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.
Single-family home sales for Q4 2024 priced from $2 to $3 million increased 21.9% compared to Q4 2023, with 39 homes sold in the quarter as compared to 32 homes in the same period a year ago.
Months’ supply of inventory decreased 21.1% compared to last year, falling to 6.0 months in Q4 2024 from 7.6 months in Q4 2023.
For single-family homes in the $3 to $5 million range, sales rose from 14 in Q4 2023 to 19 in Q4 2024, an increase of 35.7% from the same time last year. Months’ supply of inventory increased 15.6% to 12.6 months from 10.9 months last year.
In the $5 to $10 million range, four single-family homes sold in Q4 2024, down half from the eight homes sold during the same quarter
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last year. Months’ supply of inventory increased 78.5% to 19.1 months from 10.7 months in Q4 2023.
There was one single family home sold at or above $10 million in Q4. It was a home in Diamond Head that sold for $14,500,000.
Months’ supply of inventory decreased from 20 months in Q4 2023 to 18.7 months in the fourth quarter of 2024.
Condo sales in the $1 to $2.5 million range increased 3.6% in Q4 2024 from Q4 2023, with 87 closed sales in fourth quarter versus 84 closed sales in the fourth quarter the year prior. Months’ supply of inventory increased to 10.3 months from 7.9 months in Q4 2023.
Eighteen condos priced at $2.5 million and higher sold in Q4 2024, an increase of 28.6% compared to the fourteen sales in Q4 2023. Months’ supply of inventory increased 24.4% compared to Q4 2023, to 21.9 months, from 17.6 months the same quarter last year.
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One condo sold at or above $5 million in Q4. It was a unit at Victoria Place that sold for $5,000,000.
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.
