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 singlefamily home categories and two condominium price segments.
Single-family home sales for Q2 2024 priced from $2 to $3 million increased 8.3% compared to Q2 2023, with 52 homes sold in the quarter as compared to 48 homes in the same period a year ago.
Months’ supply of inventory increased 22.4% compared to last year, rising to 7.1 months in Q2 2024 from 5.8 months in Q2 2023.
For single-family homes in the $3 to $5 million range, sales rose from 14 in Q2 2023 to 20 in Q2 2024, increasing 42.9% from the same time last year. Months’ supply of inventory increased 19.8% to 12.7 months from 10.6 months last year.
FOREIGN INVESTMENT
In the $5 to $10 million range, eight single-family homes sold in Q2 2024, two fewer than the ten homes sold during the same quarter last year. Months’ supply of inventory decreased 20.8% to 14.1 months from 17.8 months in Q2 2023.
There was one single-family home sold at or above $10 million in Q2 2024, which is one more than the zero sold in Q2 2023.
Months’ supply of inventory increased 37.5%, from 12.0 months in Q2 2023 to 16.5 months in the second quarter of 2024.
Condo sales in the $1 to $2.5 million range increased 26.3% in Q2 2024 from Q2 2023, with 120 closed sales in second quarter this year versus 95 closed sales in the second quarter last year.
Months’ supply of inventory increased 15.1% to 10.7 months from 9.3 months in Q2 2023.
Sales for condos priced at $2.5 million and higher rose slightly in Q2 2024 to fifteen, compared to thirteen sales in Q2 2023, an increase of 26.3%. Months’ supply of inventory decreased 6.5% compared to Q2 2023, to 14.4 months, from 15.4 months the same quarter last year.
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.
