KAUAI
|
OAHU
|
MAUI
|
HAWAII ISLAND
Luxury Market Report Hawaii, October 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
Mililani Office 95-1249 Meheula Parkway, Suite No. A-5 Mililani, HI 96789 (808) 589-2040
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 LUXURY HOME SALES SET TO SURPASS 2019 AND 2020 NUMBERS As we enter in the last quarter of 2021, we review the number of year-to-date sales as they compare to the full years of 2019 and 2020. We also look at several trends to establish the types of properties currently being purchased and to ascertain which were seeing the highest demand in the luxury real estate market. Seven takeaways for the North American Luxury Market: 1. The number of sales in the luxury real estate market, year to date, have already surpassed the number of sales for the full year of 2019. 2. Demand remains strong, with the majority of luxury markets reporting sales in 2021 already outpacing the total number of sales in 2020. 3. The luxury markets whose sales are not currently outpacing 2020 are, for the most part, predicted to do so by the end of 2021. 4. Demand for properties in the $5 million range and above in 2021 is currently in the double digits compared to 2019, ie. there are more than double the number of $5 million + homes sold in 2021 than in the full year of 2019. 5. Sales of properties in the $1-5 million range are currently 50% higher than the full year of 2019 but are predicated to be as much as 100% higher by the end of 2021. 6. Inventory levels continue to remain at one of the lowest levels of availability, certainly over the last 20 years, if not longer.
7. The median sold price in for luxury single-family homes, year to date in 2021, is approximately US$1.7 million, a 22% increase compared to 2020, and for luxury attached homes it is approximately US$1 million, a 12.8% increase compared to 2020. What does this tell us? In simple terms, the luxury real estate market remains extremely robust and luxury properties are still very much in high demand. If trends remain on track, then 2021 could report one of the strongest years on record for the number of sales as well as the median price point for luxury properties. However, despite these extraordinary numbers, the fall market is currently experiencing a slowing down, especially if we compare it to the activity of last spring’s market — not so much in the number of sales, but more that price increases have slowed, inventory levels increased, and there are fewer bidding wars. There is more a semblance of normality for all parties concerned in today’s market. Similarly, communities themselves are starting to return to a more normal way of life, as individuals have learned to live with the COVID-19 restrictions, coupled with more and more North Americans being vaccinated, which has helped reduce the frenzied buying activity as well as the mass exodus out of cities. In fact, the number of individuals returning to city life has increased exponentially month-over-month in 2021, as eased pandemic restrictions has renewed some confidence. The two largest property types that are trending this fall are city dwellings, condominiums in particular, and second home properties. Major cities such as New York, San Francisco, Chicago, Toronto, and to some extent Los Angeles (whose urban sprawl made it easier to relocate to the city’s outer limits) offered returning buyers a softer condominium market in which to negotiate. In many of the high-density metropolitan markets, inventory levels are still higher comparative to the numbers for the fall months of 2019. This allows buyers to be choosier, and price points, especially when compared to the escalating prices found in suburban counterparts, seem comparatively affordable.
However, buyers sitting on the fence might well find themselves pushed out of the market if they wait too long. Prices of condominiums are escalating as inventory levels are starting to fall, and negotiations will become tighter in terms of what a seller is willing to do to close their sale. So, too are we seeing developers starting to scale back on the concessions and discounts they offered to entice buyers, who were once skittish at the prospect of buying a condo, especially in new luxury buildings located in metropolitan markets. New developments have specifically seen an upswing in demand whether this in a metropolitan area or second home location, particularly if their specifications cater to three key demands. Space is an obvious requirement, but flexibility of its use is highly prized – rooms or spaces that can be used for different purposes, but most importantly offer a dedicated location to be able to work from home, if required. Wellness is key, from offering a truly comfortable space to air, water, and heat filtration systems. Equally, building amenities that provide residents the opportunity to enjoy a dedicated, communal location to views, amenities, and outdoor space. Townhomes or Brownstones within the inner cities were not as affected as condominiums during 2020, in fact many affluent condominium owners who could not or did not want to leave their respective city tended to upsize into these types of properties, especially if they offered a private outdoor space. Today, they are still highly prized, especially by families who wish to return to city life but are not ready to move back into an apartment block. This market may see a slow down as we move further into the fall months, partly due to lack of inventory, but mainly because families will have purchased before the start of the school year. Second homeowners are probably now the largest demographic in the affluent marketplace, as a result of the
pandemic. The affluent already had a propensity to own multiple homes but even with the diminishing impact of COVID-19, the demand for additional homes has not abated. The significant difference between second homes pre-pandemic and today’s market is that previously they were bought with the idea of a 2-3 week stay or perhaps a summer vacation property. Today, many second homes are interchangeable with the primary home and have been set up accordingly to allow their owners to change properties immediately and for the long term, if necessary. It is important to recognize that technology has changed almost every aspect of our lives and will continue to do so, and tech and data companies are responding by upgrading remote communication tools that prioritize security, as well as higher speed connectivity. This technology only reinforces the opportunity for people to work from home and live anywhere. The number of homes owned and the number of affluent owning two or more properties has accelerated during 2021, so whether you are looking at a ski resort or sunnier destination, do not be surprised by the low inventory levels. Finally, let’s not forget the combination of a second homeowner whose choice of purchase may not be for their own use, but rather as an investment. Increasing numbers of individuals, especially Gen-Xers and Millennials, are investing in condominiums in both metropolitan and resort markets as way to step into the market or grow their real estate portfolio. 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 buy or sell in today’s market, we recommend working with a Realtor who can capitalize on the preferences, trends, and demands in this dynamic and evolving environment.
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.
40
36
Days on Market
33
35
32
31 30
34
37
34 31
30
29
19 20
21
11
10 10
15
16
10
12
11
14
15
15
11
0 SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
$546 $434
$490 $424
MAY
$415
APR
$502
$528
$417
MAR
$436
$415
$508
$513
$418
$488
$494 $398
$487 $397
$491 $394
$389
$300
$487
$492 $395
$400
$461
$500
$379
Price per Square Foot
$600
JUL
AUG
SEP
$200
$100
$0 SEP
OCT
NOV
DEC
JAN
FEB
JUN
Sales Price vs. List Price
$2,100,000 $1,900,000 $1,700,000 $1,500,000 $1,300,000 $1,100,000 $900,000 $700,000 $500,000 SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
Discrepancies in previous month statistics between the September 2021 and October 2021 reports are due to the addition of Charlottesville, VA, Cincinnati, OH, and Johnson County, KS.
SEP
Luxury Monthly Market Review A Review of Key Market Differences Year over Year September 2020 | September 2021
Single-Family Homes Median List Price
Median Sale Price
September 2021
$1,693,944
$1,825,000
97.64%
100.00%
$1,391,250
Median SP/LP Ratio Total Sales Ratio
September 2020
Median Price per Sq. Ft.
31.30% $379
$1,437,500
54.34% $434
September 2020
September 2021
Total Inventory
41,340
30,600
Total Sold
12,941
16,627
New Listings
12,520
Median Days on Market Average Home Size
33
11,063
3,673
14
3,275
Median prices represent properties priced above respective city benchmark prices.
1,457
3,686
New Listings
Total Sold
19
23.04%
Med. Sale Price
Days on Market
Sales Ratio
46,250
$
Single-Family Homes Market Summary | September 2021 •
Official Market Type: Seller's Market with a 54.34% Sales Ratio.1
•
Homes are selling for an average of 100.00% of list price.
•
The median luxury threshold2 price is $1,000,000, and the median luxury home sales price is $1,437,500
•
Markets with the Highest Median Sales Price: Vail ($4,203,750), Los Angeles Beach Cities ($3,892,500), Park City ($3,707,500), and Los Angeles City ($3,700,000).
•
Markets with the Highest Sales Ratio: East Bay (230%), GTA-Durham (205%), Silicon Valley (141%) and Hamilton County (134%). 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.
Luxury Monthly Market Review A Review of Key Market Differences Year over Year September 2020 | September 2021
Attached Homes Median List Price
Median Sale Price
September 2021
$1,029,795
$1,118,641
98.36%
100.00%
$880,000
Median SP/LP Ratio Total Sales Ratio
September 2020
Median Price per Sq. Ft.
19.45% $461
$910,000 39.38% $546
September 2020
Total Inventory New Listings
September 2021
18,691
11,800
3,636
4,647
5,649
Total Sold
Median Days on Market Average Home Size
29
2,139
4,469 15
1,932
Median prices represent properties priced above respective city benchmark prices.
1,180 New Listings
1,011 Total Sold
Med. Sale Price
Days on Market
30,000
$
14
19.93% Sales Ratio
Attached Homes Market Summary | September 2021 •
Official Market Type: Seller's Market with a 39.38% 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 ($2,962,500), San Francisco ($2,555,555), Greater Boston ($1,980,900), and Maui ($1,927,000).
•
Markets with the Highest Sales Ratio: Douglas County (333%), GTA-Durham (318%), Ventura County (311%) and Durango (275%). 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.
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
AB
Calgary
$1,165,000
$1,011,000
486
217
137
33
Seller's
AZ
Paradise Valley
$4,695,000
$2,750,000
123
36
21
44
Balanced
AZ
Phoenix
$849,000
$772,500
360
184
312
28
Seller's
AZ
Scottsdale
$2,400,000
$1,500,000
292
98
181
35
Seller's
AZ
Tucson
$700,000
$650,000
430
176
242
7
Seller's
BC
Okanagan Valley
$1,950,000
$1,577,000
513
175
84
28
Balanced
BC
Vancouver
$4,584,000
$3,210,000
1,158
374
121
9
Buyer's
CA
Central Coast
$3,500,000
$2,271,500
157
47
82
17
Seller's
CA
East Bay
$2,124,000
$1,907,500
232
140
534
9
Seller's
CA
Greater Palm Springs
$2,495,000
$1,712,500
134
65
86
23
Seller's
CA
Lake Tahoe
$2,649,000
$1,731,185
105
37
64
12
Seller's
CA
Los Angeles Beach Cities
$5,388,000
$3,892,500
301
96
118
32
Seller's
CA
Los Angeles City
$5,750,000
$3,700,000
569
212
169
24
Seller's
CA
Los Angeles The Valley
$2,999,750
$1,980,000
244
106
212
12
Seller's
CA
Marin County
$3,978,500
$3,100,000
76
26
55
15
Seller's
CA
Napa County
$3,972,500
$2,290,000
104
21
23
43
Seller's
CA
Orange County
$3,525,000
$2,210,000
484
171
441
10
Seller's
CA
Placer County
$1,200,000
$1,022,500
156
31
76
9
Seller's
CA
Sacramento
$939,000
$879,500
458
133
228
9
Seller's
CA
San Diego
$2,696,500
$1,901,125
560
236
453
11
Seller's
CA
San Francisco
$4,980,000
$3,475,000
117
50
76
11
Seller's
CA
San Luis Obispo County
$2,150,000
$1,425,000
114
27
71
CA
Santa Barbara
$6,495,000
$3,534,250
100
42
54
7
Seller's
CA
Silicon Valley
$5,700,000
$3,382,500
269
128
380
8
Seller's
CA
Sonoma County
$2,499,000
$1,749,500
193
42
80
34
Seller's
CA
Ventura County
$2,723,500
$1,675,000
172
63
112
26
Seller's
CO
Boulder
$2,216,500
$1,494,500
100
55
84
44
Seller's
CO
Colorado Springs
$1,087,500
$883,394
194
90
140
7
Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Seller's
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
CO
Denver
$1,750,000
$1,375,000
279
111
291
6
Seller's
CO
Douglas County
$1,850,000
$1,293,500
125
51
128
10
Seller's
CO
Durango
$1,899,000
$1,197,500
80
18
26
66
Seller's
CO
Summit County
$2,585,000
$1,865,000
34
13
10
10
Seller's
CO
Vail
$5,897,500
$4,203,750
46
5
16
19
Seller's
CT
Central Connecticut
$667,450
$605,000
370
87
161
15
Seller's
CT
Coastal Connecticut
$2,222,500
$1,617,500
650
168
203
38
Seller's
DC
Washington D.C.
$4,345,000
$2,176,000
56
14
9
8
Balanced
DE
Sussex County Coastal
$1,399,000
$1,425,000
84
31
35
9
Seller's
FL
Boca Raton/Delray Beach
$3,195,000
$2,050,000
241
73
63
16
Seller's
FL
Coastal Pinellas County
$2,050,000
$1,660,000
43
14
23
10
Seller's
FL
Greater Fort Lauderdale
$1,699,000
$1,100,000
659
193
296
15
Seller's
FL
Jacksonville Beaches
$1,400,000
$1,250,000
164
44
79
19
Seller's
FL
Lee County
$1,590,000
$1,290,178
254
78
100
8
Seller's
FL
Marco Island
$3,075,000
$2,000,500
54
14
12
19
Seller's
FL
Miami
$2,297,500
$1,535,000
542
151
127
37
Seller's
FL
Naples
$2,996,250
$2,200,500
366
95
114
17
Seller's
FL
Orlando
$1,300,000
$1,195,000
393
141
146
11
Seller's
FL
Palm Beach Towns
$4,500,000
$2,800,000
111
28
33
11
Seller's
FL
Sarasota & Beaches
$2,895,000
$1,630,000
147
40
52
21
Seller's
FL
South Pinellas County
$1,647,500
$1,200,000
104
41
73
10
Seller's
FL
South Walton
$2,495,000
$2,000,000
165
47
63
15
Seller's
FL
Tampa
$902,490
$675,000
434
174
376
9
Seller's
FL
Weston
$1,325,000
$930,000
43
17
42
17
Seller's
GA
Atlanta
$1,495,000
$1,184,000
510
171
210
14
Seller's
HI
Island of Hawaii
$2,060,000
$1,990,000
60
21
28
50
Seller's
HI
Kauai
$3,124,500
$1,683,250
48
9
24
52
Seller's
HI
Maui
$3,294,000
$2,775,000
102
25
32
100
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 Single-Family Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
HI
Oahu
$3,100,000
$2,425,000
174
46
59
14
Seller's
ID
Ada County
$774,450
$755,000
374
217
335
7
Seller's
ID
Northern Idaho
$1,100,000
$844,349
327
96
156
68
Seller's
IL
Chicago
$1,499,000
$1,254,000
729
228
278
24
Seller's
IL
DuPage County
$1,189,000
$899,950
337
99
100
34
Seller's
IL
Lake County
$1,117,500
$877,500
322
75
130
24
Seller's
IL
Will County
$749,404
$600,000
198
57
110
9
Seller's
IN
Hamilton County
$951,450
$725,000
64
27
86
5
Seller's
KS
Johnson County
$859,805
$850,000
220
48
199
5
Seller's
MA
Greater Boston
$3,499,000
$2,800,000
102
48
36
23
Seller's
MD
Anne Arundel County
$1,100,000
$878,000
157
60
108
8
Seller's
MD
Montgomery County
$1,880,000
$1,455,500
150
67
93
8
Seller's
MD
Talbot County
$3,125,000
$1,617,500
38
10
12
30
Seller's
MD
Worcester County
$1,149,999
$795,000
47
10
25
18
Seller's
MI
Livingston County
$715,000
$675,000
71
22
35
14
Seller's
MI
Monroe County
$666,950
$635,000
16
5
5
79
Seller's
MI
Oakland County
$800,000
$619,750
619
237
354
14
Seller's
MI
Washtenaw County
$992,000
$730,000
118
29
51
15
Seller's
MI
Wayne County
$749,000
$635,000
176
69
117
19
Seller's
MO
Kansas City
$691,680
$631,040
625
179
358
7
Seller's
MO
St. Louis
$799,450
$680,000
102
32
88
26
Seller's
NC
Charlotte
$1,199,000
$922,000
305
108
293
5
Seller's
NC
Raleigh-Durham
$1,112,500
$999,249
212
65
146
1
Seller's
NJ
Ocean County
$899,825
$867,500
336
108
147
15
Seller's
NV
Lake Tahoe
$4,097,500
$2,570,000
64
22
18
76
Seller's
NV
Las Vegas
$843,700
$720,000
1,130
464
572
12
Seller's
NV
Reno
$1,892,750
$1,500,000
80
28
33
51
Seller's
NY
Brooklyn
$1,799,000
$1,450,000
268
44
23
47
Buyer'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 Single-Family Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
NY
Nassau County
$1,888,000
$1,585,000
791
152
183
34
Seller's
NY
Suffolk County
$1,725,000
$1,242,500
797
187
176
28
Seller's
OH
Cincinnati
$849,900
$735,000
245
39
47
22
Balanced
ON
GTA - Durham
$1,624,500
$1,275,000
150
195
307
6
Seller's
ON
GTA - York
$2,749,000
$1,894,000
401
360
309
8
Seller's
ON
Oakville
$3,699,500
$2,230,000
44
30
31
8
Seller's
ON
Toronto
$3,884,000
$3,160,000
366
297
154
7
Seller's
ON
Waterloo Region
$1,688,000
$1,450,000
31
19
7
9
Seller's
QC
Montreal
$1,691,500
$1,495,000
192
53
55
21
Seller's
SC
Charleston
$1,998,000
$1,625,000
179
58
101
8
Seller's
TN
Nashville
$1,999,000
$1,400,000
230
105
203
3
Seller's
TX
Austin
$1,001,450
$921,500
454
243
363
7
Seller's
TX
Collin County
$726,900
$682,200
387
195
442
6
Seller's
TX
Dallas
$1,399,000
$1,062,150
247
84
136
19
Seller's
TX
Denton County
$805,475
$715,756
257
100
318
8
Seller's
TX
Fort Worth
$930,000
$836,000
373
131
318
7
Seller's
TX
Houston
$949,000
$847,000
1,275
394
323
22
Seller's
TX
San Antonio
$834,500
$737,500
294
95
139
28
Seller's
TX
The Woodlands & Spring
$1,001,000
$737,450
164
55
106
10
Seller's
UT
Park City
$4,700,000
$3,707,500
77
24
38
17
Seller's
UT
Salt Lake City
$1,200,000
$975,000
201
96
175
17
Seller's
VA
Arlington & Alexandria
$1,999,000
$1,860,500
77
30
19
12
Seller's
VA
Charlottesville
$1,197,500
$1,035,000
112
25
31
10
Seller's
VA
Fairfax County
$2,181,500
$1,482,877
280
96
134
9
Seller's
VA
McLean & Vienna
$2,624,500
$1,713,131
148
44
46
9
Seller's
VA
Richmond
$799,900
$749,000
168
47
106
7
Seller's
WA
Greater Seattle
$1,800,000
$1,690,000
810
381
833
6
Seller's
WA
Seattle
$1,862,500
$1,736,500
124
76
152
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
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
AB
Calgary
$749,900
$683,500
157
42
18
44
Buyer's
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$929,000
$749,975
85
39
48
38
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,998,800
$1,752,000
739
348
119
9
Balanced
CA
Central Coast
$1,012,500
$981,500
10
8
24
7
Seller's
CA
East Bay
$1,064,500
$1,050,000
78
57
153
9
Seller's
CA
Greater Palm Springs
-
-
-
-
-
-
-
CA
Lake Tahoe
$1,750,000
$1,065,000
23
7
21
11
Seller's
CA
Los Angeles Beach Cities
$1,800,000
$1,655,000
137
66
88
19
Seller's
CA
Los Angeles City
$1,748,889
$1,405,000
341
116
108
23
Seller's
CA
Los Angeles The Valley
$799,000
$781,667
37
18
76
12
Seller's
CA
Marin County
$1,430,000
$1,050,000
16
10
15
34
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,241,500
$1,026,000
94
52
208
8
Seller's
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,454,500
$1,120,750
202
92
208
10
Seller's
CA
San Francisco
$2,544,000
$2,555,555
140
52
29
11
Balanced
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Santa Barbara
$1,962,500
$1,420,000
12
11
12
11
Seller's
CA
Silicon Valley
$1,662,220
$1,632,500
69
39
102
8
Seller's
CA
Sonoma County
$779,000
$780,000
11
5
9
48
Seller's
CA
Ventura County
$789,000
$725,000
19
10
59
17
Seller's
CO
Boulder
$1,037,618
$865,000
32
26
40
37
Seller's
CO
Colorado Springs
-
-
-
-
-
-
-
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
CO
Denver
$1,045,000
$877,000
141
32
60
25
Seller's
CO
Douglas County
$545,000
$556,060
3
4
10
4
Seller's
CO
Durango
$1,135,000
$702,000
4
1
11
45
Seller's
CO
Summit County
$1,523,999
$1,000,000
3
3
7
2
Seller's
CO
Vail
$4,672,500
$2,962,500
62
1
18
24
Seller's
CT
Central Connecticut
-
-
-
-
-
-
-
CT
Coastal Connecticut
$1,149,500
$775,000
176
33
43
51
Seller's
DC
Washington D.C.
$1,890,000
$1,575,000
218
115
55
13
Seller's
DE
Sussex County Coastal
$1,150,000
$825,000
13
4
20
7
Seller's
FL
Boca Raton/Delray Beach
$1,437,500
$777,500
168
56
80
15
Seller's
FL
Coastal Pinellas County
$1,498,500
$1,072,500
46
12
28
11
Seller's
FL
Greater Fort Lauderdale
$930,000
$750,000
710
155
130
28
Balanced
FL
Jacksonville Beaches
$1,295,000
$951,000
19
6
9
14
Seller's
FL
Lee County
$879,500
$749,444
86
22
54
6
Seller's
FL
Marco Island
$1,699,000
$1,300,000
11
4
7
19
Seller's
FL
Miami
$1,400,000
$1,127,000
1,303
243
123
75
Buyer's
FL
Naples
$1,850,000
$1,535,000
139
45
76
9
Seller's
FL
Orlando
$830,000
$611,500
65
18
29
20
Seller's
FL
Palm Beach Towns
$1,941,000
$1,352,500
110
33
42
32
Seller's
FL
Sarasota & Beaches
$1,600,000
$1,365,025
76
25
32
27
Seller's
FL
South Pinellas County
$1,375,000
$957,500
67
10
34
12
Seller's
FL
South Walton
$1,274,520
$1,150,000
157
13
37
21
Seller's
FL
Tampa
$799,000
$630,000
79
31
33
5
Seller's
FL
Weston
-
-
-
-
-
-
-
GA
Atlanta
$699,900
$605,000
467
173
161
25
Seller's
HI
Island of Hawaii
$2,040,000
$1,625,000
34
10
18
5
Seller's
HI
Kauai
$1,750,000
$1,255,000
41
19
15
15
Seller's
HI
Maui
$2,850,000
$1,927,000
27
8
40
91
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
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
HI
Oahu
$1,365,000
$910,000
329
96
101
16
Seller's
ID
Ada County
$634,950
$585,000
30
16
33
8
Seller's
ID
Northern Idaho
-
-
-
-
-
-
-
IL
Chicago
$1,150,000
$950,000
843
319
176
36
Balanced
IL
DuPage County
$694,500
$654,500
48
21
8
72
Balanced
IL
Lake County
-
-
-
-
-
-
-
IL
Will County
-
-
-
-
-
-
-
IN
Hamilton County
-
-
-
-
-
-
-
KS
Johnson County
$606,719
$600,605
48
13
16
21
Seller's
MA
Greater Boston
$2,699,000
$1,980,900
427
194
81
37
Balanced
MD
Anne Arundel County
$557,990
$550,000
49
28
53
10
Seller's
MD
Montgomery County
$747,000
$707,500
130
61
100
14
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$750,000
$705,750
73
27
32
17
Seller's
MI
Livingston County
-
-
-
-
-
-
-
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$829,700
$627,929
52
19
23
28
Seller's
MI
Washtenaw County
$635,000
$605,000
37
7
11
38
Seller's
MI
Wayne County
$669,500
$614,343
62
14
16
29
Seller's
MO
Kansas City
-
-
-
-
-
-
-
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$779,000
$587,000
133
40
59
8
Seller's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$773,200
$824,750
20
10
10
19
Seller's
NV
Lake Tahoe
$1,950,000
$950,000
11
6
1
34
Buyer's
NV
Las Vegas
-
-
-
-
-
-
-
NV
Reno
-
-
-
-
-
-
-
NY
Brooklyn
$1,399,000
$1,120,000
517
110
73
56
Buyer'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
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
NY
Nassau County
$1,650,000
$1,280,000
89
7
30
55
Seller's
NY
Suffolk County
$749,995
$627,500
117
29
58
27
Seller's
OH
Cincinnati
$758,090
$585,000
26
1
7
35
Seller's
ON
GTA - Durham
$749,990
$775,000
11
10
35
5
Seller's
ON
GTA - York
$788,000
$755,000
121
139
122
8
Seller's
ON
Oakville
$2,900,000
$1,412,500
11
6
4
17
Seller's
ON
Toronto
$1,270,995
$1,140,000
698
621
329
8
Seller's
ON
Waterloo Region
$925,000
$774,000
18
11
7
7
Seller's
QC
Montreal
$1,192,500
$1,075,000
100
39
37
11
Seller's
SC
Charleston
$906,500
$1,100,000
82
25
33
8
Seller's
TN
Nashville
$849,900
$640,000
77
40
50
10
Seller's
TX
Austin
$849,945
$744,500
116
64
62
11
Seller's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$815,000
$655,000
143
49
37
20
Seller's
TX
Denton County
-
-
-
-
-
-
-
TX
Fort Worth
-
-
-
-
-
-
-
TX
Houston
$649,000
$596,000
146
47
30
36
Balanced
TX
San Antonio
$699,000
$650,000
33
10
5
101
Balanced
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$2,400,000
$1,815,000
32
7
37
5
Seller's
UT
Salt Lake City
$530,000
$570,395
79
22
49
10
Seller's
VA
Arlington & Alexandria
$1,098,950
$954,250
98
55
54
8
Seller's
VA
Charlottesville
$1,085,000
$577,450
20
6
12
30
Seller's
VA
Fairfax County
$743,080
$695,000
198
102
136
8
Seller's
VA
McLean & Vienna
$1,174,000
$949,990
34
14
13
5
Seller's
VA
Richmond
-
-
-
-
-
-
-
WA
Greater Seattle
$1,118,641
$950,000
222
87
161
6
Seller's
WA
Seattle
$1,598,000
$1,392,000
93
23
37
6
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 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 September 2021. Last month we asked how long the fast pace, high demand seller’s market would last. As we move into the last quarter of 2021, with next month the one-year anniversary of the reopening of Hawaii to travellers, we investigate the status of the current real estate market. Overall, we are starting to see some of the buying frenzy slowdown in the top 10% of the real estate market. This could partially be to do with a lack of inventory but also a slowing in the number of visitors to islands at the behest of the Governor, who appealed for tourists not to come due to the increasing numbers of Covid-19 cases in the latter part of the summer. Fortunately, this situation has now settled down with the number of new cases dropping steadily from mid-September. Single family sales have stabilized at an average of 150 sold per month for the Hawaiian Islands over the last 6 months. Median price points have varied but overall remained fairly steady and close to the current median for the year of $2.25 million. Inventory levels are still considerably less when compared to the same months of 2020, on average by 38% per month. Sales for attached properties experienced an upward trajectory from May through to August in 2021 increasing to as much as 215 sales per month. However, September only saw 174 sales – but time will be our only judge as to whether this is a blip or the start of a new norm for luxury attached homes. Median price points have, for the most part, steadily risen over the last seven months from $1.25 million in March to $1.43 million in September. Conversely, inventory levels have continued to fall, with numbers as high as 760 last September dropping to 431 in September 2021. So, what do these numbers tell us? In simple words, that the luxury real estate market across the Hawaiian Islands remains strong and in high demand. Generally, speed has come off the pace of properties being bought and sold, allowing both parties a little more breathing room, especially as there are probably fewer multiple offer situations. As always, a real estate expert familiar with local trends is the best resource to navigate a specific market.
October
2021
Kauai Hawaii
KAUAI
Single-Family Homes
Luxury Inventory vs. Sales | September 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,200,000 $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
4
0
0
Seller's Market
1
4
1
1 3
$2,200,000 - $2,599,999 1
2
1 1 2 2 2
$1,300,000 - $1,399,999
1
9
4
$1,400,000 - $1,499,999
$1,200,000 - $1,299,999
4 4
2
$1,600,000 - $1,799,999 $1,500,000 - $1,599,999
50%
Total Sales Ratio2:
5
0
0
48
Total Sales: 24
$2,600,000 - $2,999,999
$1,800,000 - $2,199,999
Total Inventory:
0 0
$3,400,000 - $3,899,999 $3,000,000 - $3,399,999
9
3
1
4
2
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
0
NA
2 Bedrooms
NA
NA
NA
0
5
0%
3 Bedrooms
$2,230,000
62
3
14
14
100%
4 Bedrooms
$1,665,000
19
4
7
17
41%
5 Bedrooms
$1,666,500
10
4
1
8
13%
6+ Bedrooms
$1,362,500
120
5
2
4
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.
KAUAI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
$1,875,000
$2,187,500
$2,022,500
Inventory
Solds
$2,375,000
$2,212,500
$2,154,750 $1,899,500
$1,839,500
$1,935,000
$1,862,500
$2,030,000
$1,683,250
$1,515,000 110
104
9 Sep-20
107
18 Oct-20
101
91
15
14
Nov-20
Dec-20
89
84
20 Jan-21
85
22
14 Feb-21
73
18
Mar-21
Apr-21
56
May-21
57
55 30
24
20
Jun-21
48
24
16
Jul-21
Aug-21
Sep-21
Median Data Review | September Total Inventory Sept. 2020
Total Solds
Sept. 2021
104
Sept. 2021
48 VARIANCE: -54 %
24 VARIANCE: 167 %
Sale Price Per SqFt.
Sale to List Price Ratio
Sept. 2020
$
Sept. 2020
Sept. 2021
689
778 VARIANCE: 13 % $
9
Sept. 2020
Sept. 2021
Sales Price Sept. 2020
$
1.88m
1.68m VARIANCE: -10 % $
Days on Market Sept. 2020
92.73%
99.81% VARIANCE: 8 %
38
Sept. 2021
52 VARIANCE: 37 %
Kauai Market Summary | September 2021 • The Kauai single-family luxury market is a Seller's Market with a 50% Sales Ratio. • Homes sold for a median of 99.81% of list price in September 2021.
• The most active price band is $1,300,000-$1,399,999, where the sales ratio is 200%. • The median luxury sales price for single-family homes is $1,683,250.
• The median days on market for September 2021 was 52 days, up from 38 in September 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
Sept. 2021
KAUAI
Attached Homes
KAUAI
Luxury Inventory vs. Sales | September 2021 Inventory
Attached Homes
Sales
Luxury Benchmark Price 1: $950,000 $5,000,000+ $4,500,000 - $4,999,999
4
0
0 0
$4,000,000 - $4,499,999
$2,800,000 - $3,199,999 $2,400,000 - $2,799,999 $2,100,000 - $2,399,999
Total Sales: 15 Seller's Market
2
1
2
0
1
0
2
0
2
1
5
0
$1,400,000 - $1,599,999
6
3 4
$1,200,000 - $1,399,999 2
$1,100,000 - $1,199,999 $1,000,000 - $1,099,999
5
3
1
0
$950,000 - $999,999
1
37%
Total Sales Ratio2:
3
0
$1,800,000 - $2,099,999 $1,600,000 - $1,799,999
3
1
$3,600,000 - $3,999,999 $3,200,000 - $3,599,999
41
Total Inventory:
4
1
Beds3
Price
DOM
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0-1 Bedrooms
$1,800,000
26
3
1
1
100%
2 Bedrooms
$1,200,000
56
3
3
17
18%
3 Bedrooms
$1,250,000
7
3
9
13
69%
4 Bedrooms
$2,777,000
56
5
2
6
33%
5 Bedrooms
NA
NA
NA
0
4
0%
6+ Bedrooms
NA
NA
NA
0
0
NA
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
Inventory
Solds
$1,565,000 $1,400,000
$1,299,000
$1,100,000
70
$1,080,000
70
69
67
59
3
4
7
6
Sep-20
Oct-20
Nov-20
Dec-20
$1,395,000
$1,150,000
55
11 Jan-21
$1,199,000
$1,189,125
55
44
39
13
14
13
Feb-21
Mar-21
Apr-21
25
May-21
$1,375,000
$1,282,500
35
28
20
Jun-21
$1,495,000
$1,255,000
41
28
20
Jul-21
13
15
Aug-21
Sep-21
Median Data Review | September Total Inventory Sept. 2020
Sept. 2021
Sept. 2020
Sept. 2021
70
41 VARIANCE: -41 %
15 VARIANCE: 400 %
Sale Price Per SqFt.
Sale to List Price Ratio
Sept. 2020
$
Total Solds
Sept. 2021
734
858 VARIANCE: 17 % $
3
Sept. 2020
Sept. 2021
94.98%
97.35% VARIANCE: 2 %
Sales Price Sept. 2020
$
1.10m
1.26m VARIANCE: 14 % $
Days on Market Sept. 2020
12
Sept. 2021
15 VARIANCE: 25 %
Kauai Market Summary | September 2021 • The Kauai attached luxury market is a Seller's Market with a 37% Sales Ratio. • Homes sold for a median of 97.35% of list price in September 2021.
• The most active price band is $1,100,000-$1,199,999, where the sales ratio is 150%. • The median luxury sales price for attached homes is $1,255,000.
• The median days on market for September 2021 was 15 days, up from 12 in September 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
Sept. 2021
October
2021
Oahu Hawaii
OAHU
Single-Family Homes
Luxury Inventory vs. Sales | September 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,750,000 $9,500,000+ $8,500,000 - $9,499,999
3
0
$7,500,000 - $8,499,999
1
$6,500,000 - $7,499,999
Total Inventory:
3
Seller's Market
6
6
0
6
4
$3,500,000 - $4,099,999
11
5
$3,100,000 - $3,499,999
15
4
19
3
$2,300,000 - $2,699,999
26
13
$2,100,000 - $2,299,999
8
4
$1,900,000 - $2,099,999
13
6
$1,800,000 - $1,899,999
9
$1,750,000 - $1,799,999
1
34%
Total Sales Ratio2:
16
1
$4,100,000 - $4,699,999
$2,700,000 - $3,099,999
174
Total Sales: 59
1
$5,500,000 - $6,499,999 $4,700,000 - $5,499,999
22
1
10 10
7
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,960,000
4
3
25
44
57%
3,000 - 3,999
$2,547,000
4
4
13
31
42%
4,000 - 4,999
$3,050,000
4
5
11
31
35%
5,000 - 5,999
$4,150,000
5
6
7
23
30%
6,000 - 6,999
$10,990,500
5
6
1
10
10%
7,000+
$7,019,000
5
7
2
34
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
$2,450,000
$2,253,750
$2,034,000
232
229
35 Sep-20
224
32
208
28
Oct-20
$2,200,000
Nov-20
$2,365,000
174
50
Dec-20
Inventory
$2,650,000 $2,250,000
172
29 Jan-21
170
$2,430,000
Solds
$2,527,500
169
168
40
49
Feb-21
Mar-21
Apr-21
May-21
$2,340,000
178
150 67
60
49
$2,552,500
$2,270,000
174 56
Jun-21
$2,425,000
Jul-21
174 66
59
Aug-21
Sep-21
Median Data Review | September Total Inventory Sept. 2020
Total Solds
Sept. 2021
229
174 VARIANCE: -24 % Sale Price Per SqFt.
Sept. 2020
$
779 VARIANCE: 22 % $
Sept. 2021
35
59 VARIANCE: 69 %
Sept. 2020
$
2.45m
Sept. 2020
Sept. 2021
$
Days on Market Sept. 2020
97.32%
100.00% VARIANCE: 3 %
23
Sept. 2021
14 VARIANCE: -39 %
Oahu Market Summary | September 2021 • The Oahu single-family luxury market is a Seller's Market with a 34% Sales Ratio. • Homes sold for a median of 100.00% of list price in September 2021.
• The most active price band is $1,800,000-$1,899,999, where the sales ratio is 90%. • The median luxury sales price for single-family homes is $2,425,000.
• The median days on market for September 2021 was 14 days, down from 23 in September 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
Sept. 2021
2.43m VARIANCE: -1 %
Sale to List Price Ratio
Sept. 2021
637
Sept. 2020
Sales Price
OAHU
Attached Homes
Luxury Inventory vs. Sales | September 2021 Inventory
Sales
Luxury Benchmark Price 1: $750,000 $7,000,000+ $6,000,000 - $6,999,999 $5,200,000 - $5,999,999
$3,200,000 - $3,799,999
8
0
$1,500,000 - $1,799,999
Seller's Market
15
Total Sales Ratio2:
14
0
10
2
30
2
33
1 24
2
$1,200,000 - $1,499,999
35
16
$1,000,000 - $1,199,999
33
9
$900,000 - $999,999
28
17
$800,000 - $899,999
38
28
$750,000 - $799,999
1
31%
8
1
$2,200,000 - $2,599,999
$1,800,000 - $2,199,999
Total Sales: 101
1
$2,600,000 - $3,199,999
329
Total Inventory:
2
0
$4,400,000 - $5,199,999 $3,800,000 - $4,399,999
8
1
43
21
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$870,000
1
2
19
98
19%
1,000 - 1,499
$872,500
2
2
44
106
42%
1,500 - 1,999
$925,000
3
2
28
47
60%
2,000 - 2,499
$1,205,500
3
3
8
33
24%
2,500 - 2,999
$3,100,000
3
3
1
17
6%
3,000+
$9,999,999
3
4
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
$990,000
$918,888
$860,000
467
465
45 Sep-20
453
394
41
55
Nov-20
Dec-20
44 Oct-20
$890,000
$875,000
$903,500
345
360
44 Jan-21
Inventory
$970,000
338
76
87
Feb-21
Mar-21
Solds
$949,000
$981,500
324
301 83
Apr-21
$960,000
May-21
Jun-21
329 146
125
121
$910,000
283
278
273 88
$955,000
$875,000
Jul-21
101
Aug-21
Sep-21
Median Data Review | September Total Inventory Sept. 2020
Total Solds
Sept. 2021
467
Sept. 2021
329 VARIANCE: -30 %
101 VARIANCE: 124 %
Sale Price Per SQFT.
Sale to List Price Ratio
Sept. 2020
$
Sept. 2020
Sept. 2021
730
740 VARIANCE: 1 % $
45
Sept. 2020
Sept. 2021
96.65%
100.00% VARIANCE: 3 %
Sales Price Sept. 2020
990k
910k VARIANCE: -8 %
$
$
Days on Market Sept. 2020
37
Sept. 2021
16 VARIANCE: -57 %
Oahu Market Summary | September 2021 • The Oahu attached luxury market is a Seller's Market with a 31% Sales Ratio. • Homes sold for a median of 100.00% of list price in September 2021.
• The most active price band is $800,000-$899,999, where the sales ratio is 74%. • The median luxury sales price for attached homes is $910,000.
• The median days on market for September 2021 was 16 days, down from 37 in September 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
Sept. 2021
October
2021
Maui Hawaii
MAUI
Single-Family Homes
Luxury Inventory vs. Sales | September 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,500,000 $12,000,000+ $9,900,000 - $11,999,999 $7,900,000 - $9,899,999
7
0
5
0
9
0
$5,900,000 - $7,899,999
$3,900,000 - $4,899,999
5
3
11
2
4
0
3 3
$1,800,000 - $1,999,999
11
2 1
3 4 4
$1,600,000 - $1,699,999
1
12
7
$2,000,000 - $2,199,999
$1,500,000 - $1,599,999
31%
9
$2,400,000 - $2,899,999
$1,700,000 - $1,799,999
Total Sales Ratio2:
5
$3,400,000 - $3,899,999
$2,200,000 - $2,399,999
Seller's Market
6
3
$2,900,000 - $3,399,999
Total Sales: 32
8
1
$4,900,000 - $5,899,999
102
Total Inventory:
5
1
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$2,837,500
3
3
8
31
26%
2,000 - 2,999
$2,425,000
3
3
9
20
45%
3,000 - 3,999
$2,486,000
4
4
10
22
45%
4,000 - 4,999
$4,100,000
4
5
3
13
23%
5,000 - 5,999
NA
NA
NA
0
6
0%
6,000+
$5,462,500
6
6
2
10
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.
MAUI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$3,550,000
$2,775,000 $2,149,000 172
179
170
14 Sep-20
$2,412,500
$2,262,500
$2,100,000
Oct-20
155
129
26
26
Nov-20
Dec-20
18
$2,600,000
125
24 Jan-21
116
$2,495,000
116
$2,874,500
$2,680,000
$2,575,000
$2,332,500
118
103
29
35
43
34
Feb-21
Mar-21
Apr-21
May-21
112
103 40
39
Jun-21
$2,775,000
Jul-21
102
30
32
Aug-21
Sep-21
Median Data Review | September Total Inventory Sept. 2020
Total Solds
Sept. 2021
172
Sept. 2021
102 VARIANCE: -41 %
32 VARIANCE: 129 %
Sale Price Per SqFt.
Sale to List Price Ratio
Sept. 2020
$
Sept. 2020
Sept. 2021
739
954 VARIANCE: 29 % $
14
Sept. 2020
Sept. 2021
Sales Price Sept. 2020
$
2.15m
2.78m VARIANCE: 29 % $
Days on Market Sept. 2020
94.95%
97.29% VARIANCE: 2 %
160
Sept. 2021
100 VARIANCE: -38 %
Maui Market Summary | September 2021 • The Maui single-family luxury market is a Seller's Market with a 31% Sales Ratio. • Homes sold for a median of 97.29% of list price in September 2021.
• The most active price band is $1,600,000-$1,699,999, where the sales ratio is 100%. • The median luxury sales price for single-family homes is $2,775,000.
• The median days on market for September 2021 was 100 days, down from 160 in September 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
Sept. 2021
MAUI
Attached Homes
Luxury Inventory vs. Sales | September 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,200,000 3 3
$4,500,000+ $3,600,000 - $4,499,999 $3,100,000 - $3,599,999
148%
7
1 1 0
4
$1,800,000 - $1,899,999 $1,700,000 - $1,799,999
1
4 3
1 1
$1,600,000 - $1,699,999
3 3
$1,500,000 - $1,599,999 1
$1,400,000 - $1,499,999
1
Total Sales Ratio2:
0
1
$1,200,000 - $1,299,999
Seller's Market
3
1
$2,000,000 - $2,199,999
$1,300,000 - $1,399,999
27
Total Sales: 40
2 2
$2,400,000 - $2,599,999
$1,900,000 - $1,999,999
Total Inventory:
4
1
$2,600,000 - $3,099,999
$2,200,000 - $2,399,999
6
3
3
0 0 1
4
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,625,000
1
2
3
5
60%
1,000 - 1,499
$1,800,000
2
2
11
6
183%
1,500 - 1,999
$1,925,000
3
3
19
6
317%
2,000 - 2,499
$2,900,000
3
3
5
1
500%
2,500 - 2,999
$5,275,000
3
4
2
9
22%
3,000+
NA
NA
NA
0
0
NA
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
$2,370,000
Inventory
Solds
$2,275,000 $2,025,000 $1,800,000 $1,500,000
$1,475,000 166
161
145
$1,700,000
$1,700,000
Sep-20
Oct-20
$1,769,000
$1,927,000
164
104 69
9
$1,648,000
$1,500,000
109
20
$1,746,250
19 Nov-20
37
Dec-20
15 Jan-21
62
58
25 Feb-21
Mar-21
52
Apr-21
48
50
May-21
38
42
37
Jun-21
47
25
Jul-21
36
27
Aug-21
40
Sep-21
Median Data Review | September Total Inventory Sept. 2020
Total Solds
Sept. 2021
145
Sept. 2021
27 VARIANCE: -81 %
40 VARIANCE: 344 %
Sale Price Per SqFt.
Sale to List Price Ratio
Sept. 2020
$
Sept. 2020
9
Sept. 2021
Sept. 2020
1,336 VARIANCE: 6 %
98.23%
1,264
$
Sept. 2021
100.00% VARIANCE: 2 %
Sales Price Sept. 2020
$
1.48m
Sept. 2021
1.93m VARIANCE: 31 % $
Days on Market Sept. 2020
Sept. 2021
107
91 VARIANCE: -15 %
Maui Market Summary | September 2021 • The Maui attached luxury market is a Seller's Market with a 148% Sales Ratio. • Homes sold for a median of 100.00% of list price in September 2021.
• The most active price bands are $1,200,000-$1,299,999 and $1,800,000-$1,899,999, where the sales ratio is 400%.
• The median luxury sales price for attached homes is $1,927,000.
• The median days on market for September 2021 was 91 days, down from 107 in September 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
October
2021
Island of Hawaii
ISLAND OF HAWAII
Single-Family Homes
Luxury Inventory vs. Sales | September 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,100,000 $9,000,000+ $7,800,000 - $8,999,999 $6,800,000 - $7,799,999
5
0
0 0
Total Inventory:
Total Sales Ratio2:
0 0
$4,200,000 - $4,999,999
7
1 2
$2,800,000 - $3,399,999 0
4 3
$2,000,000 - $2,399,999
6
3
$1,700,000 - $1,999,999
5
2
$1,400,000 - $1,699,999
$1,300,000 - $1,399,999
1
15
6 0 0
$1,200,000 - $1,299,999 $1,100,000 - $1,199,999
47%
4
1
$3,400,000 - $4,199,999
$2,400,000 - $2,799,999
Seller's Market
2 2
$5,800,000 - $6,799,999 $5,000,000 - $5,799,999
Total Sales: 28
4
0
60
5
7
3
1
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,500,000
3
3
9
28
32%
3,000 - 3,999
$3,250,000
4
5
4
10
40%
4,000 - 4,999
$3,000,000
4
6
4
3
133%
5,000 - 5,999
$6,623,750
7
7
2
4
50%
6,000 - 6,999
NA
NA
NA
0
0
NA
7,000+
NA
NA
NA
0
0
NA
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 $2,400,000
$2,137,500
$2,025,000
$2,001,500
$1,788,500 $1,595,000
$1,499,500 141
136
27 Sep-20
130
107
28
28
Nov-20
Dec-20
20 Oct-20
120
$1,632,500
93 31
Jan-21
$1,990,000 $1,800,000
$1,760,000
77 36
43
Feb-21
Mar-21
67
72
42
Apr-21
40
May-21
$1,775,000
63
$1,630,000
57 27
53
Jun-21
Jul-21
60 27
28
Aug-21
Sep-21
24
Median Data Review | September Total Inventory Sept. 2020
Sept. 2021
136
60 VARIANCE: -56 % Sale Price Per SqFt.
Sept. 2020
$
Sept. 2021
627
781 VARIANCE: 25 % $
Total Solds Sept. 2020
Sept. 2021
27
28 VARIANCE: 4 %
Sales Price Sept. 2020
$
2.03m
1.99m VARIANCE: -2 %
Sale to List Price Ratio Sept. 2020
Sept. 2021
95.45%
97.50% VARIANCE: 2 %
$
Days on Market Sept. 2020
42
Sept. 2021
50 VARIANCE: 19 %
Island of Hawaii Market Summary | September 2021 • The Island of Hawaii single-family luxury market is a Seller's Market with a 47% Sales Ratio. • Homes sold for a median of 97.50% of list price in September 2021.
• The most active price band is $2,800,000-$3,399,999, where the sales ratio is 200%. • The median luxury sales price for single-family homes is $1,990,000.
• The median days on market for September 2021 was 50 days, up from 42 in September 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
Sept. 2021
ISLAND OF HAWAII
Attached Homes
Luxury Inventory vs. Sales | September 2021 Inventory
Sales
Luxury Benchmark Price 1: $950,000 $4,500,000+ 1 1
$4,000,000 - $4,499,999 $3,500,000 - $3,999,999
$3,100,000 - $3,499,999 $2,700,000 - $3,099,999 $2,400,000 - $2,699,999 $2,100,000 - $2,399,999
3
2
6
1 3
0 0 0
1
Total Sales: 18
1
Seller's Market Total Sales Ratio2: 53%
2
0
3 3
$1,800,000 - $2,099,999 1
$1,600,000 - $1,799,999
3 2 2
$1,400,000 - $1,599,999 $1,300,000 - $1,399,999 $1,200,000 - $1,299,999
3
2 2
0
$1,100,000 - $1,199,999
4
1 1 1
$1,000,000 - $1,099,999
1
$950,000 - $999,999
1
Total Inventory: 34
2
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,550,000
2
3
1
1
100%
1,000 - 1,499
NA
NA
NA
0
11
0%
1,500 - 1,999
$1,300,000
3
3
7
7
100%
2,000 - 2,499
$1,924,000
4
3
5
2
250%
2,500 - 2,999
$1,400,000
3
4
1
4
25%
3,000+
$4,495,000
4
4
1
4
25%
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 $2,222,500 $1,750,000
$1,480,000 78
76
65
$1,500,000
$1,420,000
$1,427,500
9 Sep-20
13
Oct-20
$1,625,000
$1,595,000
$1,400,000
$1,340,000
$1,625,000
64 41
19
$1,425,000
Nov-20
25
Dec-20
24
Jan-21
26
22
22
Feb-21
28
26
Mar-21
31
Apr-21
29
17
May-21
24
28
17
Jun-21
35
23
Jul-21
34 16
18
Aug-21
Sep-21
Median Data Review | September Total Inventory Sept. 2020
Sept. 2020
Sept. 2021
78
34 VARIANCE: -56 %
18 VARIANCE: 100 %
Sale Price Per SqFt.
Sale to List Price Ratio
Sept. 2020
$
Sept. 2021
Total Solds
Sept. 2021
500
775 VARIANCE: 55 % $
9
Sept. 2020
Sept. 2021
99.00%
100.00% VARIANCE: 1 %
Sales Price Sept. 2020
$
1.48m
1.63m VARIANCE: 10 % $
Days on Market Sept. 2020
50
Sept. 2021
5 VARIANCE: -90 %
Island of Hawaii Market Summary | September 2021 • The Island of Hawaii attached luxury market is a Seller's Market with a 53% Sales Ratio. • Homes sold for a median of 100.00% of list price in September 2021.
• The most active price band is $1,600,000-$1,799,999, where the sales ratio is 300%. • The median luxury sales price for attached homes is $1,625,000.
• The median days on market for September 2021 was 5 days, down from 50 in September 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
Sept. 2021
KAUAI
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OAHU
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MAUI
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HAWAII ISLAND
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