.3 months in the first quarter of 2021. As for condominiums, there were three sales in Q1 at or above $5 million, which includes two units at Park Lane and one unit at Anaha. The unit at Anaha was the top sale at $10,250,000. Sales in the $800 thousand to $1 million range increased 88.4% in Q1 2021 from Q1 2020, with 81 closed sales in Q1 2021 versus 43 closed sales in the first quarter last year. Months’ supply of inventory was down 28.1% to 6.4 months. Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through December 2020.
2020
#
$
JAPAN
9
CANADA
3
KOREA
2019
#
$
$14,331,133
JAPAN
68
$98,359,775
$3,689,000
KOREA
10
$14,187,000
2
$3,030,000
HONG KONG
5
UNITED KINGDOM
1
$1,925,000
CANADA
SINGAPORE
1
$1,803,100
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
13
CANADA
4
SINGAPORE GUAM NEW ZEALAND
2019
#
$
$48,241,333
JAPAN
33
$116,429,433
JAPAN
57
$220,699,504
JAPAN
63
$268,891,006
$11,755,000
KOREA
4
$10,220,900
KOREA
5
$24,808,800
HONG KONG
11
$66,957,353
2
$11,800,000
SINGAORE
2
$6,802,000
HONG KONG
3
$12,145,800
SINGAPORE
7
$33,980,786
2
$6,925,000
CANADA
1
$3,635,000
SINGAPORE
2
$18,403,800
CHINA
4
$16,244,754
2
$5,800,000
MALAYSIA
1
$2,400,000
CANADA
2
$5,848,800
KOREA
5
$15,740,000
All Data from the HiCentral MLS, Ltd. Report © 2021 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 +
2016
710
99
37
17
242
336
2017
795
111
51
14
319
662
2018
848
96
46
28
285
352
2019
832
98
40
23
261
311
2020
970
114
55
26
179
186
2021 YTD
307
55
24
7
81
79
2016
$1.25
$2.30
$3.65
$6.59
$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
$1.27
$2.33
$3.50
$6.80
$0.88
$1.32
2021 YTD
$1.25
$2.38
$3.51
$6.55
$0.88
$1.25
Q1 2016
6.7
14.9
22.2
37.3
7.8
18.6
Q1 2017
5.7
10.1
23.4
32.3
5.9
9.2
Q1 2018
5.3
11.6
12.8
27.8
5.6
6.2
Q1 2019
5.3
11.6
13.0
27.4
8.9
13.6
Q1 2020
6.0
12.2
17.6
30.3
8.9
11.3
Q1 2021
3.0
6.6
9.8
23.3
6.4
16.0
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO $1 Million +
HISTORICAL GRAPH Q1 2018
Q1 2019
Q1 2020
Q1 2021
Q1 2019
Q1 2020
Q1 2021
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM $1 Million +
HISTORICAL GRAPH Q1 2018
Closed Sales Median Sales Price Months Supply of Inventory
All Data from the HiCentral MLS, Ltd. Report © 2021 ShowingTime.
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Continued from Page 1
Sales for condos priced at $1 million and higher increased 21.5% in Q1 2021 compared to Q1 2020, from 65 sales reported in Q1 2020 to 79 sales reported in Q1 2021. Months’ supply of inventory increased 41.6% compared to Q1 2020, to 16 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 FOR SINGLE FAMILY HOMES
THROUGH FIRST QUARTER 2021
2021 YTD Median Sales Price
2020 Median Sales Price
2019 Median Sales Price
2018 Median Sales Price
2017 Median Sales Price
2016 Median Sales Price
--
$1,225,000
$1,222,000
$10,772,500
$1,400,000
$1,200,000
Beachside
$3,000,000
$3,200,000
$2,000,000
$2,800,000
$2,094,000
$2,537,500
Black Point
$6,325,000
$1,360,000
$4,025,000
$2,500,000
--
$2,175,000
Diamond Head
$2,318,390
$2,900,000
$2,530,000
$2,990,000
$2,375,000
$3,200,000
Dowsett
$1,507,500
$1,350,000
$1,134,000
$1,745,000
$1,622,500
$1,350,000
Hawaii Loa Ridge
$2,569,000
$2,084,000
$2,100,000
$2,175,000
$2,430,000
$2,200,000
--
$1,330,000
$1,236,250
$1,272,500
$1,269,000
$1,050,000
$3,206,500
$2,600,000
$2,617,500
$2,600,000
$2,435,000
$2,648,050
--
--
--
$1,437,500
$1,050,000
--
Kamehame Ridge
$1,205,000
$1,930,000
$1,495,000
$1,750,000
$1,114,000
$1,587,500
Koko Kai
$3,600,000
$2,325,000
$2,392,500
$2,025,000
$2,660,000
$2,041,500
Lanikai
$1,862,500
$2,183,000
$2,200,000
$3,200,000
$2,297,826
$2,272,500
Makiki Heights
$1,472,500
$1,300,000
$1,300,000
$1,125,000
$1,393,000
$1,360,000
Manoa Area
$1,545,000
$1,322,500
$1,249,000
$1,262,500
$1,279,500
$1,180,000
Manoa-Woodlawn
$1,600,000
$1,314,000
$1,093,750
$1,312,500
$1,288,000
$1,245,500
Maunalani Heights
$1,230,000
$1,275,000
$1,275,300
$1,276,500
$1,295,000
$1,282,000
Napali Haweo
$2,285,000
$1,957,000
$1,414,500
$1,710,000
$1,900,000
$1,445,000
Niu Beach
$3,250,000
$2,357,000
$3,770,000
$1,325,000
$4,300,000
$2,200,000
$812,500
$1,005,000
$785,000
$889,500
$755,000
$750,000
Pacific Heights
$1,650,000
$1,580,500
$1,060,000
$1,140,000
$968,000
$1,002,260
Paiko Lagoon
$3,112,500
$1,302,000
$1,075,000
$3,344,000
$3,327,500
$1,000,000
Portlock
$2,425,000
$3,000,000
$2,500,000
$1,525,000
$2,650,000
$2,332,500
--
$1,425,000
$1,075,000
$1,487,500
$3,889,000
$1,025,000
Tantalus
$1,055,000
$1,950,000
$1,020,000
$1,326,000
$1,110,000
$1,262,500
Triangle
$1,275,000
$1,195,000
$1,457,625
$1,400,000
$835,000
$1,465,000
Waialae Golf Course
$2,400,000
$2,153,750
$1,950,000
$3,197,500
$2,510,000
$1,999,999
Waialae Iki
$2,408,750
$1,532,500
$1,650,000
$1,725,000
$1,656,250
$1,685,000
Waialae Nui Ridge
$1,165,000
$1,450,000
$1,347,000
$1,525,000
$1,400,000
$1,525,000
Wailupe Area
$3,000,000
$2,200,000
$1,582,500
$2,775,000
$2,500,000
$2,100,000
Neighborhoods Aina Haina Beach
Hillcrest Kahala Area Kakaako
North Shore
Puupanini
dash = no sales in the time period
All Data from the HiCentral MLS, Ltd. Report © 2021 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 © 2021 ShowingTime.
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