KAUAI
|
OAHU
|
MAUI
|
HAWAII ISLAND
Luxury Market Report Hawaii, May 2021
About Corcoran Pacific Properties Corcoran Pacific Properties, the exclusive Hawaii franchisee of The Corcoran Group, is a locally owned and operated company, founded in 2005 with a simple philosophy: treating every client as a friend, and every transaction as if it was our own. Over the past 15+ years, honoring this philosophy, we established a culture of service and efficiency fueled by high-tech, smart investments in agents, and the tools they need to deliver world-class service while helping clients achieve their real estate goals. By choosing only the most successful, experienced real estate professionals and dedicating every resource to support their success, we’ve grown to be the brokerage of choice serving Kauai, Oahu, Maui and Hawaii Island. With our clients at the heart of our business, Corcoran Pacific Properties is dedicated to excellence, innovation and to continuously raising the bar when it comes to impeccable service, expert insight and a relationship-first approach.
©2020 Corcoran Pacific Properties. All rights reserved. Corcoran® and the Corcoran Logo are registered service marks owned by Corcoran Group LLC. Corcoran Pacific Properties fully supports the principles ofthe Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated.
At Corcoran Pacific Properties, we dream big. We know that luxury is not a price point, but an experience. Through our commitment to providing first-class support for our 250+ award-winning real estate professionals, we deliver a distinctive and authentic experience to our agents, employees and clients, helping people find the lifestyle they seek. Anton Steenman President & CEO
OAHU OFFICES Kahala Office
4211 Waialae Ave. Suite 106 Honolulu, HI 96816 (800) 315-3898
Kailua Office
419-B Kuulei Rd. Kailua, HI 96816 (800) 315-3898
MAUI OFFICES Wailea Office
34 Wailea Gateway Pl. Suite A-204 Kihei, HI 96753 (800) 315-3898
Turtle Bay Office
57-091 Kamehameha Hwy Kahuku, HI 96731 (800) 315-3898
KAUAI OFFICES Lahaina Office
75 Kupuohi St. Suite 203 Lahaina, HI 96761 (800) 315-3898
Koloa Office
Princeville Office
Mauna Lani Portfolio
Waimea Office
3417 Poipu Rd. Suite 110B Koloa, HI 96756 (800) 315-3898
5-4280 Kuhio Hwy. Suite B-103 Princeville, HI 96722 (800) 315-3898
HAWAII ISLAND OFFICES Hilo Office
64 Keawe St. Suite 203 Hilo, HI 96720 (800) 315-3898
Kona Office
Walua Professional Bldg. 75-5905 Walua Rd. Suite 9 Kailua-Kona, HI 96740 (800) 315-3898
Mauna Lani Auberge Resort 68-1400 Mauna Lani Dr, Suite 108 Waimea, HI 96743 (800) 315-3898
65-1291 Kawaihae Rd. Suite 101 C Kamuela, HI 96743 (800) 315-3898
Table of Contents Page 5
Luxury Report Explained
Page 6
Welcome Message
Page 7-10
North American Luxury Market Review
Page 11
13-Month Market Trends
Page 12
Single-Family Homes Monthly Overview
Page 13
Attached Homes Monthly Overview
Page 23
Hawaii Luxury Market Review
Page 24
Kauai Market review
Page 29
Oahu Market Review
Page 34
Maui Market Review
Page 39
Island of Hawaii Market Review
Page 44
Thank You
Luxury Report Explained The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-squarefoot – to provide you a comprehensive North American Luxury Market report. Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes. It is our intention to include additional luxury markets on a continual basis. If your market is not featured, please contact us so we can implement the necessary qualification process. More indepth reports on the luxury communities in your market are available as well. Looking through this report, you will notice three distinct market statuses, Buyer's Market, Seller's Market, and Balanced Market. A Buyer's Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/ or price point. By contrast, a Seller's Market gives sellers greater control over the price point. Typically, this means there are few homes on the market and a generous demand, causing competition between buyers who ultimately drive sales prices higher. A Balanced Market indicates that neither the buyers nor the sellers control the price point at which that property will sell and that there is neither a glut nor a lack of inventory. Typically, this type of market sees a stabilization of both the list and sold price, the length of time the property is on the market as well as the expectancy amongst homeowners in their respective communities – so long as their home is priced in accordance with the current market value.
Report Glossary REMAINING INVENTORY: The total number of homes available at the close of a month. DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted. LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes. NEW LISTINGS: The number of homes that entered the market during the current month. PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot. SALES RATIO: Sales Ratio defines market speed and determines whether the market currently favors buyers or sellers. Buyer's Market = up to 14%; Balanced Market = 15 to 20%; Seller's Market = 21% plus. If >100%, sales from previous month exceed current inventory. SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.
This is your
Luxury Market Report
W
Map of Luxury Residential Markets
elcome to the Luxury Market Report, your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report provides an in-
depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.
Copyright © 2020 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000 The Luxury Market Report is a monthly analysis provided by The Institute for Luxury Home Marketing. Luxury benchmark prices are determined by The Institute. This active and sold data has been compiled by various sources, including local MLS boards, local tax records and Realtor.com. Data is deemed reliable to the best of our knowledge, but is not guaranteed.
North American Luxury Review A Tale of Three Very Different Spring Markets for Luxury Real Estate This time last year, just over one month after the official announcement of a Covid-19 pandemic in North America, and the luxury real estate market found itself at a standstill. Worries of a crash similar to 2008 were at the forefront of every conversation. One year on and, while many businesses and industries have suffered as a result of the pandemic and despite the many changes to the way we live, work, and socialize, the luxury real estate market has flourished in ways that were unimageable back in April 2020. Not only did it flourish, but expectations are that the luxury market will continue to grow in 2021, as affluent buyers still look for ways to upgrade or relocate their primary residence, searching for less dense communities, larger properties, more amenities, and access to outdoor space. Inventory levels in many luxury markets did not reach their typical levels in the spring of 2020 due to the standstill, but while the number of properties listed has increased comparatively this spring, statistical analysis shows that many are 30-50% below their 10-year averages. Overall, based on the data collected from over 100 luxury markets in North America, the comparative numbers for single-family homes over the last three years confirms this dramatic decrease in inventory. Comparing April 2021 against the same period in 2020 and 2019 there is a decrease of 39.65% and 37.93% respectively. Looking at 3 very different local luxury markets, we start with Miami, Florida. This market typically reports a high level of luxury inventory – as listings are rarely removed from the market until they sell. Miami’s comparative April 2021 numbers for single-family homes show a staggering 47.90% drop in properties listed for sale compared
to April 2020, and a 53.15% drop compared to 2019! Moving west, East Bay, California, another market that reported a high turnover of luxury properties, shows similar numbers. April 2021’s inventory for single-family homes decreased by 34% compared to April 2020 and 56% against 2019! In Canada, Vancouver, similar to many luxury markets across North America, began to show a strong uptick in demand and sales the last months of 2020 and first quarter of 2021. These results created seller confidence and March saw a significant increase in properties entering the market, but by early April 2020 this market too had come to standstill. Look deeper into Vancouver’s real estate statistics for April 2021 and their luxury market is once again booming. While April’s inventory for single-family homes stayed on par with listings, due to the aforementioned upsurge in March 2020, it saw a 32% decrease against April 2019’s numbers. Turning to the number of sales during April 2021, and the growth of the luxury real estate market in North America is further endorsed as statistics show a 69% increase in sales compared to April 2020, but even more dramatic is the significant 86% increase against April 2019. Drilling down again into these three unique markets; Miami sales for single-family homes show an unprecedented rise, a 526.32% increase against April 2020 and 352% increase against April 2019. Miami is traditionally a very international real estate market, but unexpectedly in the last 12 months the uptake has been from national buyers — particularly buyers from the Northeast and California, who have been the largest driving forces behind this demand. In East Bay, the statistics reflect the relocation from the higher priced San Francisco to this secondary market — this occurred mainly due to local employers allowing employees to work from home — offering both opportunity and an enticement to those looking to lower their cost of living. Single-family homes sales in April
2021 rose a staggering 379% against April 2020 and also impressive 67% against 2019. In Vancouver, the numbers show how significantly the pandemic bought the market to a standstill, as April 2020 sales were 60% less than the sales reported in April 2019. Whereas April 2021 reported a 52% increase against April 2019. Also, for the first time in many years, homes valued upwards of $15 million (US) are selling again, and interestingly much of Vancouver’s luxury real estate growth was also due to domestic buyers, rather than international investors. These substantial changes to inventory levels and number of sales consolidate the growth of the luxury real estate market, and many ask if this growth is sustainable. While numbers may increase and decrease over the next coming months, many experts believe that the overall trend for a strong market will continue well into 2021. Low interest rates coupled with profits in the stock market as well as people having amassed large amounts of personal savings during the last year, means that there is a lot of money still available to invest in real estate. It’s important to remember that this growth has for the most part been driven without any help from foreign buyers or investors – so when international travel and immigration resumes, this could well create a second boom in the North American property market. In particular, communities that have handled the pandemic well will very likely be targeted for their future investment potential, both as a safe haven but also in the expectation of further price increases. There are also millennials (aged 25-39 in 2021), who now are commanding a larger representation in the luxury real estate market. Many are using the opportunity of snagging a low-interest mortgage. A new generation of affluent, who have benefitted from being in a COVID growth industry such as high tech, gaming, or pharmaceutical, has also arisen. While others have seen their stock portfolio grow. Finally, let’s not forget that baby boomers have already started to transfer a portion of their wealth, estimated $68 trillion, to this generation.
These younger affluent are often bypassing the traditional first home of a city condo, and instead purchasing single-family homes, especially if they have children and are able to work from home, which is also putting a further upward pressure on this segment of the market. Equally, baby boomers have affected home purchases as many have switched gears due to pandemic-related health concerns of living in densely populated areas. Previous trends had seen this demographic, typically empty nesters (aged 50 - 70), moving back into urban luxury condominiums to enjoy a lifestyle full of city amenities. Many have elected to skip this transitional stage, instead buying their ultimate retirement property now, purchasing in secondary or resort communities. Typically, the answer to high demand is to build new homes that meet the current requirements, and for the most part it seems that home builders and new developers are rising to the challenge. Existing new developments are also reacting to this demand and early signs are that plans are being re-developed and adjusted to match the demand for more outdoor areas, private space, as well as amenities such as air-filtration and touchless technology. Finally, looking forward to 2021 it is expected that local governments will be looking to issue more building permits to meet the luxury residential demand in their markets. The art of selling and buying in this market needs a critical and analytical approach, understanding the realities and setting expectations accordingly will ensure that goals are achieved. For homeowners looking to sell their luxury home in today’s market, we recommend working with a Realtor who can capitalize on the preferences of current investors.
13-Month Market Trends For the Luxury North American Market
Single-Family Homes
Attached Homes
Single-Family List Price
Attached List Price
All data is based off median values. Median prices represent properties priced above respective city benchmark prices.
Days on Market
60
40
39 33
39 34
36
34
32
31
33
30
26
28
33
30
33
37
32
30
37
34
35
30
19
10
23
20
20
0 APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
DEC
JAN
FEB
$513 $405
$388
NOV
$402
$379
OCT
$481
$494
$383
$486
$494
$372
$482
$500 $379
$463
$365
$379
$465
$489 $371
$338
$300
$472
$448 $353
$400
$459
$500
$342
Price per Square Foot
$600
MAR
APR
$200
$100
$0 APR
MAY
JUN
JUL
AUG
SEP
Sales Price vs. List Price
$1,900,000 $1,700,000 $1,500,000 $1,300,000 $1,100,000 $900,000 $700,000 $500,000 APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
Discrepancies in previous month statistics between the May 2021 and April 2021 reports are due to the addition of Sonoma County, CA.
APR
Luxury Monthly Market Review A Review of Key Market Differences Year over Year April 2020 | April 2021
Single-Family Homes
Median List Price
Median Sale Price
April 2021
$1,586,500
$1,767,500
96.97%
100.00%
$1,328,750
Median SP/LP Ratio Total Sales Ratio
April 2020
Median Price per Sq. Ft.
13.22% $342
$1,406,250
73.90% $405
April 2020 April 2021 Total Inventory New Listings
46,413
26,640
6,134
19,687
8,678
Total Sold
Median Days on Market Average Home Size
33
12,356
3,765
3,416
Median prices represent properties priced above respective city benchmark prices.
3,678
13,553
New Listings
Total Sold
Med. Sale Price
Days on Market
Sales Ratio
77,500
$
23
61%
Single-Family Homes Market Summary | April 2021 •
Official Market Type: Seller's Market with a 73.90% Sales Ratio.1
•
Homes are selling for an average of 100.00% of list price.
•
The median luxury threshold2 price is $900,000, and the median luxury home sales price is $1,406,250.
•
Markets with the Highest Median Sales Price: Los Angeles Beach Cities ($4,110,444), Naples ($4,100,000), Vail ($3,900,000), and Palm Beach Towns ($3,897,500).
•
Markets with the Highest Sales Ratio: East Bay (368%), GTA-Durham (257%), Ada County (244%) and Austin (226%). Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from
1
previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.
10
Luxury Monthly Market Review A Review of Key Market Differences Year over Year April 2020 | April 2021
Attached Homes Median List Price
Median Sale Price
April 2021
$984,500
$1,090,000
98.26%
100.00%
$876,875
Median SP/LP Ratio Total Sales Ratio
April 2020
Median Price per Sq. Ft.
11.33% $459
$910,000 49.66% $513
April 2020 April 2021 Total Inventory New Listings
16,686
12,238
1,891
6,077
2,753
Total Sold
Median Days on Market Average Home Size
30
2,027
4,526
1,932
Median prices represent properties priced above respective city benchmark prices.
1,773 New Listings
4,186 Total Sold
Med. Sale Price
Days on Market
33,125
$
10
38%
Sales Ratio
Attached Homes Market Summary | April 2021 •
Official Market Type: Seller's Market with a 49.66% Sales Ratio.1
•
Attached homes are selling for an average of 100.00% of list price.
•
The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $910,000.
•
Markets with the Highest Median Sales Price: Vail ($3,155,000), San Francisco ($2,375,000), Park City ($2,066,644), and Greater Boston ($2,044,500).
•
Markets with the Highest Sales Ratio: Ada County (400%), GTA-Durham (258%), East Bay (245%) and Ventura County (215%). Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from
1
previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.
20
Luxury Monthly Market Review Single-Family Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Calgary
$1,195,000
$999,995
543
354
259
21
Seller's
AZ
Paradise Valley
$4,695,000
$3,200,000
121
42
63
45
Seller's
AZ
Phoenix
$1,049,450
$791,000
246
146
305
26
Seller's
AZ
Scottsdale
$2,500,000
$1,650,000
316
123
262
32
Seller's
AZ
Tucson
$849,000
$666,000
325
119
292
6
Seller's
BC
Greater Victoria
$2,400,000
$2,034,000
89
54
8
19
Buyer's
BC
Okanagan Valley
$1,787,000
$1,400,000
348
201
151
21
Seller's
BC
Vancouver
$4,880,000
$3,000,000
829
415
161
9
Balanced
CA
Central Coast
$3,922,500
$2,500,000
152
65
99
9
Seller's
CA
East Bay
$2,499,500
$1,925,000
185
167
680
7
Seller's
CA
Lake Tahoe
$1,785,000
$1,500,000
28
13
28
9
Seller's
CA
Los Angeles Beach Cities
$5,500,000
$4,110,444
345
116
120
15
Seller's
CA
Los Angeles City
$5,250,000
$3,550,000
734
252
209
28
Seller's
CA
Los Angeles The Valley
$2,999,999
$2,325,000
291
165
265
14
Seller's
CA
Marin County
$3,995,000
$3,550,000
63
18
14
4
Seller's
CA
Napa County
$3,472,500
N/A
88
14
0
N/A
Buyer's
CA
Orange County
$3,499,999
$2,300,000
595
208
544
12
Seller's
CA
Palm Springs/Palm Desert
$2,795,000
$1,557,500
153
58
176
34
Seller's
CA
Placer County
$1,145,000
$957,500
169
53
102
6
Seller's
CA
Sacramento
$875,000
$801,650
427
120
374
6
Seller's
CA
San Diego
$3,145,000
$1,820,000
429
180
587
7
Seller's
CA
San Francisco
$5,100,000
$3,510,000
104
32
106
10
Seller's
CA
San Luis Obispo County
$1,950,000
$1,330,000
120
55
81
N/A
Seller's
CA
Santa Barbara
$4,495,000
$3,080,000
145
56
88
11
Seller's
CA
Silicon Valley
$5,499,444
$3,102,000
292
168
461
7
Seller's
CA
Sonoma County
$2,472,500
$1,732,500
202
58
86
34
Seller's
State
Market Name
AB
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Single-Family Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Ventura County
$2,812,000
$1,787,500
150
77
156
22
Seller's
CO
Boulder
$2,525,000
$1,775,000
126
56
121
40
Seller's
CO
Colorado Springs
$1,249,000
$865,000
109
69
109
4
Seller's
CO
Denver
$1,499,900
$1,020,000
337
260
638
4
Seller's
CO
Douglas County
$1,745,000
$1,115,000
90
65
172
5
Seller's
CO
Durango
$1,799,500
$1,212,500
64
25
18
74
Seller's
CO
Summit County
$3,172,500
$1,900,000
18
6
16
4
Seller's
CO
Vail
$6,500,000
$3,900,000
67
11
15
162
Seller's
CT
Central Connecticut
$678,000
$642,500
310
100
136
42
Seller's
CT
Coastal Connecticut
$2,295,000
$1,552,000
737
281
264
49
Seller's
DC
Washington D.C.
$3,999,700
$2,640,000
56
23
23
7
Seller's
FL
Boca Raton/Delray Beach
$2,950,000
$1,900,000
220
92
117
21
Seller's
FL
Coastal Pinellas
$1,594,500
$1,458,500
18
12
32
14
Seller's
FL
Greater Fort Lauderdale
$1,700,000
$1,057,500
665
262
402
24
Seller's
FL
Jacksonville Beaches
$1,570,000
$1,360,000
108
60
87
18
Seller's
FL
Lee County
$1,599,000
$1,406,250
225
92
166
32
Seller's
FL
Miami
$1,585,000
$1,200,000
707
241
300
51
Seller's
FL
Naples
$5,050,000
$4,100,000
90
33
84
42
Seller's
FL
Orlando
$1,667,500
$1,462,500
234
91
130
38
Seller's
FL
Palm Beach Towns
$4,500,000
$3,897,500
112
57
76
29
Seller's
FL
Sarasota & Beaches
$1,750,000
$1,500,000
87
45
109
6
Seller's
FL
South Walton
$2,575,000
$2,095,000
139
68
85
7
Seller's
FL
Tampa
$869,000
$692,000
275
127
322
6
Seller's
FL
Weston
$1,956,450
$945,000
36
10
42
15
Seller's
GA
Atlanta
$1,350,000
$1,015,000
650
292
389
6
Seller's
HI
Island of Hawaii
$2,100,000
$2,001,500
69
27
42
31
Seller's
State
Market Name
CA
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Single-Family Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Kauai
$2,650,000
$1,862,500
85
22
18
18
Seller's
HI
Maui
$4,300,000
$2,460,000
119
26
45
75
Seller's
HI
Oahu
$3,800,000
$2,500,000
158
36
43
28
Seller's
ID
Ada County
$839,995
$750,000
98
86
239
4
Seller's
ID
Northern
$1,249,500
$865,000
166
89
113
55
Seller's
IL
Chicago
$1,549,000
$1,200,000
757
304
412
24
Seller's
IL
DuPage County
$1,201,250
$922,500
338
148
166
25
Seller's
IL
Lake County
$1,199,436
$899,000
332
124
127
41
Seller's
IL
Will County
$789,900
$600,000
137
48
88
7
Seller's
IN
Hamilton County
$1,100,000
$720,000
69
33
102
3
Seller's
MA
Greater Boston
$3,950,000
$2,540,000
115
55
82
36
Seller's
MD
Anne Arundel County
$1,101,450
$900,000
142
61
125
6
Seller's
MD
Montgomery County
$2,099,999
$1,567,500
137
74
144
6
Seller's
MD
Talbot County
$2,645,000
$1,419,000
42
6
15
45
Seller's
MD
Worcester County
$1,350,000
$845,000
33
10
13
19
Seller's
MI
Livingston County
$774,999
$685,000
51
25
13
9
Seller's
MI
Monroe County
$772,900
$574,950
12
2
6
153
Seller's
MI
Oakland County
$849,900
$625,000
519
255
289
11
Seller's
MI
Washtenaw County
$949,000
$850,484
108
48
50
6
Seller's
MI
Wayne County
$799,000
$630,000
165
76
97
8
Seller's
MO
Kansas City
$719,000
$656,325
396
149
282
4
Seller's
MO
St. Louis
$922,000
$781,950
114
63
78
6
Seller's
NC
Charlotte
$1,149,400
$825,000
334
162
393
3
Seller's
NC
Raleigh-Durham
$875,000
$675,000
300
154
465
2
Seller's
NJ
Ocean County
$945,000
$770,000
244
122
169
21
Seller's
NV
Lake Tahoe
$4,299,000
$2,350,000
37
14
2
229
Buyer's
State
Market Name
HI
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Single-Family Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
NV
Las Vegas
$945,000
$725,000
637
326
609
9
Seller's
NV
Reno
$1,900,000
$1,425,000
43
21
43
47
Seller's
NY
Brooklyn
$1,699,000
$1,417,500
291
65
24
171
Buyer's
NY
Nassau County
$1,875,000
$1,425,000
893
285
163
77
Balanced
NY
Suffolk County
$1,554,500
$1,150,000
926
263
204
80
Seller's
ON
GTA - Durham
$1,499,000
$1,240,000
145
208
372
6
Seller's
ON
GTA - York
$2,399,000
$1,850,000
564
504
399
9
Seller's
ON
Oakville
$3,193,500
$2,489,900
98
68
18
10
Balanced
ON
Toronto
$3,650,000
$2,980,000
304
259
201
6
Seller's
TN
Nashville
$1,399,900
$982,590
229
116
350
3
Seller's
TX
Austin
$1,249,999
$865,000
245
211
553
5
Seller's
TX
Collin County
$860,000
$720,000
191
144
355
4
Seller's
TX
Dallas
$1,099,000
$875,000
272
152
273
7
Seller's
TX
Denton County
$800,000
$725,000
145
77
270
4
Seller's
TX
Fort Worth
$1,150,000
$787,500
215
130
304
4
Seller's
TX
Houston
$869,500
$749,500
1,478
632
520
19
Seller's
TX
San Antonio
$949,000
$730,000
181
65
133
33
Seller's
TX
The Woodlands & Spring
$1,124,750
$712,500
169
96
164
9
Seller's
UT
Park City
$4,847,500
$3,300,000
82
19
57
5
Seller's
UT
Salt Lake City
$1,349,000
$965,075
107
57
140
6
Seller's
VA
Arlington & Alexandria
$1,999,000
$1,709,000
71
39
38
5
Seller's
VA
Fairfax County
$2,310,000
$1,495,000
283
132
183
5
Seller's
VA
McLean & Vienna
$2,800,000
$1,652,415
137
54
80
6
Seller's
VA
Richmond
$850,000
$791,000
141
49
115
7
Seller's
WA
Greater Seattle
$1,808,500
$1,620,000
617
371
781
5
Seller's
WA
Seattle
$1,942,000
$1,751,250
130
87
190
6
Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
$1,013,000
$788,000
113
43
12
27
Buyer's
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$800,000
$675,000
117
48
153
31
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Greater Victoria
$999,000
$820,000
122
53
13
25
Buyer's
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,950,000
$1,676,500
803
428
328
8
Seller's
CA
Central Coast
$1,295,000
$1,075,000
11
10
21
10
Seller's
CA
East Bay
$1,050,000
$1,020,000
73
58
179
7
Seller's
CA
Lake Tahoe
$1,785,000
$1,096,275
20
4
16
6
Seller's
CA
Los Angeles Beach Cities
$1,795,000
$1,679,000
160
60
81
9
Seller's
CA
Los Angeles City
$1,750,000
$1,400,000
381
132
92
24
Seller's
CA
Los Angeles The Valley
$839,250
$799,500
46
31
92
10
Seller's
CA
Marin County
$1,247,000
N/A
18
4
0
N/A
Buyer's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,250,000
$935,000
155
90
299
8
Seller's
CA
Palm Springs/Palm Desert
-
-
-
-
-
-
-
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,250,000
$890,000
238
109
332
8
Seller's
CA
San Francisco
$3,000,000
$2,375,000
109
31
53
12
Seller's
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Santa Barbara
$1,812,500
$1,625,000
10
8
18
12
Seller's
CA
Silicon Valley
$1,699,000
$1,550,000
57
35
120
7
Seller's
CA
Sonoma County
$749,000
$715,000
9
3
9
24
Seller's
State
Market Name
AB
Calgary
AZ
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
CA
Ventura County
$899,900
$660,247
13
5
28
21
Seller's
CO
Boulder
$1,010,000
$937,382
50
19
38
36
Seller's
CO
Colorado Springs
-
-
-
-
-
-
-
CO
Denver
$825,000
$650,000
208
101
164
6
Seller's
CO
Douglas County
$559,000
$537,500
2
1
4
14
Seller's
CO
Durango
$849,000
$609,000
9
2
2
91
Seller's
CO
Summit County
$1,250,000
$1,250,000
5
3
5
6
Seller's
CO
Vail
$5,145,000
$3,155,000
72
7
20
45
Seller's
CT
Central Connecticut
-
-
-
-
-
-
-
CT
Coastal Connecticut
$997,500
$612,500
186
46
61
95
Seller's
DC
Washington D.C.
$1,999,900
$1,555,000
183
62
95
6
Seller's
FL
Boca Raton/Delray Beach
$1,325,000
$750,000
214
51
103
44
Seller's
FL
Coastal Pinellas
$1,250,000
$850,000
43
29
67
10
Seller's
FL
Greater Fort Lauderdale
$890,000
$800,000
810
164
193
70
Seller's
FL
Jacksonville Beaches
$1,244,500
$930,000
22
13
25
45
Seller's
FL
Lee County
$838,900
$800,000
98
31
123
35
Seller's
FL
Miami
$1,090,000
$1,100,000
2,002
370
293
182
Buyer's
FL
Naples
$2,145,000
$1,575,000
94
26
124
32
Seller's
FL
Orlando
$799,500
$687,500
66
30
28
10
Seller's
FL
Sarasota & Beaches
$1,987,000
$1,495,000
152
75
127
9
Seller's
FL
South Walton
$1,275,000
$1,318,500
107
20
38
9
Seller's
FL
Tampa
$1,087,450
$599,950
48
23
66
9
Seller's
FL
Palm Beach Towns
$1,890,000
$1,655,000
127
40
101
72
Seller's
FL
Weston
-
-
-
-
-
-
-
GA
Atlanta
$685,000
$599,000
461
177
185
24
Seller's
HI
Island of Hawaii
$3,387,500
$1,406,500
28
11
32
48
Seller's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Kauai
$2,997,000
$1,174,500
47
10
18
38
Seller's
HI
Maui
$2,395,000
$1,700,000
64
13
52
88
Seller's
HI
Oahu
$1,565,000
$1,050,000
282
51
65
26
Seller's
ID
Ada County
$609,900
$553,450
6
7
24
4
Seller's
ID
Northern
-
-
-
-
-
-
-
IL
Chicago
$1,150,000
$937,500
855
300
264
28
Seller's
IL
DuPage County
$750,000
$685,000
51
23
19
23
Seller's
IL
Lake County
-
-
-
-
-
-
-
IL
Will County
-
-
-
-
-
-
-
IN
Hamilton County
-
-
-
-
-
-
-
MA
Greater Boston
$2,598,750
$2,044,500
312
102
80
33
Seller's
MD
Anne Arundel County
$599,000
$565,000
39
21
31
6
Seller's
MD
Montgomery County
$730,429
$744,000
164
70
100
7
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$749,000
$654,900
47
16
69
8
Seller's
MI
Livingston County
-
-
-
-
-
-
-
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$810,000
$560,000
54
17
21
50
Seller's
MI
Washtenaw County
$669,500
$565,000
49
19
13
9
Seller's
MI
Wayne County
$699,000
$583,437
56
13
13
8
Seller's
MO
Kansas City
-
-
-
-
-
-
-
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$764,450
$627,500
154
37
68
23
Seller's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$849,000
$642,500
19
9
14
107
Seller's
NV
Lake Tahoe
$2,622,500
$1,049,000
4
1
1
76
Seller's
State
Market Name
HI
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Las Vegas
-
-
-
-
-
-
-
NV
Reno
-
-
-
-
-
-
-
NY
Brooklyn
$1,399,000
$1,200,000
529
131
69
73
Buyer's
NY
Nassau County
$1,360,407
$1,197,500
135
32
16
83
Buyer's
NY
Suffolk County
$749,999
$595,000
107
52
39
43
Seller's
ON
GTA - Durham
$747,445
$744,800
12
15
31
7
Seller's
ON
GTA - York
$788,888
$771,000
104
124
115
9
Seller's
ON
Oakville
$1,112,000
$1,040,000
34
26
1
15
Buyer's
ON
Toronto
$1,341,900
$1,120,000
446
444
387
8
Seller's
TN
Nashville
$875,000
$699,500
117
42
30
23
Seller's
TX
Austin
$949,900
$723,000
91
50
111
8
Seller's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$957,500
$660,000
128
56
59
18
Seller's
TX
Denton County
-
-
-
-
-
-
-
TX
Fort Worth
-
-
-
-
-
-
-
TX
Houston
$675,000
$615,000
174
72
45
25
Seller's
TX
San Antonio
$699,500
$1,138,083
36
7
2
481
Buyer's
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$2,440,000
$2,066,644
78
20
51
15
Seller's
UT
Salt Lake City
$749,995
$622,500
34
20
44
42
Seller's
VA
Arlington & Alexandria
$1,124,500
$1,000,000
80
43
91
6
Seller's
VA
Fairfax County
$789,990
$695,000
127
88
205
5
Seller's
VA
McLean & Vienna
$1,212,495
$950,000
42
18
25
4
Seller's
VA
Richmond
-
-
-
-
-
-
-
WA
Greater Seattle
$1,168,669
$1,050,000
219
90
131
7
Seller's
WA
Seattle
$1,549,500
$1,242,500
100
34
33
21
Seller's
State
Market Name
NV
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury IS IN
EACH DETAIL. HUBERT DE GIVENCHY
Hawaii
Luxury Market Review Corcoran Pacific Properties is pleased to present a closer look at the luxury real estate market in Hawaii, showcasing detailed statistical analysis of Kauai, Oahu, Maui and the Island of Hawaii for April 2021. As we move into the spring market, the results clearly indicate a seller’s market across all the islands and property types, with the luxury market showing some of the most significant trend changes since the peak of the housing market in 2006. As inventory levels continue to fall and demand remains high, this is driving an escalation in price. As in many other markets across the US, the biggest question being asked is whether this growth is sustainable and for how long? Experts predict that the luxury market will remain strong mainly due to the lack of inventory, but anticipate that demand will probably level off as prices continue to escalate as this ultimately creates its own financial barrier. While the individual islands are all reporting that their real estate markets are favorable to sellers, there are distinct differences in the price ranges most in demand during April. Oahu’s single family home market showed the greatest demand for properties in the $2-$2.25 million range with a sales ratio of 200% (indicating that there were double the amount of sales compared to the number of new listings that month). This was supported by homes selling at an average of 100% of their asking price. In the attached market, the $1-$1.1 million range was the most popular with 50% of listings selling during April, with the average selling price at 98.86% of the asking price. The most active price band in Maui is the $1.7-$1.8 million range that also showed a 200% sales ratio, and was supported by homes selling at an average of 98.21% of the asking price. Maui showed one of the strongest attached property markets with sales nearly equalling the number of properties listed during April, with the average selling price at 99.46% of the asking price. The single family market statistics for Kauai show that $1.3-$1.4 million dollar homes are the most active price band, with a 67% sales ratio and an average selling price of 97.20% of the asking price. With a 300% sales ratio, attached properties in the $900-$950,000 range are selling at 3 times the rate of listings entering the market, at 98.31% of the asking price. High priced single family homes on the Island of Hawaii received the most activity during April, as the price band of $6.2-$7.4 million saw a 200% sales ratio and an average selling price of 98.42%. Whereas, attached properties in the $1-$1.1 million price range sold at a staggering 600% sales ratio, with an average selling price at 98.45%. As always, a real estate expert familiar with local trends is the best resource to navigate a specific market.
May
2021
Kauai Hawaii
KAUAI
Single-Family Homes
Luxury Inventory vs. Sales | April 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,025,000 $6,000,000+ $5,400,000 - $5,999,999 $4,900,000 - $5,399,999
$4,400,000 - $4,899,999 $3,900,000 - $4,399,999
3
0
0
Total Sales: 18 Seller's Market
2 9
0
7
0
$2,600,000 - $2,999,999
9
2
12
1
$1,800,000 - $2,199,999
5
3
$1,600,000 - $1,799,999 $1,500,000 - $1,599,999
2
0
4
2
$1,300,000 - $1,399,999
1
10
5
$1,400,000 - $1,499,999
$1,200,000 - $1,299,999
21%
Total Sales Ratio2:
4
1
$2,200,000 - $2,599,999
85
Total Inventory:
1
0
$3,400,000 - $3,899,999 $3,000,000 - $3,399,999
9
2
2
3 5
0
Beds3
Price
DOM
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0-1 Bedrooms
NA
NA
NA
0
1
0%
2 Bedrooms
$2,550,000
207
3
1
14
7%
3 Bedrooms
$1,687,500
7
3
10
30
33%
4 Bedrooms
$1,862,500
26
4
4
25
16%
5 Bedrooms
$1,852,500
58
4
2
9
22%
6+ Bedrooms
$11,000,000
376
9
1
5
20%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
KAUAI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$2,987,500
$2,007,500 $1,495,000
101
97
$1,700,000
94
90
$1,941,000
$1,875,000
$2,187,500
$2,022,500
$2,375,000 $1,899,500
$1,839,500
$1,862,500
$1,515,000 110
104
91
2
4
1
7
12
9
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
107
18 Oct-20
101
91
15
14
Nov-20
Dec-20
89
84
20
22
14
Jan-21
85
Feb-21
18
Mar-21
Apr-21
Median Data Review | April Total Inventory Apr. 2020
Apr. 2021
101
Total Solds Apr. 2020
Apr. 2021
85 VARIANCE: -16 %
18 VARIANCE: 800 %
Sale Price Per SqFt.
Sale to List Price Ratio
Apr. 2020
Apr. 2021
N/A
786 VARIANCE: N/A $
2
Apr. 2020
96.08%
Sales Price
Apr. 2021
97.20% VARIANCE: 1 %
Apr. 2020
$
2.01m
1.86m VARIANCE: -7 % $
Days on Market Apr. 2020
78
Apr. 2021
18 VARIANCE: -77 %
Kauai Market Summary | April 2021 • The Kauai single-family luxury market is a Seller's Market with a 21% Sales Ratio. • Homes sold for a median of 97.20% of list price in April 2021.
• The most active price band is $1,300,000-$1,399,999, where the sales ratio is 67%. • The median luxury sales price for single-family homes is $1,862,500.
• The median days on market for April 2021 was 18 days, down from 78 in April 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
Apr. 2021
KAUAI
Attached Homes
KAUAI
Luxury Inventory vs. Sales | April 2021 Inventory
Attached Homes
Sales
Luxury Benchmark Price 1: $850,000 $3,700,000+ $3,300,000 - $3,699,999 $2,900,000 - $3,299,999
$2,500,000 - $2,899,999 $2,200,000 - $2,499,999 $1,900,000 - $2,199,999
13
1
6
0
6
0 0 0
Seller's Market Total Sales Ratio2:
1
38%
3
1 1
$1,500,000 - $1,699,999
4
2
$1,300,000 - $1,499,999
4
2 2 2
$1,100,000 - $1,299,999 1
$1,000,000 - $1,099,999
2
$950,000 - $999,999
2 1
$900,000 - $949,999
3
3 2 2
$875,000 - $899,999
1
47
Total Sales: 18
1
0
$1,700,000 - $1,899,999
$850,000 - $874,999
Total Inventory:
0 0
Beds3
Price
DOM
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0-1 Bedrooms
$875,000
3
2
1
1
100%
2 Bedrooms
$1,057,500
230
3
6
16
38%
3 Bedrooms
$1,259,000
16
3
9
15
60%
4 Bedrooms
$1,580,000
0
4
1
10
10%
5 Bedrooms
$8,150,000
0
5
1
3
33%
6+ Bedrooms
NA
NA
NA
0
2
0%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
KAUAI
Attached Homes
13-Month Luxury Market Trend4 Sale Price
$1,225,000
Solds
$1,300,000
$1,223,000
$1,125,000 $900,000
74
Inventory
67
$992,500
$977,000
80
85
$1,055,000
$965,000
$925,004
86
$1,205,000
86
84
76
67
63
49
2
2
1
6
2
Apr-20
May-20
Jun-20
Jul-20
Aug-20
8
5
Sep-20
Oct-20
11
9
Nov-20
Dec-20
$1,062,500
60
15
47
22
16
Jan-21
$1,174,500
Feb-21
18
Mar-21
Apr-21
Median Data Review | April Total Inventory Apr. 2020
Apr. 2021
Apr. 2020
47 VARIANCE: -36 %
18 VARIANCE: 800 %
Sale Price Per SqFt.
Sale to List Price Ratio
Apr. 2021
489
689 VARIANCE: 41 % $
2
Apr. 2020
Sales Price
Apr. 2021
74
Apr. 2020
$
Total Solds
Apr. 2021
Apr. 2020
$
1.23m
1.17m VARIANCE: -4 % $
Days on Market Apr. 2020
97.34%
98.31% VARIANCE: 1 %
75
Apr. 2021
38 VARIANCE: -49 %
Kauai Market Summary | April 2021 • The Kauai attached luxury market is a Seller's Market with a 38% Sales Ratio. • Homes sold for a median of 98.31% of list price in April 2021.
• The most active price band is $900,000-$949,999, where the sales ratio is 300%. • The median luxury sales price for attached homes is $1,174,500.
• The median days on market for April 2021 was 38 days, down from 75 in April 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
Apr. 2021
May
2021
Oahu Hawaii
OAHU
Single-Family Homes
Luxury Inventory vs. Sales | April 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,875,000 $9,250,000+ $8,250,000 - $9,249,999 $7,250,000 - $8,249,999
26
0
7
1
5
3
$3,450,000 - $4,049,999
14
1
$2,650,000 - $3,049,999
20
5
$2,450,000 - $2,649,999
4
$2,250,000 - $2,449,999
4
7 7 7
$2,050,000 - $2,249,999 $1,950,000 - $2,049,999
1
18
6
$3,050,000 - $3,449,999
27%
10
2
$4,050,000 - $4,649,999
$1,875,000 - $1,949,999
Total Sales Ratio2:
8
1
$4,650,000 - $5,449,999
Seller's Market
13
1
$5,450,000 - $6,249,999
158
Total Sales: 43
3
0
$6,250,000 - $7,249,999
Total Inventory:
14
4
1
9
0
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$2,290,000
4
3
13
29
45%
3,000 - 3,999
$2,260,000
4
4
13
32
41%
4,000 - 4,999
$2,800,000
4
4
7
31
23%
5,000 - 5,999
$4,300,000
5
6
5
23
22%
6,000 - 6,999
$4,299,000
4
4
3
9
33%
7,000+
$2,750,000
10
5
2
33
6%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
OAHU
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
$3,000,000
$2,890,000
$2,600,000
$2,725,000
Inventory
$2,900,000 $2,425,000
$2,345,000
$2,100,500
239
234
225
10 Apr-20
11
234
11
May-20
Jun-20
213
21 Jul-20
Solds
209
207
23
27
Aug-20
Sep-20
$2,468,000
203
164
26
37
Nov-20
Dec-20
24 Oct-20
194
$2,437,500
$2,466,250
160
$2,700,000
Jan-21
158
156 47
30
26
$2,500,000
Feb-21
43
Mar-21
Apr-21
Median Data Review | April Total Inventory Apr. 2020
Apr. 2021
225
Apr. 2020
Sales Price
Apr. 2021
158 VARIANCE: -30 %
43 VARIANCE: 330 %
Sale Price Per SqFt.
Sale to List Price Ratio
Apr. 2020
$
Total Solds
10
Apr. 2020
$
2.10m
2.50m VARIANCE: 19 % $
Days on Market
Apr. 2021
Apr. 2020
Apr. 2021
Apr. 2020
Apr. 2021
761
92.96%
100.00%
129
28
720
$
VARIANCE:
6%
VARIANCE:
8%
VARIANCE: -
Oahu Market Summary | April 2021 • The Oahu single-family luxury market is a Seller's Market with a 27% Sales Ratio. • Homes sold for a median of 100.00% of list price in April 2021.
• The most active price band is $2,050,000-$2,249,999, where the sales ratio is 200%. • The median luxury sales price for single-family homes is $2,500,000.
• The median days on market for April 2021 was 28 days, down from 129 in April 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
Apr. 2021
78%
OAHU
Attached Homes
Luxury Inventory vs. Sales | April 2021 Inventory
Sales
Luxury Benchmark Price 1: $835,000 $7,100,000+ $6,100,000 - $7,099,999
1
$5,300,000 - $6,099,999
$4,500,000 - $5,299,999 $3,900,000 - $4,499,999 $3,300,000 - $3,899,999 $2,700,000 - $3,299,999
$1,600,000 - $1,899,999 $1,300,000 - $1,599,999
4
Total Inventory:
Total Sales Ratio2:
8
23%
18
0
6
0
22
5
27
0 23
5
26
6
$1,100,000 - $1,299,999
34
12
$1,000,000 - $1,099,999
16
8
$900,000 - $999,999
38
12
$835,000 - $899,999
1
Seller's Market
15
0 0
282
Total Sales: 65
6
1
$2,300,000 - $2,699,999
$1,900,000 - $2,299,999
7
0
32
15
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$928,000
2
2
7
68
10%
1,000 - 1,499
$940,000
2
2
32
93
34%
1,500 - 1,999
$1,385,000
2
2
13
49
27%
2,000 - 2,499
$1,260,000
3
3
11
33
33%
2,500 - 2,999
$1,015,000
3
3
1
11
9%
3,000+
$6,498,000
3
6
1
28
4%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
OAHU
Attached Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$1,417,500
$1,075,000 $949,000
$937,500
375
384
31 Apr-20
420
415
21
14 May-20
$1,045,000
Jun-20
$1,167,500
418
22 Jul-20
$1,030,000
$980,829
409
409
22
30
Aug-20
Sep-20
398
345
$995,000
$1,049,000
316
304
31
34
Nov-20
Dec-20
24 Oct-20
$999,998
$1,050,000
295
282
52
63
Feb-21
Mar-21
27 Jan-21
$1,080,000
65 Apr-21
Median Data Review | April Total Inventory
Total Solds
Sales Price
Apr. 2020
Apr. 2021
Apr. 2020
Apr. 2021
375
282
31
65
VARIANCE: -
25%
Sale Price Per SqFt. Apr. 2020
$
847
VARIANCE:
110%
Apr. 2020
949k
$
$
VARIANCE:
Sale to List Price Ratio
1.05m 11%
Days on Market
Apr. 2021
Apr. 2020
Apr. 2021
Apr. 2020
Apr. 2021
804
97.35%
98.86%
71
26
$
5
VARIANCE: - %
VARIANCE:
2%
VARIANCE: -
Oahu Market Summary | April 2021 • The Oahu attached luxury market is a Seller's Market with a 23% Sales Ratio. • Homes sold for a median of 98.86% of list price in April 2021.
• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 50%. • The median luxury sales price for attached homes is $1,050,000.
• The median days on market for April 2021 was 26 days, down from 71 in April 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
Apr. 2021
63%
May
2021
Maui Hawaii
MAUI
Single-Family Homes
Luxury Inventory vs. Sales | April 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,422,000 $7,000,000+ $6,000,000 - $6,999,999
6
0
$5,000,000 - $5,999,999
$4,500,000 - $4,999,999
13
2
$2,000,000 - $2,499,999
7 1
2
$1,700,000 - $1,799,999
2
3
4 5 5
$1,600,000 - $1,699,999
1
11
2
$1,800,000 - $1,899,999
$1,422,000 - $1,499,999
38%
6
4
$2,500,000 - $2,999,999
Total Sales Ratio2: 10
2
$3,000,000 - $3,499,999
$1,500,000 - $1,599,999
Seller's Market 7
2
119
Total Sales: 45
6
1
$3,500,000 - $3,999,999
Total Inventory: 7
2
$4,000,000 - $4,499,999
$1,900,000 - $1,999,999
37
8
2 2 2
3
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$1,695,000
3
2
11
27
41%
2,000 - 2,999
$2,750,000
3
4
7
20
35%
3,000 - 3,999
$2,477,500
3
4
14
23
61%
4,000 - 4,999
$2,547,500
4
5
4
22
18%
5,000 - 5,999
$10,000,000
4
5
5
9
56%
6,000+
$9,400,000
5
6
4
18
22%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
MAUI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds $3,550,000 $2,750,000
$1,820,000
$1,995,000
$1,990,000
180
172
168
13 Apr-20
$2,275,000 $1,825,000 173
$1,999,999
$2,025,000
173
164
182
173
11
9
9
21
15
May-20
Jun-20
Jul-20
Aug-20
Sep-20
20 Oct-20
$2,423,500
$2,262,500
$2,460,000
$2,112,000
157
129
26
27
Nov-20
Dec-20
125 29
38
Feb-21
Mar-21
28 Jan-21
119
117
45
Apr-21
Median Data Review | April Total Inventory Apr. 2020
Apr. 2021
168
Apr. 2020
45 VARIANCE: 246 %
Sale Price Per SqFt.
Sale to List Price Ratio
Apr. 2021
722
973 VARIANCE: 35 % $
13
Apr. 2020
Sales Price
Apr. 2021
119 VARIANCE: -29 %
Apr. 2020
$
Total Solds
Apr. 2021
Apr. 2020
$
1.82m
2.46m VARIANCE: 35 % $
Days on Market Apr. 2020
93.06%
98.21% VARIANCE: 6 %
184
Apr. 2021
75 VARIANCE: -59 %
Maui Market Summary | April 2021 • The Maui single-family luxury market is a Seller's Market with a 38% Sales Ratio. • Homes sold for a median of 98.21% of list price in April 2021.
• The most active price band is $1,700,000-$1,799,999, where the sales ratio is 200%. • The median luxury sales price for single-family homes is $2,460,000.
• The median days on market for April 2021 was 75 days, down from 184 in April 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
Apr. 2021
MAUI
Attached Homes
Luxury Inventory vs. Sales | April 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,183,200 $4,000,000+ $3,000,000 - $3,999,999 $2,500,000 - $2,999,999
$2,000,000 - $2,499,999
8
1
2
$1,500,000 - $1,599,999 $1,450,000 - $1,499,999
2
1
4 4
2 2
5
2 2 3
$1,250,000 - $1,299,999 $1,183,200 - $1,249,999
4
3
1
81%
5
2
$1,300,000 - $1,349,999
Seller's Market Total Sales Ratio2:
1
1
64
Total Sales: 52
3 3
$1,600,000 - $1,699,999
$1,350,000 - $1,399,999
Total Inventory:
8
1
$1,800,000 - $1,899,999
$1,400,000 - $1,449,999
9
5
$1,900,000 - $1,999,999
$1,700,000 - $1,799,999
16
5
2
5 5
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,275,000
2
2
2
7
29%
1,000 - 1,499
$1,525,000
2
2
19
22
86%
1,500 - 1,999
$1,690,000
3
3
19
10
190%
2,000 - 2,499
$3,700,000
3
3
5
9
56%
2,500 - 2,999
$4,275,000
3
4
6
14
43%
3,000+
$3,557,500
3
4
1
2
50%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
MAUI
Attached Homes
13-Month Luxury Market Trend4 Sale Price
$2,275,000
$2,207,250
$2,120,000
Inventory
Solds
$2,370,000
$2,205,000
$1,900,000 $1,495,000
127
$1,475,000 176
172
151
147
136
117
116
$1,800,000
$1,700,000
$1,500,000
$1,700,000 $1,500,000
174 115
111 74
21 Apr-20
9
8
May-20
Jun-20
15 Jul-20
31 Aug-20
21
20
9 Sep-20
Oct-20
Nov-20
37
Dec-20
64
59
25
15 Jan-21
Feb-21
Mar-21
52
Apr-21
Median Data Review | April Total Inventory Apr. 2020
Apr. 2021
127
Sales Price
Apr. 2020
Apr. 2021
21
52
64 VARIANCE: -50 %
VARIANCE:
Sale Price Per SqFt.
Sale to List Price Ratio
Apr. 2020
$
Total Solds
1,131
148%
Apr. 2020
$
2.28m
$
1.70m
VARIANCE: -
25%
Days on Market
Apr. 2021
Apr. 2020
Apr. 2021
Apr. 2020
Apr. 2021
1,157
100.00%
99.46%
546
88
$
VARIANCE:
2%
1
VARIANCE: - %
VARIANCE: -
Maui Market Summary | April 2021 • The Maui attached luxury market is a Seller's Market with a 81% Sales Ratio. • Homes sold for a median of 99.46% of list price in April 2021.
• The most active price band is $1,700,000-$1,799,999, where the sales ratio is 500%. • The median luxury sales price for attached homes is $1,700,000.
• The median days on market for April 2021 was 88 days, down from 546 in April 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
Apr. 2021
84%
May
2021
Island of Hawaii
ISLAND OF HAWAII
Single-Family Homes
Luxury Inventory vs. Sales | April 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,075,000 $10,000,000+ $8,600,000 - $9,999,999 $7,400,000 - $8,599,999
1
2
Total Sales: 42 2
$5,200,000 - $6,199,999
2 1
Total Sales Ratio2:
3
4 4 6
1 3
1
$1,900,000 - $2,199,999
7
6
$1,600,000 - $1,899,999
7
3 4
$1,400,000 - $1,599,999
6
$1,200,000 - $1,399,999
10
6
$1,075,000 - $1,199,999
1
61%
3 3
$3,000,000 - $3,599,999
$2,200,000 - $2,599,999
Seller's Market
4
2
$3,600,000 - $4,399,999
$2,600,000 - $2,999,999
69
Total Inventory:
1 1
$6,200,000 - $7,399,999
$4,400,000 - $5,199,999
6
1
9
2
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,490,000
4
3
11
22
50%
3,000 - 3,999
$1,979,000
4
4
9
12
75%
4,000 - 4,999
$4,850,000
4
5
8
6
133%
5,000 - 5,999
NA
NA
NA
0
4
0%
6,000 - 6,999
NA
NA
NA
0
0
NA
7,000+
$4,787,500
5
6
2
1
200%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
ISLAND OF HAWAII
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$2,025,000
$1,650,000
$1,569,500
$1,487,500
$2,001,500 $1,780,000
$1,600,000
$1,750,000 $1,595,000
$1,497,000
$1,632,500
$1,755,000
$1,250,000 156
149
12 Apr-20
144
138
14
10 May-20
Jun-20
21 Jul-20
143
141
133
18
28
Aug-20
Sep-20
132
122
29
22 Oct-20
Nov-20
109 47
Dec-20
94
31 Jan-21
77 36
44
Feb-21
Mar-21
69
42
Apr-21
Median Data Review | April Total Inventory Apr. 2020
Apr. 2021
149
Apr. 2020
42 VARIANCE: 250 %
Sale Price Per SqFt.
Sale to List Price Ratio
Apr. 2021
599
778 VARIANCE: 30 % $
12
Apr. 2020
Sales Price
Apr. 2021
69 VARIANCE: -54 %
Apr. 2020
$
Total Solds
Apr. 2020
$
Apr. 2021
94.46%
98.42% VARIANCE: 4 %
1.57m
2.00m VARIANCE: 28 % $
Days on Market Apr. 2020
87
Apr. 2021
31 VARIANCE: -64 %
Island of Hawaii Market Summary | April 2021 • The Island of Hawaii single-family luxury market is a Seller's Market with a 61% Sales Ratio.
• Homes sold for a median of 98.42% of list price in April 2021.
• The most active price band is $6,200,000-$7,399,999, where the sales ratio is 200%. • The median luxury sales price for single-family homes is $2,001,500.
• The median days on market for April 2021 was 31 days, down from 87 in April 2020. Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
Apr. 2021
ISLAND OF HAWAII
Attached Homes
Luxury Inventory vs. Sales | April 2021 Inventory
Sales
Luxury Benchmark Price 1: $925,000 $4,500,000+ $4,000,000 - $4,499,999
5
2
0 0
$3,500,000 - $3,999,999
7
2 3 3
$3,100,000 - $3,499,999 $2,700,000 - $3,099,999
0
$2,400,000 - $2,699,999
0
$2,100,000 - $2,399,999
0
Seller's Market Total Sales Ratio2: 114%
2 3
1 0
$1,400,000 - $1,599,999
0
3 1
$1,300,000 - $1,399,999
1
$1,200,000 - $1,299,999
1
$1,100,000 - $1,199,999
1
2
5 2
1
$1,000,000 - $1,099,999 $925,000 - $999,999
1
Total Sales: 32 2
$1,800,000 - $2,099,999
$1,600,000 - $1,799,999
Total Inventory: 28
1
6 4
2
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
NA
NA
NA
0
3
0%
1,000 - 1,499
$1,250,000
2
2
1
7
14%
1,500 - 1,999
$1,185,000
3
3
6
7
86%
2,000 - 2,499
$2,014,500
3
4
6
2
300%
2,500 - 2,999
$1,360,000
3
4
8
0
NA
3,000+
$2,500,000
4
6
5
6
83%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
ISLAND OF HAWAII
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
Solds
$2,975,000 $2,285,000
$1,117,050
$2,222,500 $1,850,000
$1,750,000
$1,480,000
$1,395,000
94
84
$2,099,500
92
87
82
69
5
5
6
8
Apr-20
May-20
Jun-20
Jul-20
79
13
9
Aug-20
Sep-20
$1,420,000
$1,300,000
69 19
$1,406,500
66
13
Oct-20
$1,387,500
Nov-20
27
Dec-20
42
28
24
Jan-21
23
22
Feb-21
30
28
Mar-21
32
Apr-21
Median Data Review | April Total Inventory Apr. 2020
Apr. 2021
Apr. 2020
28 VARIANCE: -67 %
32 VARIANCE: 540 %
Sale Price Per SqFt.
Sale to List Price Ratio
Apr. 2021
474
719 VARIANCE: 52 % $
5
Apr. 2020
Sales Price
Apr. 2021
84
Apr. 2020
$
Total Solds
Apr. 2021
Apr. 2020
$
1.12m
1.41m VARIANCE: 26 % $
Days on Market Apr. 2020
97.87%
98.45% VARIANCE: 1 %
29
Apr. 2021
48 VARIANCE: 66 %
Island of Hawaii Market Summary | April 2021 • The Island of Hawaii attached luxury market is a Seller's Market with a 114% Sales Ratio. • Homes sold for a median of 98.45% of list price in April 2021.
• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 600%. • The median luxury sales price for attached homes is $1,406,500.
• The median days on market for April 2021 was 48 days, up from 29 in April 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
Apr. 2021
KAUAI
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OAHU
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HAWAII ISLAND
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