KAUAI
|
OAHU
|
MAUI
|
HAWAII ISLAND
Luxury Market Report Hawaii, March 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
North Shore Office 66-590 Kamehameha Hwy, Unit 1 Haleiwa, HI 96712 (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 Examining the Demand for Luxury Real Estate Over the last 18 months, the status of the real estate market, in particular the luxury sector, has been a hot topic across all news outlets, multi-media platforms, and within the industry itself. Conversations have mainly focused on the variety of trends, with reviews covering a multitude of topics from rising prices, falling inventory levels and increases in demand to multi-faceted relocations and migrations and the growing concern about delays surrounding new builds from builders and developers. There has been, however, one constant agreement throughout — ‘the home’ has officially become one of, if not, the most important factor in today’s decision processes with respect to how individuals choose their way of life. For the affluent, the question of where to live, what type of property, the features, and amenities that will meet their practical needs and ‘must-have’ requirements all combine in their search for homes that offer security, as well an enhancement in the quality of today’s live, work, and play environments. Many would say that these parameters are not so very different from those that have always been the top search criteria of the wealthy. While this is true for the most part, it is the actual sheer amount and continued increases in sales volume, diversity of locations and prices that have created some of the most exceptional circumstances in the current luxury market. We, therefore, seek to investigate what has driven this enormous demand for luxury real estate —are these factors still in play and how will this play out in the upcoming spring market and beyond? It has been widely recognized that the pandemic drove people, especially the affluent, to change their expectations and aspirations for their goals for homeownership and attitudes towards their lifestyle requirements. It now
seems that there are two other factors that, not only played a significant part, but will probably have a longer lasting effect on the demand for luxury real estate. Recently Wealth-X shared the staggering percentage growth of global wealth in 2021 and, more significantly, the number of individuals who are now classified as high net worth (HNW) - those with over $5 million in net worth. Wealth-X's researched the growth of wealth globally during 2021 and while their results led to an expected annual percentage increase, of more significance was the rate that it had increased. This nearly unbelievable increase had been unpredictable, even as little as three months prior to the end of 2021, until Wealth-X finally assimilated the data in January 2022. For the most part, the growth of wealth has steadily risen over the last 10 years, but the results were truly unprecedented for 2021. The volume of wealth increased by 2.1% in 2020 compared to 2019, but in 2021, it grew a staggering 20.4% compared to 2020. As an extension of this analysis, the source of this growth was analyzed. The consensus was that many of the key reasons included rebounding stock markets, new industries, businesses quick to change their distribution networks and increasing home equity. However, while these factors were all contributors to the overall growth of wealth, it was the rising number of individuals, with their increased wealth, that had the greatest impact on the increasing volume of luxury property sales during the last 12 months. The global population of individuals with a net worth of $5 million+ reached more than 3.6 million globally in 2021. That was an increase of 19.8% over 2020 and a notable difference from 2020, which saw only a 2.2% gain over 2019. This extraordinary wealthy population growth led to an equally extraordinary real estate expansion in the luxury market; including opening up a new map of luxury locations as well as greater numbers of multiple homeownership. In January 2022, the National Association of Realtors (NAR) reported that the market share of luxury properties sales had doubled over the last 12 months.
The importance of the number of individuals joining the ranks of the HNW category cannot be overstated. Wealth itself may increase the demand for more expensive properties and even shift trends within the luxury home market, but alone it would not have created the staggering spending potential that a near 20% growth in the number of HNW individuals has achieved. As the number of wealthy increased over the last 18 months, coupled with the new lifestyle choice of ‘home’ being one of the most crucial requirements in an affluent’s portfolio, the exponential increase in demand for luxury real estate instantly becomes clearer. According to Wealth-X, HNW homeownership between 2019 and 2021 increased 180.1% for homes valued at $1 – 5 million and 102.4% for homes valued above $5 million. In the U.S., ownership of a luxury property above $1 million is now at 85% for HNW individuals, but even more enlightening is their propensity for multiple homeownerships; with 70% of HNW owning at least two properties, and 46% of them owning three or more. Internationally, during 2021 the ratio for primary versus secondary home purchases could have been as high as 2:4 — where, for every two primary homes there were approximately four secondary homes purchased.
This new wealth factor has proven to be life-changing for the many individuals entering the HNW category during 2022. They can now afford homes that are more luxurious and/or living between multiple properties. However, of greater significance is that both these home purchase trends are expected to become long-term influences. While extreme situations, events, and circumstances — such as the pandemic — will often create equally extreme results in the short to mid-term, it must be recognized that the growth or decline of the HNW population and by extension their wealth will be the actual long term determinator of demand in the luxury real estate market. According to Wealth-X, the global population of HNW individuals, as well as wealth itself, is predicated to continue rising throughout the world’s most influential cities over the next five years. It should also be noted that trends over the previous five years show that despite localized or international influences that both the affluent, their wealth and by extension the luxury real estate market have remained resilient, bouncing back, or even making extraordinary gains despite their prior predicament. 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.
Days on Market
40
38
36
20
20
21
11
13
14
16
15
15
12
10 12
MAY
JUN
JUL
11 11
15
18
17 14
14 12
16
16
13
11 11
0 FEB
MAR
APR
AUG
SEP
OCT
NOV
DEC
JAN
FEB
$525
$412
$422
NOV
$509
$532
$390
OCT
$415
$498
$399
$491
$504 $395
$482
$373
$391
$478
$518 $382
$493 $374
$460
$503 $383
$300
$376
$400
$473
$500
$386
Price per Square Foot
$600
DEC
JAN
FEB
$200
$100
$0 FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
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 FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
Discrepancies in previous month statistics between the February 2022 and March 2022 reports are due to the addition of Cape Cod, MA; South Shore, MA; Asheville, NC; and Greater Tyler, TX.
Luxury Monthly Market Review A Review of Key Market Differences Year over Year February 2021 | February 2022
Single-Family Homes February 2021
Median List Price
Median Sale Price Total Sales Ratio
$1,750,000
$1,849,500
98.30%
100.00%
$1,365,000
Median SP/LP Ratio Median Price per Sq. Ft.
February 2022
38.52% $386
$1,306,086
66.42% $422
February 2021
February 2022
Total Inventory
26,033
20,312
Total Sold
10,027
13,491
3,689
3,238
New Listings
7,999
Median Days on Market Average Home Size
38
8,988 11
Median prices represent properties priced above respective city benchmark prices.
989
3,464
New Listings
Total Sold
27
27.90%
Med. Sale Price
Days on Market
Sales Ratio
58,914
$
Single-Family Homes Market Summary | February 2022 •
Official Market Type: Seller's Market with a 66.42% Sales Ratio.1
•
Homes are selling for an average of 100.00% of list price.
•
The median luxury threshold2 price is $912,500, and the median luxury home sales price is $1,306,086.
•
Markets with the Highest Median Sales Price: Vail ($6,175,000), Telluride ($4,450,000), Palm Beach Towns ($4,300,000), and Los Angeles City ($3,977,500).
•
Markets with the Highest Sales Ratio: Waterloo Region (1494%), GTA-Durham (499%), East Bay (329%) and Denton County (199%). 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 February 2021 | February 2022
Attached Homes February 2021
Median List Price
Median Sale Price Total Sales Ratio
$989,225
$1,198,000
98.94%
100.00%
$881,000
Median SP/LP Ratio Median Price per Sq. Ft.
February 2022
29.06% $473
$898,750 66.13% $525
February 2021
Total Inventory New Listings
February 2022
12,579
8,129
3,656
5,376
3,632
Total Sold
Median Days on Market Average Home Size
36
2,024
3,819 11
1,886
Median prices represent properties priced above respective city benchmark prices.
187
New Listings
1,720 Total Sold
Med. Sale Price
Days on Market
17,750
$
26
37.07% Sales Ratio
Attached Homes Market Summary | February 2022 •
Official Market Type: Seller's Market with a 66.13% 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 $898,750.
•
Markets with the Highest Median Sales Price: Vail ($2,950,000), San Francisco ($2,600,000), Greater Boston ($2,295,000), and Marco Island ($2,050,000).
•
Markets with the Highest Sales Ratio: GTA-Durham (3600%), Waterloo Region (1633%), Mississauga (486%) and GTA-York (393%). 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
$1,249,500
$931,750
362
392
362
8
Seller's
AZ
Paradise Valley
$7,270,000
$3,695,000
68
20
41
46
Seller's
AZ
Phoenix
$895,000
$773,000
202
124
379
25
Seller's
AZ
Scottsdale
$3,029,720
$1,675,000
218
97
215
26
Seller's
AZ
Tucson
$850,000
$652,500
335
116
281
7
Seller's
BC
Mid Vancouver Island
$1,649,950
$1,472,500
166
77
6
22
Buyer's
BC
Okanagan Valley
$1,950,000
$1,500,000
344
188
126
20
Seller's
BC
Vancouver
$4,580,000
$3,200,000
902
360
195
9
Seller's
BC
Victoria
$2,200,000
$2,218,500
80
52
26
6
Seller's
CA
Central Coast
$3,850,000
$2,500,000
91
50
67
10
Seller's
CA
East Bay
$2,374,000
$2,015,000
102
111
336
7
Seller's
CA
Greater Palm Springs
$2,749,000
$1,772,500
117
61
132
22
Seller's
CA
Lake Tahoe
$3,145,000
$2,103,000
57
22
38
14
Seller's
CA
Los Angeles Beach Cities
$6,995,000
$3,962,000
198
80
84
11
Seller's
CA
Los Angeles City
$5,965,000
$3,977,500
454
167
130
17
Seller's
CA
Los Angeles The Valley
$2,900,000
$2,005,000
200
95
138
10
Seller's
CA
Marin County
$3,262,500
$2,925,000
36
15
28
9
Seller's
CA
Napa County
$4,200,000
$1,975,000
73
22
13
72
Balanced
CA
Orange County
$3,398,000
$2,282,500
437
235
354
7
Seller's
CA
Placer County
$1,295,000
$1,050,000
129
39
47
5
Seller's
CA
Sacramento
$949,750
$879,500
294
83
168
6
Seller's
CA
San Diego
$2,995,000
$1,900,000
404
228
350
7
Seller's
CA
San Francisco
$4,900,000
$3,219,600
67
21
46
11
Seller's
CA
San Luis Obispo County
$2,200,000
$1,400,000
74
24
51
N/A
Seller's
CA
Santa Barbara
$6,495,000
$3,425,000
61
27
56
13
Seller's
CA
Silicon Valley
$5,099,998
$3,200,000
146
98
223
7
Seller's
CA
Sonoma County
$2,600,000
$1,765,000
127
40
37
27
Seller's
CA
Ventura County
$3,750,000
$1,650,000
111
40
77
21
Seller's
CO
Boulder
$2,395,000
$1,675,000
70
34
64
32
Seller's
CO
Colorado Springs
$999,000
$839,000
119
51
101
4
Seller's
CO
Denver
$2,247,000
$1,375,250
150
69
192
5
Seller's
CO
Douglas County
$2,360,000
$1,200,000
67
34
104
5
Seller's
CO
Durango
$1,985,000
$1,270,000
41
8
14
48
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
Summit County
$4,375,000
N/A
21
5
0
N/A
Buyer's
CO
Telluride
$10,150,000
$4,450,000
39
6
9
105
Seller's
CO
Vail
$6,499,000
$6,175,000
43
14
16
70
Seller's
CT
Central Connecticut
$699,000
$579,000
201
40
85
47
Seller's
CT
Coastal Connecticut
$2,499,500
$1,850,000
322
98
103
60
Seller's
DC
Washington D.C.
$5,145,000
$2,750,000
40
17
13
6
Seller's
DE
Sussex County Coastal
$1,394,500
$1,302,172
76
25
23
16
Seller's
FL
Boca Raton/Delray Beach
$4,495,000
$2,159,000
151
62
76
27
Seller's
FL
Coastal Pinellas County
$2,425,000
$1,595,000
52
20
35
6
Seller's
FL
Greater Fort Lauderdale
$2,300,000
$1,150,000
432
177
270
20
Seller's
FL
Jacksonville Beaches
$1,797,500
$1,182,500
120
52
58
17
Seller's
FL
Lee County
$1,484,950
$1,392,500
240
105
124
9
Seller's
FL
Marco Island
$3,570,000
$2,390,000
40
10
21
7
Seller's
FL
Miami
$2,300,000
$1,797,500
473
147
110
32
Seller's
FL
Naples
$3,600,000
$2,775,000
189
92
62
7
Seller's
FL
Orlando
$1,399,000
$1,287,500
259
121
146
10
Seller's
FL
Palm Beach Towns
$8,600,000
$4,300,000
106
42
37
27
Seller's
FL
Sarasota & Beaches
$3,647,000
$2,250,000
126
42
57
4
Seller's
FL
South Pinellas County
$2,285,000
$1,300,000
46
20
39
6
Seller's
FL
South Walton
$3,000,000
$2,250,000
122
52
59
22
Seller's
FL
Tampa
$1,042,368
$675,000
276
128
316
6
Seller's
FL
Weston
$1,462,500
$992,500
14
9
26
10
Seller's
GA
Atlanta
$1,795,000
$1,083,250
319
139
168
5
Seller's
GA
Duluth
$1,347,500
$1,200,000
6
3
5
3
Seller's
HI
Island of Hawaii
$2,372,500
$1,485,000
60
22
31
21
Seller's
HI
Kauai
$4,925,000
$2,000,000
32
7
17
15
Seller's
HI
Maui
$3,900,000
$1,900,000
109
25
21
65
Balanced
HI
Oahu
$3,200,000
$2,375,000
125
38
46
16
Seller's
ID
Ada County
$874,950
$770,000
190
121
255
10
Seller's
ID
Northern
$1,824,000
$1,257,753
108
48
33
116
Seller's
IL
Chicago
$1,600,000
$1,235,764
358
138
178
50
Seller's
IL
DuPage County
$1,232,000
$1,003,250
186
66
72
63
Seller's
IL
Lake County
$1,185,000
$886,555
167
50
63
55
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
Will County
$744,500
$631,500
106
27
43
9
Seller's
IN
Hamilton County
$1,112,500
$770,000
36
13
46
5
Seller's
KS
Johnson County
$782,200
$780,000
139
31
88
9
Seller's
MA
Cape Cod
$2,500,000
$1,980,000
99
14
23
63
Seller's
MA
Greater Boston
$4,399,000
$2,750,000
73
27
56
25
Seller's
MA
South Shore
$1,875,000
$1,550,000
28
10
11
18
Seller's
MD
Anne Arundel County
$1,150,000
$923,750
85
33
54
8
Seller's
MD
Frederick County
$870,000
$853,598
28
13
26
5
Seller's
MD
Howard County
$1,174,990
$1,210,000
43
8
20
8
Seller's
MD
Montgomery County
$2,300,000
$1,600,000
68
30
59
8
Seller's
MD
Talbot County
$3,500,000
$1,750,000
16
1
5
54
Seller's
MD
Worcester County
$1,247,500
$764,950
26
6
10
41
Seller's
MI
Livingston County
$759,900
$725,000
51
16
17
41
Seller's
MI
Monroe County
$739,000
$550,000
7
1
7
61
Seller's
MI
Oakland County
$849,950
$665,500
374
129
176
14
Seller's
MI
Washtenaw County
$1,062,450
$767,500
66
12
35
34
Seller's
MI
Wayne County
$825,998
$650,000
98
36
60
20
Seller's
MN
Olmsted County
$814,800
$725,000
45
20
15
66
Seller's
MN
Twin Cities
$1,249,950
$1,075,000
338
116
100
35
Seller's
MO
Kansas City
$659,950
$640,000
505
128
265
7
Seller's
MO
St. Louis
$896,200
$710,000
62
27
43
16
Seller's
NC
Asheville
$1,299,900
$950,000
113
20
41
37
Seller's
NC
Charlotte
$1,416,420
$964,576
164
56
180
3
Seller's
NC
Lake Norman
$1,100,000
$1,128,250
71
20
44
18
Seller's
NC
Raleigh-Durham
$1,471,750
$916,000
106
47
127
0
Seller's
NJ
Ocean County
$950,000
$802,500
202
72
94
22
Seller's
NV
Lake Tahoe
$4,200,000
$2,662,500
35
15
12
62
Seller's
NV
Las Vegas
$2,000,000
$1,300,000
333
133
110
21
Seller's
NV
Reno
$2,300,000
$1,512,500
33
11
16
79
Seller's
NY
Brooklyn
$1,769,500
$1,730,000
210
46
19
110
Buyer's
NY
Nassau County
$1,999,000
$1,500,000
545
136
101
55
Balanced
NY
Staten Island
$1,350,000
$992,000
109
31
28
48
Seller's
NY
Suffolk County
$2,099,000
$1,360,000
597
153
137
54
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
OH
Cincinnati
$836,950
$820,750
152
19
28
3
Balanced
OH
Cleveland Suburbs
$799,363
N/A
21
6
0
N/A
Buyer's
ON
GTA - Durham
$1,799,450
$1,600,000
72
153
359
6
Seller's
ON
GTA - York
$2,633,500
$2,076,000
280
442
438
6
Seller's
ON
Mississauga
$3,768,800
$2,500,000
52
68
77
6
Seller's
ON
Oakville
$4,150,000
$2,322,500
31
28
44
5
Seller's
ON
Toronto
$4,028,875
$3,200,000
238
242
216
7
Seller's
ON
Waterloo Region
$1,650,000
$1,310,000
17
88
254
6
Seller's
OR
Portland
$1,695,000
$1,180,000
166
62
130
5
Seller's
TN
Greater Chattanooga
$1,200,000
$870,000
76
27
28
4
Seller's
TN
Nashville
$2,349,975
$1,400,000
124
60
179
2
Seller's
TX
Austin
$1,324,950
$923,000
179
107
266
5
Seller's
TX
Collin County
$839,470
$699,950
183
118
336
4
Seller's
TX
Dallas
$1,637,500
$1,060,000
110
61
125
5
Seller's
TX
Denton County
$859,900
$725,000
117
70
233
5
Seller's
TX
El Paso
$652,500
$650,000
66
21
33
13
Seller's
TX
Fort Worth
$1,100,000
$775,000
246
107
221
6
Seller's
TX
Greater Tyler
$849,500
$730,000
53
23
17
10
Seller's
TX
Houston
$989,000
$835,000
799
295
283
28
Seller's
TX
Lubbock
$762,500
$587,450
40
18
22
69
Seller's
TX
San Angelo
$667,450
$567,750
34
13
2
132
Buyer's
TX
San Antonio
$826,653
$735,000
166
41
119
28
Seller's
TX
The Woodlands & Spring
$1,199,000
$720,000
79
32
93
12
Seller's
UT
Park City
$5,147,500
$3,200,000
68
23
27
35
Seller's
UT
Salt Lake City
$1,350,000
$985,000
75
45
125
7
Seller's
VA
Arlington & Alexandria
$2,199,950
$1,725,000
36
12
32
9
Seller's
VA
Charlottesville
$1,481,600
$951,000
67
18
23
2
Seller's
VA
Fairfax County
$2,387,500
$1,413,000
150
72
100
6
Seller's
VA
McLean & Vienna
$3,061,500
$1,999,998
82
31
38
15
Seller's
VA
Richmond
$799,990
$765,847
111
36
67
5
Seller's
WA
Greater Seattle
$2,350,000
$1,700,000
170
132
337
5
Seller's
WA
Seattle
$2,400,000
$1,600,000
55
44
101
6
Seller's
WA
Spokane
$1,312,450
$1,100,000
36
15
15
4
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
$835,000
$710,000
107
51
33
22
Seller's
AZ
Paradise Valley
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$1,400,000
$780,000
79
43
68
18
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Mid Vancouver Island
$789,900
$788,888
41
9
8
7
Balanced
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,999,900
$1,850,000
642
352
216
9
Seller's
BC
Victoria
$1,022,950
$1,006,500
112
69
48
11
Seller's
CA
Central Coast
$1,249,000
$990,000
6
7
17
7
Seller's
CA
East Bay
$1,116,938
$1,149,715
55
43
113
7
Seller's
CA
Greater Palm Springs
-
-
-
-
-
-
-
CA
Lake Tahoe
$1,495,000
$1,278,000
11
6
8
7
Seller's
CA
Los Angeles Beach Cities
$2,150,000
$1,775,000
99
56
41
11
Seller's
CA
Los Angeles City
$1,949,250
$1,475,000
260
111
105
15
Seller's
CA
Los Angeles The Valley
$889,250
$800,000
26
18
81
8
Seller's
CA
Marin County
$1,050,000
$1,300,500
10
5
14
12
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,198,000
$1,120,000
109
97
217
6
Seller's
CA
Placer County
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,357,500
$1,027,500
142
104
170
6
Seller's
CA
San Francisco
$2,869,000
$2,600,000
80
33
37
11
Seller's
CA
San Luis Obispo County
-
-
-
-
Santa Barbara
$1,650,000
3
3
0
-
-
CA
-
Buyer's
CA
Silicon Valley
$1,857,665
$1,643,000
39
36
118
7
Seller's
CA
Sonoma County
$6,450,000
$725,000
2
0
5
32
Seller's
CA
Ventura County
$888,950
$761,763
30
17
46
24
Seller's
CO
Boulder
$902,660
$917,500
20
10
40
27
Seller's
CO
Colorado Springs
-
-
-
-
-
-
-
CO
Denver
$1,075,000
$775,000
89
39
63
6
Seller's
CO
Douglas County
$692,488
$649,000
4
5
10
8
Seller's
CO
Durango
$732,500
$824,000
6
5
10
41
Seller's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
-
$1,700,000
0
0
1
6
-
-
-
-
-
-
$4,395,000
$2,950,000
56
26
12
23
Seller's
Central Connecticut
-
-
-
-
-
-
-
CT
Coastal Connecticut
$1,450,000
$681,397
97
20
21
35
Seller's
DC
Washington D.C.
$2,199,000
$1,512,500
119
36
63
8
Seller's
DE
Sussex County Coastal
$977,000
$926,000
10
6
5
11
Seller's
FL
Boca Raton/Delray Beach
$1,860,000
$875,000
91
44
83
8
Seller's
FL
Coastal Pinellas County
$1,699,900
$1,150,000
41
10
33
4
Seller's
FL
Greater Fort Lauderdale
$943,700
$852,500
494
141
178
35
Seller's
FL
Jacksonville Beaches
$1,750,000
$950,000
9
3
7
8
Seller's
FL
Lee County
$918,000
$799,000
79
46
75
5
Seller's
FL
Marco Island
$1,700,000
$2,050,000
5
3
2
23
Seller's
FL
Miami
$1,500,000
$1,325,000
891
196
220
83
Seller's
FL
Naples
$2,225,000
$1,825,000
84
37
69
13
Seller's
FL
Orlando
$661,950
$560,000
50
17
20
4
Seller's
FL
Palm Beach Towns
$1,995,000
$1,848,500
74
32
62
33
Seller's
FL
Sarasota & Beaches
$2,159,000
$1,221,500
71
34
42
11
Seller's
FL
South Pinellas County
$1,449,000
$850,000
43
19
75
7
Seller's
FL
South Walton
$1,495,000
$1,249,000
119
29
37
12
Seller's
FL
Tampa
$1,607,450
$685,000
42
27
47
4
Seller's
FL
Weston
-
-
-
-
-
-
-
GA
Atlanta
$799,000
$625,000
229
106
137
6
Seller's
GA
Duluth
-
-
-
-
-
-
-
HI
Island of Hawaii
$2,225,000
$1,407,500
26
15
24
7
Seller's
HI
Kauai
$1,600,000
$1,438,679
31
6
22
16
Seller's
HI
Maui
$3,142,500
$1,675,000
50
19
35
61
Seller's
HI
Oahu
$1,269,750
$950,000
326
92
106
15
Seller's
ID
Ada County
$599,000
$659,400
13
6
22
9
Seller's
ID
Northern
-
-
-
-
-
-
-
IL
Chicago
$1,256,900
$950,000
583
186
147
97
Seller's
IL
DuPage County
$899,000
$625,000
9
3
10
35
Seller's
IL
Lake County
-
-
-
-
-
-
-
State
Market Name
CO
Summit County
CO
Telluride
CO
Vail
CT
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Hamilton County
-
-
-
-
-
-
-
KS
Johnson County
$592,475
$654,314
64
13
11
53
Balanced
MA
Cape Cod
$1,100,000
$999,000
17
5
7
18
Seller's
MA
Greater Boston
$2,499,000
$2,295,000
205
93
55
39
Seller's
MA
South Shore
$1,100,495
$1,010,000
16
1
5
75
Seller's
MD
Anne Arundel County
$589,765
$572,000
21
14
40
6
Seller's
MD
Frederick County
-
-
-
-
-
-
-
MD
Howard County
$714,990
$567,500
9
7
20
5
Seller's
MD
Montgomery County
$810,000
$698,000
47
23
53
7
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$743,950
$589,000
42
15
23
25
Seller's
MI
Livingston County
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$799,900
$648,130
41
15
20
10
Seller's
MI
Washtenaw County
$653,998
$614,250
36
15
6
3
Balanced
MI
Wayne County
$665,000
$595,000
59
8
8
14
Buyer's
MN
Olmsted County
MN
Twin Cities
MO
Kansas City
MO
St. Louis
-
-
-
-
-
-
-
NC
Asheville
$935,000
$724,000
24
6
10
7
Seller's
NC
Charlotte
$979,000
$641,000
67
16
76
12
Seller's
NC
Lake Norman
$520,650
$549,000
4
1
1
4
Seller's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$824,495
$739,000
12
4
5
91
Seller's
NV
Lake Tahoe
$2,550,000
$1,400,000
7
5
4
35
Seller's
NV
Las Vegas
NV
Reno
-
-
-
-
-
-
-
NY
Brooklyn
$1,488,000
$1,220,000
407
105
87
53
Seller's
NY
Nassau County
$1,498,500
$1,350,000
82
17
9
88
Buyer's
NY
Staten Island
$599,450
$600,000
42
18
33
36
Seller's
NY
Suffolk County
$749,000
$604,500
77
32
24
23
Seller's
State
Market Name
IL
Will County
IN
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
OH
Cincinnati
$737,500
20
1
0
-
-
Buyer's
-
-
OH
Cleveland Suburbs
-
-
ON
GTA - Durham
$1,405,945
$880,000
2
18
72
5
Seller's
ON
GTA - York
$824,500
$809,300
60
163
236
7
Seller's
ON
Mississauga
$999,440
$994,997
42
100
204
5
Seller's
ON
Oakville
$1,675,000
$1,403,500
17
15
28
5
Seller's
ON
Toronto
$1,398,888
$1,080,000
423
453
528
7
Seller's
ON
Waterloo Region
$799,900
$865,000
9
51
147
6
Seller's
OR
Portland
-
-
-
-
-
-
-
TN
Greater Chattanooga
TN
Nashville
$1,400,000
$642,500
25
13
61
7
Seller's
TX
Austin
$1,200,000
$797,500
45
33
56
6
Seller's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$1,199,900
$662,500
71
26
56
13
Seller's
TX
Denton County
TX
El Paso
TX
Fort Worth
TX
Greater Tyler
-
-
-
-
-
-
-
TX
Houston
$672,500
$650,000
108
45
33
28
Seller's
TX
Lubbock
TX
San Angelo
-
-
-
-
-
-
-
TX
San Antonio
$725,000
$547,000
27
10
6
17
Seller's
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$1,920,000
$1,902,000
36
14
50
3
Seller's
UT
Salt Lake City
$675,000
$550,000
21
14
60
15
Seller's
VA
Arlington & Alexandria
$1,050,000
$965,000
47
22
51
5
Seller's
VA
Charlottesville
$849,900
$539,692
19
7
10
23
Seller's
VA
Fairfax County
$867,995
$675,500
62
46
102
5
Seller's
VA
McLean & Vienna
$1,463,000
$927,500
18
4
11
4
Seller's
VA
Richmond
-
-
-
-
-
-
-
WA
Greater Seattle
$1,472,500
$1,050,000
106
59
107
4
Seller's
WA
Seattle
$1,597,450
$1,167,500
78
34
38
4
Seller's
WA
Spokane
-
-
-
-
-
-
-
-
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, which includes detailed statistical analysis of Kauai, Oahu, Maui, and the Island of Hawaii for February 2022. In real estate it is normal for statistics to measured month-over-month to appreciate any unfolding trends. In the luxury market, quarterly and yearly comparisons are more common as typically a slower pace of sales is expected. However, to truly appreciate the staggering demand for luxury real estate since October 2020 (when the islands officially welcomed visitors back), comparing data from two years ago clearly shows how significantly demand has changed since pre-pandemic times; because of pent-up demand, rising equity markets and the need to find a safer haven. Indeed, the differences between these two-year’s results are staggering, especially for luxury singlefamily properties. The number of properties sold during February 2022 compared to February 2020 increased by an average of 173% across all islands. Whereas, year-over-year the number of sales for February showed a slight decrease of -3%. This might indicate that the market is slowing, however, looking more closely at inventory levels provides a greater insight into why demand has not fallen. The level of inventory available in 2022 has decreased by 31% compared to 2021 but more significantly by 59% since 2020. While there are still luxury homes available, currently new sales are being impeded by the lack of desirable homes available for purchase. Realtors are also reporting that the higher the price bracket the less inventory available. Currently, the attached luxury property market continues to see significant sales increases when compared to the same months in 2021, which is a reflection of the slower return of demand for these types of properties and well as a more gradual decline in inventory levels. The number of sales compared to 2020 has risen by 171%, and 38% compared to 2021. Inventory levels are on the decline, but not to the same level as single-family homes, falling by 38% since 2020 and 21% compared to 2021. What does this all signify? The simple answer is that unless inventory levels improve dramatically then increasing the number of sales per year will remain inhibited. Luxury homes are expected to continue experiencing multiple offers and prices are anticipated to keep trending upwards. One word of caution, for homeowners looking to sell in this market, a move-in ready property will command not only more interest but will be more likely to be purchased; buyers simply do not have the time, resources nor the interest, especially if they are not local, to renovate. As always, a real estate expert familiar with local trends is the best resource to navigate a specific market.
March
2022
Kauai Hawaii
KAUAI
Single-Family Homes
Luxury Inventory vs. Sales | February 2022 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 $3,400,000 - $3,899,999
3
0
Seller's Market
0
53%
3 1
2
1 1 4
1 0
4
3 3
$1,600,000 - $1,799,999 0
1 1 1
$1,400,000 - $1,499,999
1
$1,300,000 - $1,399,999
1
Total Sales Ratio2:
3
0
$2,200,000 - $2,599,999
$1,200,000 - $1,299,999
32
Total Sales: 17
0 0
$2,600,000 - $2,999,999
$1,500,000 - $1,599,999
Total Inventory:
2
0
$3,000,000 - $3,399,999
$1,800,000 - $2,199,999
12
0
2
0 0
Beds3
Price
DOM
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0-1 Bedrooms
NA
NA
NA
0
1
0%
2 Bedrooms
$2,325,000
158
3
2
1
200%
3 Bedrooms
$1,790,000
15
2
5
10
50%
4 Bedrooms
$2,072,000
2
3
5
12
42%
5 Bedrooms
$2,487,500
75
4
4
2
200%
6+ Bedrooms
$2,000,000
0
5
1
5
20%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
KAUAI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
$2,154,750
$1,899,500
$1,862,500
$1,839,500
89
84
85
$2,212,500 $1,935,000
73
14 Feb-21
18
Mar-21
Apr-21
24
May-21
57
55 30
Jun-21
Solds
$2,312,500
$2,030,000 $1,683,250
56 22
Inventory
20
48
48 24
16
Jul-21
$1,875,000
Aug-21
Sep-21
$2,000,000
$1,789,000
$1,735,000
57
47
22
Nov-21
Dec-21
14 Oct-21
44
19
32 15
Jan-22
17
Feb-22
Median Data Review | February Total Inventory Feb. 2021
Total Solds
Feb. 2022
84
32 VARIANCE: -62 %
$
17 VARIANCE: 21 %
878 VARIANCE: 26 % $
Feb. 2021
$
1.90m
Feb. 2021
Feb. 2022
$
Days on Market Feb. 2021
95.21%
97.63% VARIANCE: 3 %
40
Feb. 2022
15 VARIANCE: -63 %
Kauai Market Summary | February 2022 • The Kauai single-family luxury market is a Seller's Market with a 53% Sales Ratio. • Homes sold for a median of 97.63% of list price in February 2022.
• 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 $2,000,000.
• The median days on market for February 2022 was 15 days, down from 40 in February 2021.
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
Feb. 2022
2.00m VARIANCE: 5 %
Sale to List Price Ratio
Feb. 2022
698
Feb. 2022
14
Sale Price Per SqFt. Feb. 2021
Feb. 2021
Sales Price
KAUAI
Attached Homes
KAUAI
Luxury Inventory vs. Sales | February 2022 Inventory
Attached Homes
Sales
Luxury Benchmark Price 1: $950,000 $5,000,000+
0 0
$4,500,000 - $4,999,999 $4,000,000 - $4,499,999 $3,600,000 - $3,999,999
$3,200,000 - $3,599,999
1 0
$2,100,000 - $2,399,999
$1,800,000 - $2,099,999
Total Inventory:
2
Total Sales: 22
0
3
1
1
0
2
0 0
2 5
1
3
$1,400,000 - $1,599,999 $1,200,000 - $1,399,999
7 5
3 2
0
$1,000,000 - $1,099,999
4
3
1
$950,000 - $999,999
1
71%
Total Sales Ratio2:
0 0
$1,600,000 - $1,799,999
$1,100,000 - $1,199,999
31
Seller's Market
1
$2,800,000 - $3,199,999 $2,400,000 - $2,799,999
2
4
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
$1,249,000
8
2
13
16
81%
3 Bedrooms
$1,718,750
74
3
4
6
67%
4 Bedrooms
$1,500,000
1
4
3
5
60%
5 Bedrooms
$1,530,000
85
6
1
2
50%
6+ Bedrooms
$1,275,000
21
5
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
$1,395,000
$1,150,000
55
$1,199,000
$1,189,125
$1,282,500
Inventory
$1,375,000
Solds
$1,495,000 $1,255,000
$1,350,000
$1,438,679
$1,420,516
$1,375,000
$1,200,000
55 44
39 25
13
14
Feb-21
Mar-21
13
Apr-21
May-21
41
35 20
Jun-21
28
40
34
28
20
Jul-21
13
15
Aug-21
Sep-21
Oct-21
31
19
15
31
28
22
22
5 Nov-21
Dec-21
Jan-22
Feb-22
Median Data Review | February Total Inventory Feb. 2021
Total Solds
Feb. 2022
55
31 VARIANCE: -44 %
$
22 VARIANCE: 69 %
799 VARIANCE: -5 % $
Feb. 2021
$
1.15m
Sale to List Price Ratio
Feb. 2022
840
Feb. 2022
13
Sale Price Per SqFt. Feb. 2021
Feb. 2021
Sales Price
Feb. 2021
Feb. 2022
1.44m VARIANCE: 25 % $
Days on Market Feb. 2021
96.97%
100.00% VARIANCE: 3 %
14
Feb. 2022
16 VARIANCE: 14 %
Kauai Market Summary | February 2022 • The Kauai 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 February 2022.
• The most active price band is $950,000-$999,999, where the sales ratio is 400%. • The median luxury sales price for attached homes is $1,438,679.
• The median days on market for February 2022 was 16 days, up from 14 in February 2021.
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
Feb. 2022
March
2022
Oahu Hawaii
OAHU
Single-Family Homes
Luxury Inventory vs. Sales | February 2022 Inventory
Sales
Luxury Benchmark Price 1: $1,750,000 $9,500,000+ $8,500,000 - $9,499,999 $7,500,000 - $8,499,999 $6,500,000 - $7,499,999
$5,500,000 - $6,499,999
20
1 0
1
Total Inventory: 7
1
6
4
6
2
9
1
$3,100,000 - $3,499,999
7
4
$2,700,000 - $3,099,999
9
4
$2,300,000 - $2,699,999
7
4 3
6 6
$1,800,000 - $1,899,999 $1,750,000 - $1,799,999
1
26
5
$2,100,000 - $2,299,999
$1,900,000 - $2,099,999
Total Sales Ratio2: 37%
5
$4,700,000 - $5,499,999
$3,500,000 - $4,099,999
Seller's Market
1
$4,100,000 - $4,699,999
Total Sales: 46
3
1
125
7
10
5
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$2,015,000
4
3
23
29
79%
3,000 - 3,999
$2,054,317
4
3
8
25
32%
4,000 - 4,999
$4,075,000
4
5
8
26
31%
5,000 - 5,999
$3,350,000
5
5
3
15
20%
6,000 - 6,999
$2,955,000
6
5
1
11
9%
7,000+
$6,950,000
5
7
3
19
16%
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
$2,650,000
$2,430,000
$2,250,000
172
170
169
168
40
49
Feb-21
Mar-21
$2,527,500
49
Apr-21
$2,270,000
May-21
$2,340,000
178
150 60
$2,552,500
Inventory
67
Jun-21
174
56
Jul-21
$2,425,000
Solds
$2,505,000
174
159
66
59
Aug-21
Sep-21
$2,690,000
$2,557,500
159 66
Oct-21
$2,375,000
$2,374,000
150
143
58
51
Nov-21
Dec-21
125 46
40
Jan-22
Feb-22
Median Data Review | February Total Inventory Feb. 2021
Total Solds
Feb. 2022
172
125 VARIANCE: -27 %
$
46 VARIANCE: 15 %
840 VARIANCE: 19 % $
Feb. 2021
$
2.25m
Feb. 2021
Feb. 2022
$
Days on Market Feb. 2021
98.12%
100.00% VARIANCE: 2 %
39
Feb. 2022
16 VARIANCE: -59 %
Oahu Market Summary | February 2022 • The Oahu single-family luxury market is a Seller's Market with a 37% Sales Ratio. • Homes sold for a median of 100.00% of list price in February 2022.
• The most active price band is $1,900,000-$2,099,999, where the sales ratio is 200%. • The median luxury sales price for single-family homes is $2,375,000.
• The median days on market for February 2022 was 16 days, down from 39 in February 2021.
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
Feb. 2022
2.38m VARIANCE: 6 %
Sale to List Price Ratio
Feb. 2022
706
Feb. 2022
40
Sale Price Per SqFt. Feb. 2021
Feb. 2021
Sales Price
OAHU
Attached Homes
Luxury Inventory vs. Sales | February 2022 Inventory
Sales
Luxury Benchmark Price 1: $750,000 $7,000,000+ $6,000,000 - $6,999,999
1
$2,600,000 - $3,199,999 $2,200,000 - $2,599,999
2
Total Sales: 106
1
10
Seller's Market
10
Total Sales Ratio2: 33%
6
0
15
0
17
2
$1,800,000 - $2,199,999 $1,500,000 - $1,799,999
34
8 23
4
$1,200,000 - $1,499,999
45
19
$1,000,000 - $1,199,999
42
11
$900,000 - $999,999
31
18
$800,000 - $899,999
51
25
$750,000 - $799,999
1
326
Total Inventory:
0
$3,800,000 - $4,399,999 $3,200,000 - $3,799,999
3
0
$5,200,000 - $5,999,999 $4,400,000 - $5,199,999
10
0
27
17
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$830,000
1
1
21
130
16%
1,000 - 1,499
$1,000,000
2
2
47
97
48%
1,500 - 1,999
$930,000
3
2
29
41
71%
2,000 - 2,499
$1,485,000
3
3
5
29
17%
2,500 - 2,999
$1,475,000
3
3
3
9
33%
3,000+
$5,500,000
0
1
1
20
5%
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
$903,500
360
$970,000
$949,000
338
324
76
87
Feb-21
Mar-21
$981,500
Apr-21
$955,000
$910,000
$875,000
301
83
$960,000
Inventory
88
May-21
121
Jun-21
125
Jul-21
146
$947,000
355
329
283
278
273
Solds
Aug-21
Sep-21
351
116
101
$935,000
$900,000
Oct-21
327
$968,750
$950,000
315
326
122
120
105
Nov-21
Dec-21
106
Jan-22
Feb-22
Median Data Review | February Total Inventory Feb. 2021
Total Solds
Feb. 2022
360
326 VARIANCE: -9 %
$
106 VARIANCE: 39 %
817 VARIANCE: 14 % $
Feb. 2021
904k
$
Sale to List Price Ratio
Feb. 2022
717
Feb. 2022
76
Sale Price Per SqFt. Feb. 2021
Feb. 2021
Sales Price
Feb. 2021
Feb. 2022
950k VARIANCE: 5 % $
Days on Market Feb. 2021
98.95%
100.00% VARIANCE: 1 %
39
Feb. 2022
15 VARIANCE: -62 %
Oahu Market Summary | February 2022 • The Oahu attached luxury market is a Seller's Market with a 33% Sales Ratio. • Homes sold for a median of 100.00% of list price in February 2022.
• The most active price band is $750,000-$799,999, where the sales ratio is 63%. • The median luxury sales price for attached homes is $950,000.
• The median days on market for February 2022 was 15 days, down from 39 in February 2021.
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
Feb. 2022
March
2022
Maui Hawaii
MAUI
Single-Family Homes
Luxury Inventory vs. Sales | February 2022 Inventory
Sales
Luxury Benchmark Price 1: $1,500,000 $12,000,000+ $9,900,000 - $11,999,999 $7,900,000 - $9,899,999 $5,900,000 - $7,899,999
$4,900,000 - $5,899,999 $3,900,000 - $4,899,999 $3,400,000 - $3,899,999 $2,900,000 - $3,399,999
12
1 5
0
5
0
15
0 8
0
10
0
9
0 8
0
$2,400,000 - $2,899,999 $2,200,000 - $2,399,999 $2,000,000 - $2,199,999
0
2
Total Inventory:
3
$1,700,000 - $1,799,999
3
$1,600,000 - $1,699,999
1
6
3
$1,800,000 - $1,999,999
$1,500,000 - $1,599,999
13
3
109
Total Sales: 21
6 4
Balanced Market Total Sales Ratio2:
5
2
19%
6
1
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$1,875,500
3
2
6
32
19%
2,000 - 2,999
$1,885,000
4
3
11
28
39%
3,000 - 3,999
$2,400,000
4
3
3
20
15%
4,000 - 4,999
$16,200,000
5
6
1
13
8%
5,000 - 5,999
NA
NA
NA
0
7
0%
6,000+
NA
NA
NA
0
9
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.
MAUI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$3,550,000
$2,600,000
125
$2,495,000
116
116
29
35
Feb-21
Mar-21
$2,680,000
Apr-21
$2,575,000
34
May-21
$2,775,000 $2,198,000
118
103 43
$2,874,500
$2,332,500
112
39
Jun-21
103 40
Jul-21
104
102
30
32
Aug-21
Sep-21
$2,420,000
$2,162,500
Oct-21
$1,900,000
112
106
92 49
$2,225,000
27
30
Nov-21
Dec-21
109
35
21
Jan-22
Feb-22
Median Data Review | February Total Inventory Feb. 2021
Total Solds
Feb. 2022
125
Feb. 2022
109 VARIANCE: -13 %
21 VARIANCE: -28 %
Sale Price Per SqFt.
Sale to List Price Ratio
Feb. 2021
$
Feb. 2021
29
Feb. 2022
1,060
837 VARIANCE: -21 % $
Feb. 2021
Feb. 2022
Sales Price Feb. 2021
$
3.55m
1.90m VARIANCE: -46 % $
Days on Market Feb. 2021
95.71%
100.00% VARIANCE: 4 %
130
Feb. 2022
65 VARIANCE: -50 %
Maui Market Summary | February 2022 • The Maui single-family luxury market is a Balanced Market with a 19% Sales Ratio. • Homes sold for a median of 100.00% of list price in February 2022.
• The most active price band is $1,800,000-$1,999,999, where the sales ratio is 200%. • The median luxury sales price for single-family homes is $1,900,000.
• The median days on market for February 2022 was 65 days, down from 130 in February 2021.
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
Feb. 2022
MAUI
Attached Homes
Luxury Inventory vs. Sales | February 2022 Inventory
Sales
Luxury Benchmark Price 1: $1,200,000 $4,500,000+ $3,600,000 - $4,499,999
1
$2,000,000 - $2,199,999
70%
2
0
2 2 1 1 1
$1,600,000 - $1,699,999
1
$1,500,000 - $1,599,999
1
2 3
2 2
$1,400,000 - $1,499,999
5
1
5
$1,200,000 - $1,299,999
1
Total Sales Ratio2:
3
$1,700,000 - $1,799,999
$1,300,000 - $1,399,999
Seller's Market
3 6
0
50
Total Sales: 35
0
$1,900,000 - $1,999,999
$1,800,000 - $1,899,999
Total Inventory:
3 2
$2,600,000 - $3,099,999
$2,200,000 - $2,399,999
6
1
$3,100,000 - $3,599,999
$2,400,000 - $2,599,999
18
2
6
3
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,526,250
1
2
8
8
100%
1,000 - 1,499
$1,450,000
2
2
17
16
106%
1,500 - 1,999
$2,200,000
3
3
5
4
125%
2,000 - 2,499
$3,550,000
3
4
2
7
29%
2,500 - 2,999
$3,550,000
3
4
3
12
25%
3,000+
NA
NA
NA
0
3
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.
MAUI
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
Solds
$2,325,000
$2,249,000 $2,025,000 $1,700,000
$1,700,000
$1,746,250
$1,648,000
$1,500,000
$1,769,000
$1,927,000
$2,000,000
$1,925,000 $1,675,000
104
69
58
62
52
48
50
25
Feb-21
Mar-21
Apr-21
May-21
38
42
Jun-21
37
47
25
Jul-21
36
27
Aug-21
40
Sep-21
31
31
Oct-21
34
48
34
Nov-21
47
34
Dec-21
50 30
Jan-22
35
Feb-22
Median Data Review | February Total Inventory Feb. 2021
Total Solds
Feb. 2022
104
50 VARIANCE: -52 %
$
1,257
35 VARIANCE: 40 %
Feb. 2021
$
1.70m
1,394 VARIANCE: 11 %
Feb. 2021
Feb. 2022
$
Days on Market Feb. 2021
98.50%
100.00% VARIANCE: 2 %
77
Feb. 2022
61 VARIANCE: -21 %
Maui Market Summary | February 2022 • The Maui attached luxury market is a Seller's Market with a 70% Sales Ratio. • Homes sold for a median of 100.00% of list price in February 2022.
• The most active price band is $1,300,000-$1,399,999, where the sales ratio is 500%. • The median luxury sales price for attached homes is $1,675,000.
• The median days on market for February 2022 was 61 days, down from 77 in February 2021.
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
Feb. 2022
1.68m VARIANCE: -1 %
Sale to List Price Ratio
Feb. 2022
$
Feb. 2022
25
Sale Price Per SqFt. Feb. 2021
Feb. 2021
Sales Price
March
2022
Island of Hawaii
ISLAND OF HAWAII
Single-Family Homes
Luxury Inventory vs. Sales | February 2022 Inventory
Sales
Luxury Benchmark Price 1: $1,100,000 $9,000,000+
1 1
$7,800,000 - $8,999,999 $6,800,000 - $7,799,999 $5,800,000 - $6,799,999
$5,000,000 - $5,799,999
0
0
$2,800,000 - $3,399,999
$2,400,000 - $2,799,999
Total Sales: 31 Seller's Market
1
Total Sales Ratio2:
1
8
0 6
0 1 1
8
4
$1,700,000 - $1,999,999
6
3
$1,400,000 - $1,699,999
1
12
6 1
3 3
$1,200,000 - $1,299,999 $1,100,000 - $1,199,999
52%
1 1
$2,000,000 - $2,399,999
$1,300,000 - $1,399,999
60
Total Inventory:
0 0
$4,200,000 - $4,999,999 $3,400,000 - $4,199,999
11
0
6
1
5
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,395,000
3
3
18
24
75%
3,000 - 3,999
$2,100,000
4
4
1
5
20%
4,000 - 4,999
$2,992,500
4
5
2
3
67%
5,000 - 5,999
NA
NA
NA
0
6
0%
6,000 - 6,999
$5,824,000
9
11
1
1
100%
7,000+
NA
NA
NA
0
1
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
$2,400,000
$2,225,000
$2,001,500 $1,632,500
93
36
Feb-21
$1,990,000 $1,800,000
$1,760,000
77
72
67 43
42
Mar-21
Apr-21
Solds
63 40
May-21
$1,775,000
$1,630,000
57 27
Jun-21
24
Jul-21
64
60
53
$1,650,000
$1,502,500
27
28
Aug-21
Sep-21
64 24
Oct-21
$1,750,000 $1,485,000
63
59 41
24
Nov-21
60 31
27
Dec-21
Jan-22
Feb-22
Median Data Review | February Total Inventory Feb. 2021
Feb. 2022
93
Feb. 2021
Feb. 2022
60 VARIANCE: -35 %
31 VARIANCE: -14 %
Sale Price Per SqFt.
Sale to List Price Ratio
Feb. 2021
$
Total Solds
Feb. 2022
724
754 VARIANCE: 4 % $
36
Feb. 2021
Feb. 2022
98.27%
99.41% VARIANCE: 1 %
Sales Price Feb. 2021
$
1.63m
1.49m VARIANCE: -9 % $
Days on Market Feb. 2021
24
Feb. 2022
21 VARIANCE: -13 %
Island of Hawaii Market Summary | February 2022 • The Island of Hawaii single-family luxury market is a Seller's Market with a 52% Sales Ratio. • Homes sold for a median of 99.41% of list price in February 2022.
• The most active price band is $1,100,000-$1,199,999, where the sales ratio is 500%. • The median luxury sales price for single-family homes is $1,485,000.
• The median days on market for February 2022 was 21 days, down from 24 in February 2021.
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
Feb. 2022
ISLAND OF HAWAII
Attached Homes
Luxury Inventory vs. Sales | February 2022 Inventory
Sales
Luxury Benchmark Price 1: $950,000 $4,500,000+ $4,000,000 - $4,499,999
2
1 0 0
$3,500,000 - $3,999,999 $3,100,000 - $3,499,999
$2,700,000 - $3,099,999 $2,400,000 - $2,699,999
0
0
1
Total Inventory: 26
1
Total Sales: 24 Seller's Market
2
0
$2,100,000 - $2,399,999
1 1
$1,400,000 - $1,599,999
1 1
0
1 1 1
$1,200,000 - $1,299,999
$1,100,000 - $1,199,999
1
$1,000,000 - $1,099,999
1
$950,000 - $999,999
1
3
2
$1,600,000 - $1,799,999
Total Sales Ratio2: 92%
4
3
$1,800,000 - $2,099,999
$1,300,000 - $1,399,999
6
3
6 3
3
1
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
4
0%
1,000 - 1,499
$1,390,000
2
2
9
9
100%
1,500 - 1,999
$1,555,000
2
3
8
3
267%
2,000 - 2,499
$1,050,000
4
3
2
3
67%
2,500 - 2,999
$2,022,500
3
3
2
3
67%
3,000+
$16,575,000
5
6
1
2
50%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
ISLAND OF HAWAII
Attached Homes
13-Month Luxury Market Trend4 Sale Price
$1,625,000 $1,420,000
26
22
Feb-21
$1,427,500
22
$1,425,000
28
26
31
Apr-21
$1,340,000
35
29
28
24
May-21
17
Jun-21
Solds
$1,625,000
$1,595,000 $1,400,000
17
Mar-21
Inventory
34
23
Jul-21
$1,300,000
32
16
18
Aug-21
Sep-21
29
$1,461,560
32
29
25
20
17
Oct-21
$1,407,500 $1,225,000
$1,180,000
Nov-21
Dec-21
26
24
Jan-22
24
Feb-22
Median Data Review | February Total Inventory Feb. 2021
Feb. 2022
26
26 VARIANCE: 0 %
Sale Price Per SqFt. Feb. 2021
$
Feb. 2022
673
971 VARIANCE: 44 % $
Total Solds Feb. 2021
Feb. 2022
22
24 VARIANCE: 9 %
Sales Price Feb. 2021
$
1.42m
1.41m VARIANCE: -1 %
Sale to List Price Ratio Feb. 2021
Feb. 2022
98.17%
100.00% VARIANCE: 2 %
$
Days on Market Feb. 2021
31
Feb. 2022
7 VARIANCE: -77 %
Island of Hawaii Market Summary | February 2022 • The Island of Hawaii attached luxury market is a Seller's Market with a 92% Sales Ratio. • Homes sold for a median of 100.00% of list price in February 2022.
• The most active price band is $1,100,000-$1,199,999, where the sales ratio is 600%. • The median luxury sales price for attached homes is $1,407,500.
• The median days on market for February 2022 was 7 days, down from 31 in February 2021.
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
Feb. 2022
KAUAI
|
OAHU
|
MAUI
|
HAWAII ISLAND
©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 of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated.
