KAUAI
|
OAHU
|
MAUI
|
HAWAII ISLAND
Luxury Market Report Hawaii, January 2022
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 priceper-square-foot – 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 Long-Term Trends Defining the Luxury Market in 2022 Typically, in our January market report we take the time to review what occurred during the previous year and what to expect in the upcoming year. This year, however, we are going to review three key trends, how and why they came to be, and why they could possibly shape the luxury real estate market in 2022 and beyond. The luxury real estate market had an outstanding year in 2021, probably one of the strongest years with historic price increases in both the single family and attached markets, and sold properties recorded numbers above 2020 despite an unprecedented decline of inventory levels. WILL INVENTORY LEVELS INCREASE? Inventory levels started to decrease in October/November 2020. However, what was different to typical years was that the level of sales did not decline, even in the attached market, which, during the first six to seven months of pandemic, had come close to a standstill. Equally, the level of new inventory entering the market was starting to show a serious differential against the level of sales. The beginning of 2021 marked the start of a trend that came to affect the level of sales for the rest of the year. When the spring season arrived, the new inventory levels failed to reach typical levels and demand escalated to a frenzy. By July, the luxury market started to calm down, however as inventory levels hardly rose, sales still outpaced inventory. This trend continued and by the end of 2021, a significant number of markets have less than 50-70% inventory compared to the end of 2020. What repercussions does this trend imply for 2022? Will we see another year of low inventory, quick sales, and increased prices? Let us look at a few changed parameters that may cool this red-hot market.
Firstly, the average price for single-family homes in the top 10% of the North American market have risen close to 25% to approximately $1.7 million and attached properties in the top 10% have risen 15% to approximately $1 million. Even in the luxury market, there is always a natural threshold cap, where even the affluent start to question the viability of purchasing at what may be the top of the market. Mostly, the affluent do not NEED to buy a property, instead they are searching for a property with desirable attributes, which usually includes a good investment return potential. If not found, they will find an alternative or wait. For instance, in 2021, new luxury communities, neighborhoods, and enclaves appeared as the affluent chose to invest away from highly competitive markets. Secondly, it is likely that the convergence of more sellers being ready to list, believing that their properties have reached their max ROI, and a smaller buyer demand, either because they already bought in 2021 or are looking at other locations or investment opportunities, could bring some markets into a more balanced equilibrium, with supply moving closer to demand. More inventory could be self-reinforcing as sellers recognize that in order to buy a new home that they need to put themselves in a more competitive state, which often means they need to sell their home and become cash buyers. Lastly, 2022 will see the benefit of new inventory heading into the market. Both builders and developers, now that supply lines issues for materials have eased and the trends of luxury buyer requirements have been established, are keen to complete new projects. MIGRATION, RELOCATIONS AND EMERGING LUXURY MARKETS One of the largest trends to unfold from the pandemic was the significant movement of individuals. The affluent, often leaders of new trends, were certainly the first to extract themselves from densely populated markets, relocating to exurban areas until they could establish the impact of COVID-19 on their lifestyles. COVID-19 equally had an impact on the decision process for many affluent people, from expediting their plans from downsizing, migrating to another state for the weather, taxes, jobs, or a change of lifestyle, to investing in new emerging markets, which were already attracting residential and commercial opportunities.
As trends such as remote working and flexi-hours took hold in 2021, so too did the flexibility of relocating as well as the growth of second homeownership. According to a recent report — A Look at Wealth 20211 — over 70% of individuals in the US with a net worth over $5 million now own at least two homes. It could be fair to say that this percentage might be similar in Canada, given that both countries have a 10% national rate of second home ownership. Heading into 2022, the trend for new ownership is considered to be an integral part of the on-going strength of the luxury real estate market. The growth of wealth, as well as the number of new wealthy buyers entering the luxury market has continued to grow and these buyers are putting more stock in homeownership than ever before. These new affluent will continue to underpin the market as they look to either upgrade their current home, buy additional properties, find investment opportunities, and/or divest their newfound wealth in crypto-currencies and the like, into the more stable asset of property ownership. On the other side, are the homeowners who decided not to sell their properties during the height of the pandemic, but who are now ready to realize their equity by selling and either relocating, downsizing, or both during 2022. Another trend important for the upcoming year is the desire for multiple ownership. The affluent who are able to work remotely are now setting up co-primary homes that allow them the flexibility of choosing to live in multiple markets that offer different lifestyles — whether that is city, countryside, mountain, lake, beach, or resort life. Migration to emerging markets is also set to continue, as many of these smaller cities are recipients of the relocation of a major corporation or a new business center start-up. These markets are not only attracting new residents, but also providing opportunities for the affluent to set up subsidiary businesses while taking advantage of more affordable luxury properties.
HEALTH, WELLNESS, SUSTAINABILITY AND THE ENVIRONMENT 2021 saw many discussions about the state of our environment, the abuse of our health, wellness, and natural resources — which in many ways was also forced to the forefront by the pandemic. In 2020 and 2021, luxury developers and residential and commercial builders — especially in the high-rise sector – began to recognize that individuals were no longer comfortable in small spaces or sharing common areas and there was a growing concern about the quality of control of amenities such as heating, ventilation, and air quality. Equally, it has been acknowledged that the building sector currently contributes nearly 40% of carbon emissions globally, with 70% of these in urban areas. In 2022, the real estate industry’s leadership — the Urban Land Institute, a worldwide alliance of leading real estate owners, investors, and strategic partners — has committed to providing guidance on prioritizing sustainable development and operational practices to help inform sustainable policies at all levels of government, especially local. In a recent study by Google, 82% of shoppers said that sustainability is a bigger focus for them now than it was before the pandemic.2 Growing trends amongst the wealthy, which clearly show an understanding of environmental and sustainability issues, could once again prove to be the leadership that directs luxury industries into rethinking and implementing new sustainable practices in their processes – and as with other trends if these prove to have longevity then they will filter down into other industry sectors. In conclusion, 2022 may still prove to be an uneasy year, as the world still faces many uncertainties from the pandemic, environmentally, economically as well as politically, but there are bright spots as there is refocus on how, not just the affluent, but individuals in general are recognizing the need for social and environment change. 1
https://blog.coldwellbankerluxury.com/a-look-at-wealth-2021-real-estates-new-power-players/
2
https://www.thinkwithgoogle.com/consumer-insights/consumer-trends/consumer-sustainability-trends/
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
40
35
36
34
37
34
33
19
20
21
11 10 13
11 12
16
10 12
14 16
12 14
17
15
14 15
12
16
0 DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
OCT
$556 $436
SEP
$430
$416
$501
$514
$540 $423
$486 $406
JUN
$385
$404
MAY
$492
$521
$406
$495
$513 $398
$483 $386
$492
$496 $392
$300
$375
$400
$489
$500
$386
Price per Square Foot
$600
NOV
DEC
$200
$100
$0 DEC
JAN
FEB
MAR
APR
JUL
AUG
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 DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
Discrepancies in previous month statistics between the December 2021 and January 2022 reports are due to the addition of Telluride, CO and Lake Norman, NC.
DEC
Luxury Monthly Market Review A Review of Key Market Differences Year over Year December 2020 | December 2021
Single-Family Homes December 2020
Median List Price
Median Sale Price Total Sales Ratio
$1,687,500
$1,862,222
97.72%
100.00%
$1,392,500
Median SP/LP Ratio Median Price per Sq. Ft.
December 2021
41.74% $386
$1,375,000
76.71% $436
December 2020
December 2021
Total Inventory
30,665
20,480
Total Sold
12,800
15,711
3,802
3,359
New Listings
5,998
Median Days on Market Average Home Size
34
5,117 17
Median prices represent properties priced above respective city benchmark prices.
881
2,911
New Listings
Total Sold
17
34.97%
Med. Sale Price
Days on Market
Sales Ratio
17,500
$
Single-Family homes market summary | December 2021 •
Official Market Type: Seller's Market with a 76.71% Sales Ratio.1
•
Homes are selling for an average of 100.00% of list price.
•
The median luxury threshold2 price is $937,500, and the median luxury home sales price is $1,375,000.
•
Markets with the Highest Median Sales Price: Vail ($6,400,000), Telluride ($4,325,000), Park City ($3,820,000), and Los Angeles Beach Cities ($3,695,000).
•
Markets with the Highest Sales Ratio: East Bay (666%), Waterloo Region (529%), Greater Seattle (412%) and Silicon Valley (287%). 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 December 2020 | December 2021
Attached Homes December 2020
Median List Price
Median Sale Price
Median SP/LP Ratio Total Sales Ratio
Median Price per Sq. Ft.
December 2021
$1,024,495
$1,222,000
98.71%
100.00%
$888,500
25.88% $489
$839,000 59.49% $556
December 2020
Total Inventory New Listings
December 2021
14,455
8,149
3,741
4,848
2,841
Total Sold
Median Days on Market Average Home Size
34
2,069
2,176 16
1,890
Median prices represent properties priced above respective city benchmark prices.
665
New Listings
1,107 Total Sold
Med. Sale Price
Days on Market
48,600
$
18
33.61% Sales Ratio
Attached Homes Market Summary | December 2021 •
Official Market Type: Seller's Market with a 59.49% 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 $839,900.
•
Markets with the Highest Median Sales Price: Vail ($3,985,000), Maui ($2,325,000), San Francisco ($2,300,000), and Greater Boston ($2,099,000).
•
Markets with the Highest Sales Ratio: Waterloo Region (6100%), Douglas County (1100%), GTADurham (875%) and East Bay (558%). 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
$1,227,500
$1,029,000
244
84
117
42
Seller's
AZ
Paradise Valley
$5,372,500
$3,278,423
92
11
36
53
Seller's
AZ
Phoenix
$849,450
$768,500
272
82
398
35
Seller's
AZ
Scottsdale
$2,612,889
$1,675,000
241
77
214
32
Seller's
AZ
Tucson
$759,950
$650,000
388
138
298
12
Seller's
BC
Mid Vancouver Island
$1,750,000
$1,626,500
120
23
8
20
Buyer's
BC
Okanagan Valley
$1,999,000
$1,520,000
331
71
47
47
Buyer's
BC
Vancouver
$4,698,000
$3,550,000
787
111
94
22
Buyer's
BC
Victoria
$2,399,900
$2,000,005
33
11
21
21
Seller's
CA
Central Coast
$4,050,000
$2,385,000
73
20
79
32
Seller's
CA
East Bay
$2,349,000
$1,950,000
59
39
393
9
Seller's
CA
Greater Palm Springs
$2,600,000
$1,725,000
131
44
116
24
Seller's
CA
Lake Tahoe
$2,982,500
$2,000,000
68
15
53
26
Seller's
CA
Los Angeles Beach Cities
$6,500,000
$3,695,000
171
32
121
19
Seller's
CA
Los Angeles City
$6,995,000
$3,612,000
391
83
204
20
Seller's
CA
Los Angeles The Valley
$3,289,000
$2,015,000
181
58
191
16
Seller's
CA
Marin County
$3,972,500
$2,810,000
28
7
39
22
Seller's
CA
Napa County
$3,995,000
$2,400,000
54
3
29
83
Seller's
CA
Orange County
$3,999,444
$2,300,000
346
108
435
10
Seller's
CA
Placer County
$1,294,000
$1,040,000
82
10
65
12
Seller's
CA
Sacramento
$930,000
$895,000
240
39
183
10
Seller's
CA
San Diego
$2,995,000
$1,850,000
309
116
420
8
Seller's
CA
San Francisco
$5,995,000
$3,330,000
36
5
76
13
Seller's
CA
San Luis Obispo County
$1,999,000
$1,375,000
83
16
67
N/A
Seller's
CA
Santa Barbara
$6,495,000
$2,987,500
76
18
46
11
Seller's
CA
Silicon Valley
$5,999,975
$3,500,000
106
46
304
8
Seller's
CA
Sonoma County
$2,295,000
$2,000,000
81
16
49
43
Seller's
CA
Ventura County
$2,995,000
$1,795,000
117
33
121
36
Seller's
CO
Boulder
$2,599,000
$1,629,744
59
12
75
44
Seller's
CO
Colorado Springs
$991,400
$850,000
149
41
128
14
Seller's
CO
Denver
$1,799,500
$1,375,000
160
43
223
8
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
CO
Douglas County
$1,712,000
$1,200,000
80
24
117
9
Seller's
CO
Durango
$1,825,000
$1,025,000
56
9
20
64
Seller's
CO
Summit County
$3,799,000
$1,600,000
17
3
11
28
Seller's
CO
Telluride
$7,645,000
$4,325,000
48
4
9
178
Balanced
CO
Vail
$5,947,500
$6,400,000
36
10
15
62
Seller's
CT
Central Connecticut
$670,000
$603,750
255
28
146
31
Seller's
CT
Coastal Connecticut
$2,397,500
$1,912,500
380
54
174
52
Seller's
DC
Washington D.C.
$4,889,000
$2,487,500
34
3
12
15
Seller's
DE
Sussex County Coastal
$1,499,900
$1,275,000
57
7
35
9
Seller's
FL
Boca Raton/Delray Beach
$3,912,500
$2,350,000
162
59
112
29
Seller's
FL
Coastal Pinellas County
$2,290,000
$1,830,000
47
14
44
10
Seller's
FL
Greater Fort Lauderdale
$1,999,900
$1,050,000
475
133
299
21
Seller's
FL
Jacksonville Beaches
$1,969,500
$1,250,000
98
31
69
15
Seller's
FL
Lee County
$1,550,000
$1,359,500
226
66
152
17
Seller's
FL
Marco Island
$3,470,000
$2,185,900
48
10
22
28
Seller's
FL
Miami
$2,290,000
$1,737,500
471
120
166
35
Seller's
FL
Naples
$5,299,000
$2,500,000
160
43
105
17
Seller's
FL
Orlando
$1,365,000
$1,200,000
280
75
157
18
Seller's
FL
Palm Beach Towns
$7,495,000
$3,640,000
103
25
46
29
Seller's
FL
Sarasota & Beaches
$2,695,000
$2,100,000
151
51
67
15
Seller's
FL
South Pinellas County
$1,725,000
$1,301,000
89
33
101
10
Seller's
FL
South Walton
$2,699,000
$2,200,000
141
48
79
15
Seller's
FL
Tampa
$975,000
$697,681
353
114
377
7
Seller's
FL
Weston
$1,375,000
$882,000
19
9
44
11
Seller's
GA
Atlanta
$1,650,000
$1,267,500
322
72
198
15
Seller's
GA
Duluth
$950,000
$1,510,000
7
4
11
7
Seller's
HI
Island of Hawaii
$2,895,000
$1,650,000
59
23
41
26
Seller's
HI
Kauai
$3,900,000
$2,312,500
57
14
22
44
Seller's
HI
Maui
$3,925,000
$2,162,500
106
30
30
82
Seller's
HI
Oahu
$3,500,000
$2,690,000
150
27
51
17
Seller's
ID
Northern
$1,200,000
$845,000
141
22
151
76
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
IL
Chicago
$1,554,995
$1,300,000
372
65
295
25
Seller's
IL
DuPage County
$1,249,000
$935,000
195
30
91
39
Seller's
IL
Lake County
$1,197,450
$925,000
170
20
107
46
Seller's
IL
Will County
$750,000
$574,500
131
21
86
22
Seller's
IN
Hamilton County
$970,000
$739,900
43
20
87
4
Seller's
KS
Johnson County
$829,377
$803,495
141
15
104
4
Seller's
MA
Greater Boston
$3,975,000
$2,587,500
53
4
52
21
Seller's
MD
Anne Arundel County
$1,100,000
$925,000
85
28
103
6
Seller's
MD
Frederick County
$886,995
$899,000
42
13
23
8
Seller's
MD
Howard County
$1,198,995
$1,000,000
58
12
34
7
Seller's
MD
Montgomery County
$2,300,000
$1,625,000
60
19
105
8
Seller's
MD
Talbot County
$3,212,500
$2,250,000
26
3
16
16
Seller's
MD
Worcester County
$1,173,000
$985,000
32
6
17
28
Seller's
MI
Livingston County
$800,000
$639,500
53
13
20
37
Seller's
MI
Monroe County
$749,900
$565,000
13
4
4
79
Seller's
MI
Oakland County
$829,700
$637,000
439
103
279
17
Seller's
MI
Washtenaw County
$900,000
$715,000
97
20
38
10
Seller's
MI
Wayne County
$796,250
$580,000
122
30
89
17
Seller's
MN
Olmsted County
$889,900
$779,500
44
6
26
23
Seller's
MN
Twin Cities
$1,295,000
$1,049,900
329
91
171
17
Seller's
MO
Kansas City
$655,000
$643,845
543
84
353
6
Seller's
MO
St. Louis
$849,950
$630,500
66
18
78
7
Seller's
NC
Charlotte
$1,195,000
$954,750
213
43
268
6
Seller's
NC
Lake Norman
$1,050,104
$1,024,999
91
13
77
9
Seller's
NC
Raleigh-Durham
$1,333,000
$917,500
133
31
206
2
Seller's
NJ
Ocean County
$977,450
$815,000
210
48
161
22
Seller's
NV
Lake Tahoe
$4,475,000
$1,952,000
28
4
11
101
Seller's
NV
Las Vegas
$825,000
$725,000
1,022
306
670
17
Seller's
NV
Reno
$2,369,500
$1,755,000
42
8
29
75
Seller's
NY
Brooklyn
$1,799,000
$1,545,000
214
27
36
109
Balanced
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
$1,999,000
$1,500,000
519
88
143
67
Seller's
NY
Staten Island
$1,299,450
$1,290,000
94
19
19
56
Balanced
NY
Suffolk County
$1,850,000
$1,300,000
614
82
182
50
Seller's
OH
Cincinnati
$819,000
$705,250
171
12
42
9
Seller's
OH
Cleveland Suburbs
$855,182
$555,000
18
1
18
29
Seller's
ON
GTA - Durham
$2,474,950
$1,530,000
42
34
79
7
Seller's
ON
GTA - York
$3,198,000
$1,946,944
167
138
208
9
Seller's
ON
Oakville
$7,015,000
$2,250,000
12
14
33
6
Seller's
ON
Toronto
$3,895,000
$2,982,500
179
57
76
13
Seller's
ON
Waterloo Region
$1,874,444
$1,312,385
14
16
74
7
Seller's
OR
Portland
$1,722,500
$1,100,000
170
33
202
10
Seller's
SC
Charleston
$2,024,500
$1,512,500
126
47
128
10
Seller's
TN
Nashville
$2,750,000
$1,400,000
118
34
219
3
Seller's
TX
Austin
$1,075,000
$950,000
212
84
363
8
Seller's
TX
Collin County
$727,400
$679,500
234
91
404
8
Seller's
TX
Dallas
$1,472,500
$1,150,000
120
40
151
10
Seller's
TX
Denton County
$817,500
$700,000
162
70
277
6
Seller's
TX
Fort Worth
$942,023
$785,000
287
108
277
8
Seller's
TX
Houston
$975,000
$880,000
894
189
377
28
Seller's
TX
San Angelo
$745,000
$565,000
51
0
7
59
Buyer's
TX
San Antonio
$799,950
$752,818
246
53
146
27
Seller's
TX
The Woodlands & Spring
$991,680
$776,950
122
35
130
12
Seller's
UT
Park City
$4,950,000
$3,820,000
71
24
40
23
Seller's
VA
Arlington & Alexandria
$2,197,000
$1,799,500
50
13
34
17
Seller's
VA
Charlottesville
$1,474,500
$1,000,000
66
7
36
17
Seller's
VA
Fairfax County
$2,435,000
$1,577,500
161
45
134
16
Seller's
VA
McLean & Vienna
$3,139,000
$2,150,000
92
26
53
11
Seller's
VA
Richmond
$800,000
$765,000
109
17
128
7
Seller's
WA
Greater Seattle
$2,290,000
$1,750,000
111
48
457
5
Seller's
WA
Seattle
$3,050,000
$1,699,900
45
10
105
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
$782,725
$683,750
100
19
12
32
Buyer's
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$1,312,000
$805,000
64
26
82
39
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Mid Vancouver Island
$840,000
$805,000
61
13
1
5
Buyer's
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$2,099,950
$1,700,000
560
107
103
29
Balanced
BC
Victoria
$1,299,999
$932,500
73
41
46
14
Seller's
CA
Central Coast
$1,272,500
$1,040,000
6
4
18
7
Seller's
CA
East Bay
$999,498
$1,102,500
24
13
134
10
Seller's
CA
Greater Palm Springs
-
-
-
-
-
-
-
CA
Lake Tahoe
$1,495,000
$1,652,990
9
0
11
28
Seller's
CA
Los Angeles Beach Cities
$2,375,000
$1,675,000
57
10
85
12
Seller's
CA
Los Angeles City
$1,899,000
$1,395,000
224
60
105
17
Seller's
CA
Los Angeles The Valley
$854,475
$799,500
38
18
86
16
Seller's
CA
Marin County
$1,340,000
$1,047,500
4
1
12
27
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,124,945
$1,000,000
85
55
201
8
Seller's
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,499,999
$1,042,500
91
53
190
7
Seller's
CA
San Francisco
$3,000,000
$2,300,000
62
9
45
25
Seller's
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Santa Barbara
$2,570,000
$1,300,000
6
2
9
5
Seller's
CA
Silicon Valley
$1,660,000
$1,660,000
27
22
110
9
Seller's
CA
Sonoma County
$878,382
$760,000
5
2
10
31
Seller's
CA
Ventura County
$879,000
$751,000
27
9
36
16
Seller's
CO
Boulder
$1,299,000
$814,606
17
5
32
42
Seller's
CO
Colorado Springs
-
-
-
-
-
-
-
CO
Denver
$1,050,000
$912,250
87
19
52
30
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
CO
Douglas County
$525,000
$560,456
1
2
11
4
Seller's
CO
Durango
$769,500
$762,450
8
6
8
74
Seller's
CO
Summit County
$2,124,000
$1,212,500
2
1
6
9
Seller's
CO
Telluride
-
-
-
-
-
-
-
CO
Vail
$6,525,000
$3,985,000
45
11
16
5
Seller's
CT
Central Connecticut
-
-
-
-
-
-
-
CT
Coastal Connecticut
$1,400,000
$809,500
115
7
48
52
Seller's
DC
Washington D.C.
$2,000,000
$1,649,000
138
23
80
14
Seller's
DE
Sussex County Coastal
$1,045,000
$839,900
12
3
17
5
Seller's
FL
Boca Raton/Delray Beach
$1,859,000
$935,000
131
55
118
16
Seller's
FL
Coastal Pinellas County
$1,489,875
$1,000,000
62
22
40
8
Seller's
FL
Greater Fort Lauderdale
$940,000
$760,000
537
109
173
35
Seller's
FL
Jacksonville Beaches
$1,197,500
$835,000
20
6
12
49
Seller's
FL
Lee County
$967,489
$770,000
71
29
91
9
Seller's
FL
Marco Island
$4,345,000
$1,450,000
4
2
18
32
Seller's
FL
Miami
$1,509,000
$1,295,000
1,162
217
213
85
Balanced
FL
Naples
$2,250,000
$1,800,000
117
62
80
11
Seller's
FL
Orlando
$775,000
$545,000
65
23
26
22
Seller's
FL
Palm Beach Towns
$1,749,000
$1,772,500
95
25
40
15
Seller's
FL
Sarasota & Beaches
$2,440,800
$1,399,000
64
26
47
9
Seller's
FL
South Pinellas County
$1,478,000
$927,500
78
29
62
7
Seller's
FL
South Walton
$1,289,360
$1,225,000
120
7
19
35
Balanced
FL
Tampa
$1,200,000
$615,000
40
12
49
12
Seller's
FL
Weston
-
-
-
-
-
-
-
GA
Atlanta
$750,000
$599,938
311
72
190
24
Seller's
GA
Duluth
-
-
-
-
-
-
-
HI
Island of Hawaii
$2,200,000
$1,461,560
29
7
20
11
Seller's
HI
Kauai
$1,350,000
$1,420,516
31
5
22
26
Seller's
HI
Maui
$2,337,500
$2,325,000
48
26
34
68
Seller's
HI
Oahu
$1,299,000
$935,000
327
85
120
15
Seller's
ID
Northern
-
-
-
-
-
-
-
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
IL
Chicago
$1,287,500
$945,000
490
42
162
82
Seller's
IL
DuPage County
$849,450
$624,500
18
1
12
54
Seller's
IL
Lake County
-
-
-
-
-
-
-
IL
Will County
-
-
-
-
-
-
-
IN
Hamilton County
-
-
-
-
-
-
-
KS
Johnson County
$615,000
$605,867
56
8
26
8
Seller's
MA
Greater Boston
$2,595,000
$2,099,000
173
25
83
22
Seller's
MD
Anne Arundel County
$557,990
$570,000
35
22
49
6
Seller's
MD
Frederick County
-
-
-
-
-
-
-
MD
Howard County
$694,988
$565,000
10
7
19
8
Seller's
MD
Montgomery County
$784,874
$690,000
54
23
75
21
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$749,900
$639,900
55
12
31
36
Seller's
MI
Livingston County
-
-
-
-
-
-
-
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$845,000
$626,450
41
17
32
6
Seller's
MI
Washtenaw County
$650,000
$615,000
32
3
7
39
Seller's
MI
Wayne County
$659,965
$607,500
70
7
8
24
Buyer's
MN
Olmsted County
-
-
-
-
-
-
-
MN
Twin Cities
-
-
-
-
-
-
-
MO
Kansas City
-
-
-
-
-
-
-
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$817,780
$621,796
102
17
63
10
Seller's
NC
Lake Norman
$539,900
$627,500
5
0
4
23
Seller's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$729,000
$697,500
17
4
12
13
Seller's
NV
Lake Tahoe
$2,550,000
$1,372,500
5
1
8
38
Seller's
NV
Las Vegas
-
-
-
-
-
-
-
NV
Reno
-
-
-
-
-
-
-
NY
Brooklyn
$1,480,000
$1,225,000
401
73
77
66
Balanced
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
$1,669,000
$1,087,500
71
9
16
93
Seller's
NY
Staten Island
$599,999
$600,000
38
9
39
35
Seller's
NY
Suffolk County
$749,000
$598,000
67
18
50
27
Seller's
OH
Cincinnati
$758,090
$580,000
30
1
2
60
Buyer's
OH
Cleveland Suburbs
-
-
-
-
-
-
-
ON
GTA - Durham
$1,275,450
$825,000
4
6
35
6
Seller's
ON
GTA - York
$868,950
$755,000
36
60
113
8
Seller's
ON
Oakville
$3,040,000
$1,350,000
14
19
23
5
Seller's
ON
Toronto
$1,299,500
$1,110,001
346
194
228
18
Seller's
ON
Waterloo Region
$949,900
$815,000
1
11
61
7
Seller's
OR
Portland
-
-
-
-
-
-
-
SC
Charleston
$1,222,000
$839,900
59
16
43
27
Seller's
TN
Nashville
$985,000
$672,500
31
9
46
17
Seller's
TX
Austin
$1,032,000
$784,500
66
31
92
15
Seller's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$937,500
$718,000
94
25
55
23
Seller's
TX
Denton County
-
-
-
-
-
-
-
TX
Fort Worth
-
-
-
-
-
-
-
TX
Houston
$639,950
$635,000
111
32
43
24
Seller's
TX
San Angelo
-
-
-
-
-
-
-
TX
San Antonio
$737,500
$642,000
28
10
7
76
Seller's
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$2,695,000
$1,850,000
17
11
45
3
Seller's
VA
Arlington & Alexandria
$1,149,000
$960,000
51
20
62
10
Seller's
VA
Charlottesville
$949,950
$609,250
18
5
14
4
Seller's
VA
Fairfax County
$783,490
$699,990
76
33
141
8
Seller's
VA
McLean & Vienna
$1,332,000
$930,000
21
7
17
24
Seller's
VA
Richmond
-
-
-
-
-
-
-
WA
Greater Seattle
$1,497,475
$1,050,000
84
18
87
7
Seller's
WA
Seattle
$1,773,975
$1,239,000
62
10
21
8
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 December 2021. As we close out the year of 2021, one word comes to mind to describe the luxury real estate market in Hawaii: “phenomenal”! The growth of this sector of the market has truly been astonishing to witness during the last year, especially for the attached market. While 2020 had seen a significant increase in demand for single family homes, the attached property market saw little activity as the affluent shied away from densely located properties. When travel restrictions for entering Hawaii were lifted on October 15, 2020, the single family property market exploded. Trends show that the next 15 months consisted of high demand, a record breaking number of sales, and declining inventory levels - all of which resulted in ever increasing price points. At the end of 2021, in comparison to 2020, the median luxury single family sold price increased by 7.8%; after an already strong year in 2020. The luxury attached property market started to rebound as more people were vaccinated and the vacation season arrived. Trends show that as of April 2021 the number of properties purchased grew steadily and, compared to their corresponding months in 2020, sales were 200% higher on average. In a similar trend to the single family market, as demand increased for attached homes, inventory levels dropped. In turn, this drove prices up each month. At the end of 2021, compared to the median sold price in April 2021, prices have increased by 13.4%. Overall, the Hawaiian luxury market has gradually started to slow and there has been a gradual return to a more typical seasonal variation over the last few months. Expectations for 2022 anticipate that seasonal trends will continue, with the spring market seeing more properties enter into the market. Second home purchases by the affluent are forecast to be in vogue for 2022, which, together with the return of the tourist, will drive the luxury real estate market. Hawaii offers the perfect fit for the wealthy’s changing priorities, which have moved away from just a vacation property to becoming either their permanent residence or a second primary residence. As always, a real estate expert familiar with local trends is the best resource to navigate a specific market.
January
2022
Kauai Hawaii
KAUAI
Single-Family Homes
Luxury Inventory vs. Sales | December 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
19
1 0 0
1
1
Seller's Market
3
1 2
$2,600,000 - $2,999,999
3 5 5
$2,200,000 - $2,599,999 2
$1,800,000 - $2,199,999 $1,600,000 - $1,799,999
$1,300,000 - $1,399,999 $1,200,000 - $1,299,999
1
39%
3 3
$3,000,000 - $3,399,999
$1,400,000 - $1,499,999
Total Sales Ratio2:
7
1
$3,400,000 - $3,899,999
$1,500,000 - $1,599,999
57
Total Sales: 22 2
0
$3,900,000 - $4,399,999
Total Inventory:
4
6
2 3
0 0 0
1 1
1
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
2
0%
2 Bedrooms
$2,525,000
126
2
4
2
200%
3 Bedrooms
$2,225,000
19
3
10
23
43%
4 Bedrooms
$2,500,000
48
4
5
19
26%
5 Bedrooms
$1,991,000
43
4
3
6
50%
6+ Bedrooms
NA
NA
NA
0
5
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
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
$2,187,500
$2,375,000
$2,154,750 $1,899,500
101
91
14
Dec-20
89
84
20
14
Jan-21
$1,839,500
Feb-21
$1,862,500
85
22
Mar-21
Inventory
$2,212,500
$1,935,000
Apr-21
$2,312,500
$2,030,000
$1,875,000
$1,683,250
73
18
Solds
56 24
May-21
57
55 30
20
Jun-21
Jul-21
48
Aug-21
48 14
Sep-21
57
47
24
16
$1,789,000
Oct-21
19
22
Nov-21
Dec-21
Median Data Review | December Total Inventory Dec. 2020
Total Solds
Dec. 2021
91
57 VARIANCE: -37 % Sale Price Per SqFt. Dec. 2020
$
818 VARIANCE: 3 % $
Dec. 2021
14
22 VARIANCE: 57 %
Dec. 2020
$
2.19m
Dec. 2020
Dec. 2021
$
Days on Market Dec. 2020
96.18%
96.89% VARIANCE: 1 %
48
Dec. 2021
44 VARIANCE: -8 %
Kauai Market Summary | December 2021 • The Kauai single-family luxury market is a Seller's Market with a 39% Sales Ratio. • Homes sold for a median of 96.89% of list price in December 2021.
• The most active price band is $1,800,000-$2,199,999, where the sales ratio is 200%. • The median luxury sales price for single-family homes is $2,312,500.
• The median days on market for December 2021 was 44 days, down from 48 in December 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
Dec. 2021
2.31m VARIANCE: 6 %
Sale to List Price Ratio
Dec. 2021
794
Dec. 2020
Sales Price
KAUAI
Attached Homes
KAUAI
Luxury Inventory vs. Sales | December 2021 Inventory
Attached Homes
Sales
Luxury Benchmark Price 1: $950,000 $5,000,000+ $4,500,000 - $4,999,999 $4,000,000 - $4,499,999
0 0 0
$3,600,000 - $3,999,999
0
$3,200,000 - $3,599,999
0
1 1
1
Seller's Market
3
2
0 0 3
2 0 0 2
$1,600,000 - $1,799,999
3
$1,400,000 - $1,599,999
4
3
$1,200,000 - $1,399,999
8
3
$1,100,000 - $1,199,999
1
71%
Total Sales Ratio2:
1
$2,100,000 - $2,399,999
$1,800,000 - $2,099,999
31
Total Sales: 22 2
$2,800,000 - $3,199,999 $2,400,000 - $2,799,999
Total Inventory:
4
2
$1,000,000 - $1,099,999
2 2
$950,000 - $999,999
2 2
Beds3
Price
DOM
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0-1 Bedrooms
$1,015,250
17
2
2
2
100%
2 Bedrooms
$1,325,000
19
3
6
18
33%
3 Bedrooms
$1,838,016
26
3
8
5
160%
4 Bedrooms
$1,725,000
76
4
3
5
60%
5 Bedrooms
$2,550,000
91
5
2
1
200%
6+ Bedrooms
$3,400,000
195
6
1
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 $1,395,000
$1,299,000
67
$1,150,000
59
6
Dec-20
55
55
Jan-21
44
13
14
Feb-21
Mar-21
11
$1,199,000
$1,189,125
$1,282,500
39 13
Apr-21
28
20
May-21
$1,495,000
$1,350,000
$1,255,000
41
35
25
$1,375,000
Jun-21
20
Jul-21
40
28 13
15
Aug-21
Sep-21
$1,420,516
$1,375,000
34
31
19
15
Oct-21
Nov-21
22
Dec-21
Median Data Review | December Total Inventory Dec. 2020
Dec. 2021
Dec. 2020
Dec. 2021
67
31 VARIANCE: -54 %
22 VARIANCE: 267 %
Sale Price Per SqFt.
Sale to List Price Ratio
Dec. 2020
$
Total Solds
Dec. 2021
986
930 VARIANCE: -6 % $
6
Dec. 2020
Dec. 2021
96.49%
99.10% VARIANCE: 3 %
Sales Price Dec. 2020
$
1.57m
1.42m VARIANCE: -9 % $
Days on Market Dec. 2020
40
Dec. 2021
26 VARIANCE: -35 %
Kauai Market Summary | December 2021 • The Kauai attached luxury market is a Seller's Market with a 71% Sales Ratio. • Homes sold for a median of 99.10% of list price in December 2021.
• The most active price band is $1,600,000-$1,799,999, where the sales ratio is 150%. • The median luxury sales price for attached homes is $1,420,516.
• The median days on market for December 2021 was 26 days, down from 40 in December 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
Dec. 2021
January
2022
Oahu Hawaii
OAHU
Single-Family Homes
Luxury Inventory vs. Sales | December 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,750,000 $9,500,000+
1 1
$8,500,000 - $9,499,999 $7,500,000 - $8,499,999 $6,500,000 - $7,499,999
$5,500,000 - $6,499,999
27
0
Total Inventory: 5
0
Seller's Market
12
4
7
1
$3,500,000 - $4,099,999
$3,100,000 - $3,499,999
12
8 9
2
$2,700,000 - $3,099,999
20
9
$2,100,000 - $2,299,999
4
$1,900,000 - $2,099,999
5 10
5 5
$1,800,000 - $1,899,999
1
15
9
$2,300,000 - $2,699,999
$1,750,000 - $1,799,999
Total Sales Ratio2: 34%
10
0
$4,700,000 - $5,499,999 $4,100,000 - $4,699,999
Total Sales: 51
3
0
150
6
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
$2,300,000
3
3
21
41
51%
3,000 - 3,999
$2,624,500
4
4
16
23
70%
4,000 - 4,999
$2,907,500
5
4
6
26
23%
5,000 - 5,999
$4,200,000
4
4
7
14
50%
6,000 - 6,999
NA
NA
NA
0
11
0%
7,000+
$2,050,000
6
6
1
35
3%
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
$2,200,000
208
$2,650,000
$2,365,000
$2,250,000
174
50
Dec-20
172
49
Feb-21
Mar-21
$2,527,500
$2,270,000
169
168
40
29 Jan-21
170
$2,430,000
Inventory
49
Apr-21
67
May-21
$2,340,000
178
150 60
$2,552,500
Solds
174
Jun-21
Jul-21
174
59
Aug-21
Sep-21
$2,690,000
$2,557,500
159
66
56
$2,505,000
$2,425,000
159 66
Oct-21
150 58
51
Nov-21
Dec-21
Median Data Review | December Total Inventory Dec. 2020
Total Solds
Dec. 2021
208
150 VARIANCE: -28 % Sale Price Per SqFt.
Dec. 2020
$
830 VARIANCE: 29 % $
Dec. 2021
50
51 VARIANCE: 2 %
Dec. 2020
$
2.20m
Dec. 2020
Dec. 2021
$
Days on Market Dec. 2020
96.94%
100.00% VARIANCE: 3 %
50
Dec. 2021
17 VARIANCE: -66 %
Oahu Market Summary | December 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 December 2021.
• The most active price band is $1,800,000-$1,899,999, where the sales ratio is 120%. • The median luxury sales price for single-family homes is $2,690,000.
• The median days on market for December 2021 was 17 days, down from 50 in December 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
Dec. 2021
2.69m VARIANCE: 22 %
Sale to List Price Ratio
Dec. 2021
641
Dec. 2020
Sales Price
OAHU
Attached Homes
Luxury Inventory vs. Sales | December 2021 Inventory
Sales
Luxury Benchmark Price 1: $750,000 $7,000,000+ $6,000,000 - $6,999,999 $5,200,000 - $5,999,999
2
0 0
$4,400,000 - $5,199,999
1
Seller's Market
9
Total Sales Ratio2: 37%
13
1 8
0
13
3
$2,200,000 - $2,599,999
23
4
34
2
$1,500,000 - $1,799,999
33
9
$1,200,000 - $1,499,999
42
9
$1,000,000 - $1,199,999
35
16
$900,000 - $999,999
32
22
$800,000 - $899,999
39
27
$750,000 - $799,999
1
327
Total Sales: 120
$2,600,000 - $3,199,999
$1,800,000 - $2,199,999
Total Inventory:
1
$3,800,000 - $4,399,999 $3,200,000 - $3,799,999
6
3
37
23
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$875,000
1
2
35
133
26%
1,000 - 1,499
$995,000
2
2
45
85
53%
1,500 - 1,999
$915,500
3
2
26
52
50%
2,000 - 2,499
$825,000
3
3
3
28
11%
2,500 - 2,999
$1,700,000
3
3
3
11
27%
3,000+
$3,625,000
3
4
8
18
44%
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
$890,000
394
$903,500
$875,000
360
345
55 Dec-20
338
$949,000
324
76
87
Feb-21
Mar-21
44
Jan-21
$970,000
$981,500
Apr-21
$960,000
Solds
$955,000 $875,000
301
83
Inventory
121
88
May-21
Jun-21
125
Jul-21
146
Aug-21
351
116
101
Sep-21
$935,000
$900,000
355
329
283
278
273
$947,000
$910,000
327
120
105
Oct-21
Nov-21
Dec-21
Median Data Review | December Total Inventory Dec. 2020
Total Solds
Dec. 2021
394
Dec. 2021
327 VARIANCE: -17 %
120 VARIANCE: 118 %
Sale Price Per SqFt.
Sale to List Price Ratio
Dec. 2020
$
Dec. 2020
Dec. 2021
713
879 VARIANCE: 23 % $
55
Dec. 2020
Dec. 2021
Sales Price Dec. 2020
890k
$
935k VARIANCE: 5 % $
Days on Market Dec. 2020
98.71%
100.00% VARIANCE: 1 %
32
Dec. 2021
15 VARIANCE: -53 %
Oahu Market Summary | December 2021 • The Oahu attached luxury market is a Seller's Market with a 37% Sales Ratio. • Homes sold for a median of 100.00% of list price in December 2021.
• The most active price band is $800,000-$899,999, where the sales ratio is 69%. • The median luxury sales price for attached homes is $935,000.
• The median days on market for December 2021 was 15 days, down from 32 in December 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
Dec. 2021
January
2022
Maui Hawaii
MAUI
Single-Family Homes
Luxury Inventory vs. Sales | December 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,500,000 $12,000,000+ $9,900,000 - $11,999,999
6
0
$7,900,000 - $9,899,999
5
1
$5,900,000 - $7,899,999
14
2
$4,900,000 - $5,899,999 $3,900,000 - $4,899,999
10
1
8
1
11
0
$3,400,000 - $3,899,999
4
1
$2,900,000 - $3,399,999
$2,400,000 - $2,899,999
7
1
0
4
$1,800,000 - $1,999,999
$1,700,000 - $1,799,999
1
10
4 1
Total Inventory:
2
106
Total Sales: 30
3
$1,600,000 - $1,699,999 $1,500,000 - $1,599,999
13
4
$2,200,000 - $2,399,999 $2,000,000 - $2,199,999
7
3
5
Seller's Market
7
1
Total Sales Ratio2:
28%
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$2,015,000
2
2
7
33
21%
2,000 - 2,999
$1,722,808
3
3
11
25
44%
3,000 - 3,999
$2,175,000
4
3
5
24
21%
4,000 - 4,999
$2,550,000
4
6
3
12
25%
5,000 - 5,999
$6,900,000
5
6
3
4
75%
6,000+
$17,500,000
6
9
1
8
13%
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
$2,600,000
$2,412,500
155
129
26
Dec-20
125
116
29
35
Feb-21
Mar-21
24 Jan-21
116
$2,495,000
$2,680,000
Apr-21
$2,575,000
$2,332,500
112
May-21
103 40
39
34
$2,775,000
$2,198,000
118
103
43
$2,874,500
Jun-21
Jul-21
$2,420,000
104
102 30
32
Aug-21
Sep-21
$2,162,500
106
92 49
Oct-21
27
30
Nov-21
Dec-21
Median Data Review | December Total Inventory Dec. 2020
Total Solds
Dec. 2021
155
106 VARIANCE: -32 % Sale Price Per SqFt.
Dec. 2020
$
868 VARIANCE: 3 % $
Dec. 2021
26
30 VARIANCE: 15 %
Dec. 2020
$
2.78m
Dec. 2020
Dec. 2021
$
Days on Market Dec. 2020
97.16%
100.00% VARIANCE: 3 %
74
Dec. 2021
82 VARIANCE: 11 %
Maui Market Summary | December 2021 • The Maui single-family luxury market is a Seller's Market with a 28% Sales Ratio. • Homes sold for a median of 100.00% of list price in December 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 $2,162,500.
• The median days on market for December 2021 was 82 days, up from 74 in December 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
Dec. 2021
2.16m VARIANCE: -22 %
Sale to List Price Ratio
Dec. 2021
840
Dec. 2020
Sales Price
MAUI
Attached Homes
Luxury Inventory vs. Sales | December 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,200,000 $4,500,000+ $3,600,000 - $4,499,999
3
$3,100,000 - $3,599,999
1
1
$1,700,000 - $1,799,999
0
$1,400,000 - $1,499,999 $1,300,000 - $1,399,999 $1,200,000 - $1,299,999
1
Seller's Market Total Sales Ratio2: 5
71%
3
1
0
3 3
0 1
$1,600,000 - $1,699,999 $1,500,000 - $1,599,999
48
Total Sales: 34
3
$2,200,000 - $2,399,999
$1,800,000 - $1,899,999
Total Inventory:
2
$2,400,000 - $2,599,999
$1,900,000 - $1,999,999
4
3
1
$2,600,000 - $3,099,999
$2,000,000 - $2,199,999
13
5
2
5
2 1
4 3
1 1
2
7
2
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,632,500
2
2
6
11
55%
1,000 - 1,499
$1,587,500
2
2
10
13
77%
1,500 - 1,999
$2,574,000
3
3
12
3
400%
2,000 - 2,499
$3,795,000
3
4
3
9
33%
2,500 - 2,999
$7,425,000
3
4
1
11
9%
3,000+
$14,647,500
4
5
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.
MAUI
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
Solds
$2,325,000
$2,249,000 $2,025,000 $1,800,000
$1,700,000
$1,500,000
$1,700,000
$1,746,250
$1,648,000
$1,500,000
$1,769,000
$2,000,000
$1,927,000
164 109
104
69 37
Dec-20
Jan-21
58
25
15
Feb-21
Mar-21
62
52
Apr-21
48
50
38
May-21
42
37
Jun-21
47
Jul-21
25
36
Aug-21
27
40
31
Sep-21
34
31
Oct-21
48
34
Nov-21
34
Dec-21
Median Data Review | December Total Inventory Dec. 2020
Total Solds
Dec. 2021
164
48 VARIANCE: -71 %
$
952
34 VARIANCE: -8 %
Dec. 2020
$
1.50m
1,630 VARIANCE: 71 %
Dec. 2020
Dec. 2021
100.00% 100.00% VARIANCE: 0 %
$
Days on Market Dec. 2020
119
Dec. 2021
68 VARIANCE: -43 %
Maui Market Summary | December 2021 • The Maui attached luxury market is a Seller's Market with a 71% Sales Ratio. • Homes sold for a median of 100.00% of list price in December 2021.
• The most active price band is $1,500,000-$1,599,999, where the sales ratio is 400%. • The median luxury sales price for attached homes is $2,325,000.
• The median days on market for December 2021 was 68 days, down from 119 in December 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
Dec. 2021
2.33m VARIANCE: 55 %
Sale to List Price Ratio
Dec. 2021
$
Dec. 2021
37
Sale Price Per SqFt. Dec. 2020
Dec. 2020
Sales Price
January
2022
Island of Hawaii
ISLAND OF HAWAII
Single-Family Homes
Luxury Inventory vs. Sales | December 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,100,000 $9,000,000+ $7,800,000 - $8,999,999
0
$6,800,000 - $7,799,999
1
Total Inventory:
Total Sales Ratio2:
0
$4,200,000 - $4,999,999
Seller's Market
2
1
3
1
7
2 4 4
$2,800,000 - $3,399,999 2
$2,400,000 - $2,799,999 $2,000,000 - $2,399,999
3 7
1
$1,700,000 - $1,999,999
7
2 5 5
$1,400,000 - $1,699,999 0
5 4
$1,200,000 - $1,299,999 3
$1,100,000 - $1,199,999
1
69%
2
$3,400,000 - $4,199,999
$1,300,000 - $1,399,999
59
Total Sales: 41
3
1
$5,800,000 - $6,799,999
$5,000,000 - $5,799,999
11
3
6 5
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,650,000
3
3
15
23
65%
3,000 - 3,999
$2,740,000
4
4
7
9
78%
4,000 - 4,999
$3,012,500
5
6
4
3
133%
5,000 - 5,999
$8,850,000
5
6
4
6
67%
6,000 - 6,999
NA
NA
NA
0
2
0%
7,000+
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.
ISLAND OF HAWAII
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$2,400,000 $2,137,500
$1,632,500
$1,595,000
120
107
28
Dec-20
$2,225,000
$2,001,500
93
Jan-21
$1,800,000
$1,760,000
77
72
67
36
43
Feb-21
Mar-21
31
$1,990,000
42
Apr-21
63 40
$1,630,000
57 27
May-21
$1,775,000
Jun-21
Jul-21
64
60
53 27
28
Aug-21
Sep-21
24
$1,650,000
$1,502,500
64
24
59
24
Oct-21
Nov-21
41
Dec-21
Median Data Review | December Total Inventory Dec. 2020
Dec. 2021
120
59 VARIANCE: -51 % Sale Price Per SqFt.
Dec. 2020
$
Dec. 2021
714
867 VARIANCE: 21 % $
Total Solds Dec. 2020
Dec. 2021
28
41 VARIANCE: 46 %
Sales Price Dec. 2020
$
2.14m
1.65m VARIANCE: -23 %
Sale to List Price Ratio Dec. 2020
Dec. 2021
96.28%
100.00% VARIANCE: 4 %
Dec. 2021
$
Days on Market Dec. 2020
Dec. 2021
26
26 VARIANCE: 0 %
Island of Hawaii Market Summary | December 2021 • The Island of Hawaii single-family luxury market is a Seller's Market with a 69% Sales Ratio. • Homes sold for a median of 100.00% of list price in December 2021.
• The most active price band is $1,100,000-$1,199,999, where the sales ratio is 167%. • The median luxury sales price for single-family homes is $1,650,000.
• The median days on market for December 2021 was 26 days, remaining the same from December 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
ISLAND OF HAWAII
Attached Homes
Luxury Inventory vs. Sales | December 2021 Inventory
Sales
Luxury Benchmark Price 1: $950,000 $4,500,000+ $4,000,000 - $4,499,999
2
1 1
0
$3,500,000 - $3,999,999 $3,100,000 - $3,499,999
Total Inventory: 29
0 0
$2,700,000 - $3,099,999
4
0
4
1 0
3
$1,300,000 - $1,399,999 0
3 1
2
1 1
$1,000,000 - $1,099,999
1
4
3
$1,100,000 - $1,199,999
$950,000 - $999,999
Total Sales Ratio2: 69%
2 2
$1,600,000 - $1,799,999
$1,200,000 - $1,299,999
Seller's Market
3
1
$2,100,000 - $2,399,999
$1,400,000 - $1,599,999
Total Sales: 20
2
1
$2,400,000 - $2,699,999
$1,800,000 - $2,099,999
5
2
0 0
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
2
0%
1,000 - 1,499
$1,727,500
2
3
2
5
40%
1,500 - 1,999
$1,849,060
3
3
6
6
100%
2,000 - 2,499
$1,425,000
3
4
3
5
60%
2,500 - 2,999
$1,240,000
3
4
3
4
75%
3,000+
$3,020,000
4
4
1
6
17%
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
$2,222,500
$1,625,000
$1,500,000
$1,420,000
$1,427,500
$1,425,000
$1,625,000
$1,595,000 $1,400,000
$1,340,000
$1,300,000
$1,461,560 $1,180,000
64 41 25
Dec-20
26
24
Jan-21
22
Feb-21
22
28
Mar-21
26
31
Apr-21
29
24
17
May-21
28
17
Jun-21
35 23
Jul-21
34
32
16
18
Aug-21
Sep-21
32
29
Oct-21
29
17
20
Nov-21
Dec-21
Median Data Review | December Total Inventory Dec. 2020
Dec. 2021
64
Dec. 2020
Dec. 2021
29 VARIANCE: -55 %
20 VARIANCE: -20 %
Sale Price Per SqFt.
Sale to List Price Ratio
Dec. 2020
$
Total Solds
Dec. 2021
578
769 VARIANCE: 33 % $
25
Dec. 2020
Dec. 2021
98.08%
100.00% VARIANCE: 2 %
Sales Price Dec. 2020
$
1.50m
1.46m VARIANCE: -3 % $
Days on Market Dec. 2020
51
Dec. 2021
11 VARIANCE: -78 %
Island of Hawaii Market Summary | December 2021 • The Island of Hawaii attached luxury market is a Seller's Market with a 69% Sales Ratio. • Homes sold for a median of 100.00% of list price in December 2021.
• The most active price band is $1,100,000-$1,199,999, where the sales ratio is 200%. • The median luxury sales price for attached homes is $1,461,560.
• The median days on market for December 2021 was 11 days, down from 51 in December 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
Dec. 2021
KAUAI
|
OAHU
|
MAUI
|
HAWAII ISLAND
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