KAUAI
|
OAHU
|
MAUI
|
HAWAII ISLAND
Luxury Market Report Hawaii, March 2021
About Corcoran Pacific Properties Corcoran Pacific Properties, the exclusive Hawaii franchisee of The Corcoran Group, is a locally owned and operated company, founded in 2005 with a simple philosophy: treating every client as a friend, and every transaction as if it was our own. Over the past 15+ years, honoring this philosophy, we established a culture of service and efficiency fueled by high-tech, smart investments in agents, and the tools they need to deliver world-class service while helping clients achieve their real estate goals. By choosing only the most successful, experienced real estate professionals and dedicating every resource to support their success, we’ve grown to be the brokerage of choice serving Kauai, Oahu, Maui and Hawaii Island. With our clients at the heart of our business, Corcoran Pacific Properties is dedicated to excellence, innovation and to continuously raising the bar when it comes to impeccable service, expert insight and a relationship-first approach.
©2020 Corcoran Pacific Properties. All rights reserved. Corcoran® and the Corcoran Logo are registered service marks owned by Corcoran Group LLC. Corcoran Pacific Properties fully supports the principles ofthe Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated.
At Corcoran Pacific Properties, we dream big. We know that luxury is not a price point, but an experience. Through our commitment to providing first-class support for our 250+ award-winning real estate professionals, we deliver a distinctive and authentic experience to our agents, employees and clients, helping people find the lifestyle they seek. Anton Steenman President & CEO
OAHU OFFICES Kahala Office
4211 Waialae Ave. Suite 106 Honolulu, HI 96816 (800) 315-3898
Kailua Office
419-B Kuulei Rd. Kailua, HI 96816 (800) 315-3898
MAUI OFFICES Wailea Office
34 Wailea Gateway Pl. Suite A-204 Kihei, HI 96753 (800) 315-3898
Turtle Bay Office
57-091 Kamehameha Hwy Kahuku, HI 96731 (800) 315-3898
KAUAI OFFICES Lahaina Office
75 Kupuohi St. Suite 203 Lahaina, HI 96761 (800) 315-3898
Koloa Office
Princeville Office
Mauna Lani Portfolio
Waimea Office
3417 Poipu Rd. Suite 110B Koloa, HI 96756 (800) 315-3898
5-4280 Kuhio Hwy. Suite B-103 Princeville, HI 96722 (800) 315-3898
HAWAII ISLAND OFFICES Hilo Office
64 Keawe St. Suite 203 Hilo, HI 96720 (800) 315-3898
Kona Office
Walua Professional Bldg. 75-5905 Walua Rd. Suite 9 Kailua-Kona, HI 96740 (800) 315-3898
Mauna Lani Auberge Resort 68-1400 Mauna Lani Dr, Suite 108 Waimea, HI 96743 (800) 315-3898
65-1291 Kawaihae Rd. Suite 101 C Kamuela, HI 96743 (800) 315-3898
Table of Contents Page 5
Luxury Report Explained
Page 6
Welcome Message
Page 7-10
North American Luxury Market Review
Page 11
13-Month Market Trends
Page 12
Single-Family Homes Monthly Overview
Page 13
Attached Homes Monthly Overview
Page 23
Hawaii Luxury Market Review
Page 24
Kauai Market review
Page 29
Oahu Market Review
Page 34
Maui Market Review
Page 39
Island of Hawaii Market Review
Page 44
Thank You
Luxury Report Explained The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-squarefoot – to provide you a comprehensive North American Luxury Market report. Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes. It is our intention to include additional luxury markets on a continual basis. If your market is not featured, please contact us so we can implement the necessary qualification process. More indepth reports on the luxury communities in your market are available as well. Looking through this report, you will notice three distinct market statuses, Buyer's Market, Seller's Market, and Balanced Market. A Buyer's Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/ or price point. By contrast, a Seller's Market gives sellers greater control over the price point. Typically, this means there are few homes on the market and a generous demand, causing competition between buyers who ultimately drive sales prices higher. A Balanced Market indicates that neither the buyers nor the sellers control the price point at which that property will sell and that there is neither a glut nor a lack of inventory. Typically, this type of market sees a stabilization of both the list and sold price, the length of time the property is on the market as well as the expectancy amongst homeowners in their respective communities – so long as their home is priced in accordance with the current market value.
Report Glossary REMAINING INVENTORY: The total number of homes available at the close of a month. DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted. LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes. NEW LISTINGS: The number of homes that entered the market during the current month. PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot. SALES RATIO: Sales Ratio defines market speed and determines whether the market currently favors buyers or sellers. Buyer's Market = up to 14%; Balanced Market = 15 to 20%; Seller's Market = 21% plus. If >100%, sales from previous month exceed current inventory. SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.
This is your
Luxury Market Report
W
Map of Luxury Residential Markets
elcome to the Luxury Market Report, your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report provides an in-
depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.
Copyright © 2020 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000 The Luxury Market Report is a monthly analysis provided by The Institute for Luxury Home Marketing. Luxury benchmark prices are determined by The Institute. This active and sold data has been compiled by various sources, including local MLS boards, local tax records and Realtor.com. Data is deemed reliable to the best of our knowledge, but is not guaranteed.
North American Luxury Review In recent reports released by world renowned luxury real estate experts Coldwell Banker Global Luxury, Wealth-X and Sotheby’s International, all agree that amid the COVID-19 pandemic and global political instability, ‘home’ has never been so important. The combination of travel and multiple home ownership pre-COVID was significant on a per-capita basis for the world’s wealthy. Post pandemic, priorities have changes from seeking out new experiences and adventures towards finding homes in markets that offered safety, more space, and well-being. This transition was realized worldwide, creating unexpected demand for changes in property types, locations, and amenities. Coldwell Banker Global Luxury’s Report 2021, encapsulates the ongoing trends created in 2020, and showcases the significant resilience of luxury real estate. “Home became the center of people’s lives in 2020. Agents became even more highly valued as clients relied on their expertise to guide them through their transactions. Industry strength carried over into other arenas, like real estate stock gains. Efforts to safeguard wealth led people to cast wider nets into real estate, stocks, art, technology, gaming, and other niches; many accelerated plans to move to tax friendlier locales. Ideas about wealth itself also shifted as the affluent set sights on ‘intangible luxuries,’ like family, health, safety, security and space. The search for intangibles created new demographic groups, called ‘affluent trailblazers,’ who relocated from cities to small town hidden gems, suburbs, and popular second home destinations in 2020. These shifts also triggered a reversal of the ‘less is more’ trend of the last few years, with mega-mansions, compounds, private islands and large estates staging a comeback.”
In the US, statistics show that the luxury home prices for single family homes rose on average 8% last year and are expected to continue at this record-breaking rate for the early part of 2021. In Canada, expectations are for the luxury market to rise as much as 8% in 2021 too. Accordingly to Coldwell Banker’s President and Chief Executive Officer, M. Ryan Gorman, the statistics uncovered in their recent report “point to a promising luxury home market with a strong starting position as we move further into this year.” He also states that, “there were many bright spots around the country and the world, as people adjusted their notions of home and sought fully amenitized retreats where they could live, work, and eventually entertain in place.” In this report, they identified four markets that stood out amount the top performers in the US, specifically based on comparing high sales ratio percentages. Their choice of parameter to measure performance was guided by the escalating number of luxury property sales and the importance of understanding this impact on the level of inventory available. Increased sales does not always mean that inventory levels drop, especially in the luxury market when properties typically take longer to sell, but in 2020 the swing was dramatic with many markets becoming seller-controlled for the first time in many years. Northern California’s East Bay region topped the charts as people relocated in large numbers out of San Francisco in search of less dense living. Colorado Springs, already identified in 2019 as a “market to watch,” also saw substantial increase in demand as Denver’s ever-increasing prices and adaptation to working from home allowed for purchasing homes outside the metropolitan area. Low interest rates gave DC and Arlington-area millennials the unexpected opportunity to trade their condos and move into townhomes in Fairfax County in Virginia, also driven by the ability to work from home. Whereas in King County, WA, the demand for single-family homes soared when the ever-increasing number of employees working for Apple and Amazon in Seattle realized they too could move further afield and leverage these companies’ “long term work from home” guarantee. Much has been stated in the real estate news about the relocation of homeowners out of the major metropolises, and Coldwell Banker Global Luxury’s report seeks to clarify each of the top seven markets in the US and five in Canada, to understand the true impact of the pandemic.
What may be surprising to many is that overall, the impact was not as dramatic as the initial reports in April, May, and June portrayed. Downtown and high-density areas did see their affluent depart for second homes or purchase homes in exurbia areas, but interestingly the percentage that sold their home was not as great as expected. Many kept their city home and merely swapped the location of their first home – at least until the pandemic is over. Several key trends did appear for those that sold, insomuch as the affluent upsized to larger apartments, with more square footage, private elevators, outdoor patios, and the ability to upgrade air filtration, while others chose to move into townhomes and/or slightly further away into the suburbs to purchase a single-family home. According to Wealth-X in their recent report, Residential Real Estate 2021: Leading Markets for the Wealthy, New York still remains the global preeminent city of the wealthy, with Los Angeles ranking second, followed by London, Hong Kong, and Paris. A recent new study, published by nonpartisan California Policy Lab, does show that San Francisco was impacted greatly with a staggering 649% jump in relocations. However, they quickly qualified that these relocators didn’t go very far, moving within the 11-county Bay Area, with over 80% remaining in California. As for the wealthy and the rumors of their departure from California, statistics show no indication of mass relocation. Joel Goodrich of Coldwell Banker Realty in San Francisco qualified that in his experience, the exodus outside of the Bay Area has mainly been to Napa, Sacramento, and Lake Tahoe. In Los Angeles, Jade Mills of Coldwell Banker Realty in Beverly Hills, shared that her clients were staying local although upsizing into larger properties and moving to areas such as Malibu, Manhattan Beach, and up into Beverly Hills rather than staying in the more densely populated areas of LA. Interestingly, her clientele has changed from 50% international to more than 80% being US buyers in the US$20 million range. Miami, another of the US’s wealthiest cities, has seen an upsurge in their numbers – again driven by US buyers rather than their typical international purchaser. Jill Eber of Coldwell Banker Realty in Miami shared, “single-family homes exploded initially, and condos took off once important amenities like pools were reopened and people became more comfortable with accessibility in the new normal.” The metropolitan cities of Canada saw similar trends with abrupt halts to their real estate markets in March, April and May, after which their luxury markets have seen significant increases in demand and pricing as well as falling inventory levels.
Downtown cores in Toronto and Vancouver did see their condo market take longer to recover, but larger properties throughout the metropolitan city areas and in more suburban areas saw unprecedented demand. Ottawa saw its luxury market’s median price point increase 25.53% for single-family homes and 4.71% for luxury condos, as Raymond Chin of Coldwell Banker First Ottawa Realty explained “homes a short drive outside the city became more popular with homeowners who may not be required to go back to work every day in the city.” Similar trends are being reported in Europe, Asia, and Central and South America, with high-net-worth buyers not only investing in popular vacation destinations, but choosing to make these residences their primary homes, for the foreseeable future. Equally, many of these buyers are tending to hold on to their urban residences, using them as second homes or pieds-à-terre, enjoying the opportunity to work from home in their new primary home locations. There are increasing reports of large compound style residences as well as crumbling chateaus, castles, and large private estates being repurposed to suit the affluent’s new requirements. Vacation locations from the Caribbean islands to ski resorts have seen robust price increases with some destination locales reporting homes being bought sight unseen. For homeowners looking to sell or buy their luxury home in today’s market, we recommend working with a luxury real estate professional who can provide you with critical knowledge about your local market, maintain a high level of security and safety during the process, and who knows how to leverage technology and strategies to provide maximum exposure and assistance.
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. 80
63
Days on Market
60
55
43
40
42
38
38
33
38
34 33
33
30
31
34
30
27
20
30
31
34 28
35
38
32
35
37
27
0 FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
$600
$376
$377
$388
$476
$488
$494
$370
$482
$500 $377
$378
$362
$457
$465
$499 $369
$472 $330
$448 $353
$340
$350
$300
$463
$486
$471
$400
$367
Price per Square Foot
$500
OCT
NOV
DEC
JAN
FEB
$200
$100
$0 FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
$1,900,000
Sales Price vs. List Price
$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
Luxury Monthly Market Review A Review of Key Market Differences Year over Year February 2020 | February 2021
Single-Family Homes Median List Price
Median Sale Price
Feb. 2021
$1,597,000
$1,749,000
97.07%
98.39%
$1,320,000
Median SP/LP Ratio Total Sales Ratio
Feb. 2020
Median Price per Sq. Ft.
13.12% $367
$1,364,442
45.12% $388
Total Inventory New Listings
Feb. 2020
Feb. 2021
43,204
23,745
5,669
10,593
3,613
3,544
12,030
Total Sold
Median Days on Market Average Home Size
63
7,528
Median prices represent properties priced above respective city benchmark prices.
19,459 New Listings
4,924 Total Sold
Med. Sale Price
Days on Market
Sales Ratio
44,442
$
31
32%
Single-Family Homes Market Summary | February 2021 •
Official Market Type: Seller's Market with a 45.12% Sales Ratio.1
•
Homes are selling for an average of 98.39% of list price.
•
The median luxury threshold2 price is $900,000, and the median luxury home sales price is $1,364,442.
•
Markets with the Highest Median Sales Price: Vail ($4,100,000), Los Angeles Beach Cities ($3,805,000), Oakville ($3,800,000), and Maui ($3,550,000).
•
Markets with the Highest Sales Ratio: Ada County (339%), GTA-Durham (325%), Austin (193%) and East Bay (164%). 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.
32
Luxury Monthly Market Review A Review of Key Market Differences Year over Year February 2020 | February 2021
Attached Homes Median List Price
Median Sale Price
Feb. 2021
$1,049,500
$1,057,500
98.08%
98.75%
$867,500
Median SP/LP Ratio Total Sales Ratio
Feb. 2020
Median Price per Sq. Ft.
14.68% $471
$887,000 29.14% $476
Total Inventory New Listings
Feb. 2020
Feb. 2021
16,619
12,581
2,440
3,666
4,476
Total Sold
Median Days on Market Average Home Size
54
2,032
3,566
1,950
Median prices represent properties priced above respective city benchmark prices.
910
1,226
New Listings
Total Sold
17
14.46%
Med. Sale Price
Days on Market
Sales Ratio
19,500
$
Attached Homes Market Summary | February 2021 •
Official Market Type: Seller's Market with a 23.14% Sales Ratio.1
•
Attached homes are selling for an average of 98.75% of list price.
•
The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $887,000.
•
Markets with the Highest Median Sales Price: Vail ($3,095,000), San Francisco ($2,275,000), Park City ($2,225,000), and Greater Boston ($2,000,000).
•
Markets with the Highest Sales Ratio: GTA-Durham (325%), Ada County (200%), GTA-York (165%) and Fairfax County (162%). 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.
37
Luxury Monthly Market Review Single-Family Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Calgary
$1,198,944
$999,900
444
239
135
27
Seller's
AZ
Paradise Valley
$4,247,500
$2,750,000
106
36
51
55
Seller's
AZ
Phoenix
$1,150,000
$795,000
189
85
220
40
Seller's
AZ
Scottsdale
$2,500,000
$1,655,000
311
97
192
54
Seller's
AZ
Tucson
$850,000
$658,500
321
107
166
13
Seller's
BC
Greater Victoria
$2,500,000
$2,350,000
43
19
9
56
Balanced
BC
Okanagan Valley
$1,800,000
$1,330,000
284
109
89
40
Seller's
BC
Vancouver
$4,689,000
$3,450,000
656
230
153
14
Seller's
CA
Central Coast
$4,200,000
$2,293,000
149
40
51
31
Seller's
CA
East Bay
$2,469,000
$1,855,000
157
115
257
8
Seller's
CA
Lake Tahoe
$2,988,000
$2,188,000
83
25
73
72
Seller's
CA
Los Angeles Beach Cities
$5,299,500
$3,805,000
348
106
88
48
Seller's
CA
Los Angeles City
$5,150,000
$3,535,000
745
223
111
48
Buyer's
CA
Los Angeles The Valley
$3,124,500
$2,040,000
282
116
123
22
Seller's
CA
Marin County
$4,500,000
$3,412,500
61
10
20
12
Seller's
CA
Napa County
$2,785,000
$2,255,000
74
4
6
84
Buyer's
CA
Orange County
$3,397,000
$2,275,000
626
186
295
21
Seller's
CA
Palm Springs/Palm Desert
$2,524,750
$1,543,500
180
53
131
54
Seller's
CA
Placer County
$1,175,000
$928,418
111
24
62
9
Seller's
CA
Sacramento
$963,500
$781,000
304
59
146
7
Seller's
CA
San Diego
$3,300,000
$1,855,050
419
141
289
14
Seller's
CA
San Francisco
$4,500,000
$3,455,000
80
19
54
12
Seller's
CA
San Luis Obispo County
$1,899,000
$1,465,000
84
21
41
N/A
Seller's
CA
Santa Barbara
$5,250,000
$3,127,500
121
43
54
33
Seller's
CA
Silicon Valley
$5,000,000
$3,200,000
276
134
204
9
Seller's
CA
Ventura County
$2,862,500
$1,697,500
128
57
62
25
Seller's
State
Market Name
AB
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Single-Family Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Boulder
$2,345,000
$1,725,000
126
28
50
57
Seller's
CO
Colorado Springs
$1,280,000
$927,500
73
28
40
10
Seller's
CO
Denver
$1,575,000
$990,000
260
120
339
6
Seller's
CO
Douglas County
$1,675,000
$1,033,224
81
29
92
5
Seller's
CO
Durango
$1,512,500
$1,055,000
54
8
9
119
Balanced
CO
Summit County
$3,722,500
$1,800,000
14
4
8
35
Seller's
CO
Vail
$6,695,000
$4,100,000
81
12
21
78
Seller's
CT
Central Connecticut
$699,900
$625,000
269
57
65
67
Seller's
CT
Coastal Connecticut
$2,350,000
$1,652,500
625
155
165
82
Seller's
DC
Washington D.C.
$5,100,000
$3,295,000
44
7
11
24
Seller's
FL
Boca Raton/Delray Beach
$2,990,000
$2,015,000
239
64
77
85
Seller's
FL
Coastal Pinellas Towns
$1,432,500
$1,490,000
30
9
11
64
Seller's
FL
Greater Fort Lauderdale
$1,749,000
$988,500
680
170
248
44
Seller's
FL
Jacksonville Beaches
$1,911,500
$1,200,000
56
19
42
28
Seller's
FL
Lee County
$1,699,000
$1,390,000
245
49
100
59
Seller's
FL
Miami
$1,499,000
$1,310,000
747
203
169
91
Seller's
FL
Naples
$2,995,000
$1,837,500
232
69
124
64
Seller's
FL
Orlando
$1,749,000
$1,400,000
261
55
83
70
Seller's
FL
Palm Beach Towns
$4,400,000
$2,937,500
123
33
40
107
Seller's
FL
Sarasota & Beaches
$1,734,000
$1,950,000
112
26
63
12
Seller's
FL
South Walton
$2,950,000
$2,070,000
113
28
52
26
Seller's
FL
Tampa
$975,000
$671,500
310
84
208
31
Seller's
FL
Weston
$1,350,000
$939,000
47
15
23
47
Seller's
GA
Atlanta
$1,385,000
$952,500
607
219
188
30
Seller's
HI
Island of Hawaii
$3,199,500
$1,632,500
94
24
36
24
Seller's
State
Market Name
CO
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Single-Family Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Kauai
$2,850,000
$1,899,500
84
20
14
40
Balanced
HI
Maui
$4,595,000
$3,550,000
125
22
29
130
Seller's
HI
Oahu
$3,697,500
$2,466,250
160
28
30
36
Balanced
ID
Ada County
$851,900
$689,000
38
38
129
3
Seller's
ID
Northern
$1,400,000
$967,901
93
38
60
57
Seller's
IL
Chicago
$1,549,000
$1,200,000
718
228
132
77
Balanced
IL
DuPage County
$1,175,000
$918,500
297
89
62
95
Balanced
IL
Lake County
$1,199,950
$845,000
326
90
65
107
Balanced
IL
Will County
$793,025
$587,500
139
26
46
33
Seller's
IN
Hamilton County
$949,900
$694,900
57
17
60
40
Seller's
MA
Greater Boston
$3,500,000
$2,802,000
89
38
21
44
Seller's
MD
Anne Arundel County
$1,100,000
$982,500
125
33
58
15
Seller's
MD
Montgomery County
$2,148,500
$1,465,000
106
29
67
7
Seller's
MD
Talbot County
$2,750,000
$1,650,000
37
5
9
65
Seller's
MD
Worcester County
$1,349,950
$985,000
34
12
6
58
Balanced
MI
Livingston County
$869,000
$900,000
37
6
5
93
Buyer's
MI
Monroe County
$685,250
$547,000
14
2
2
80
Buyer's
MI
Oakland County
$895,000
$640,000
441
162
155
24
Seller's
MI
Washtenaw County
$849,950
$689,000
102
31
19
50
Balanced
MI
Wayne County
$750,000
$615,000
163
37
42
21
Seller's
MO
St. Louis
$875,000
$675,000
75
14
49
35
Seller's
NC
Charlotte
$1,250,000
$797,000
298
98
196
16
Seller's
NC
Raleigh-Durham
$849,000
$654,900
351
126
265
2
Seller's
NJ
Ocean County
$895,000
$775,000
204
63
93
38
Seller's
NV
Las Vegas
$1,092,500
$755,000
442
167
360
28
Seller's
State
Market Name
HI
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Single-Family Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Reno
$2,349,900
$1,364,442
31
13
25
85
Seller's
NY
Brooklyn
$1,750,000
$1,432,497
249
42
16
67
Buyer's
NY
Nassau County
$1,895,000
$1,350,000
815
162
110
77
Buyer's
NY
Suffolk County
$1,600,000
$1,190,000
916
154
168
69
Balanced
ON
GTA - Durham
$1,699,450
$1,250,000
80
137
260
5
Seller's
ON
GTA - York
$2,688,000
$1,888,800
345
332
293
7
Seller's
ON
Oakville
$3,693,500
$3,800,000
50
30
3
16
Buyer's
ON
Toronto
$3,675,000
$3,100,000
223
181
157
10
Seller's
TN
Nashville
$1,239,950
$1,020,000
154
55
107
5
Seller's
TX
Austin
$1,572,500
$875,000
130
69
251
5
Seller's
TX
Collin County
$918,083
$710,000
152
65
184
10
Seller's
TX
Dallas
$1,150,000
$844,500
282
87
199
20
Seller's
TX
Denton County
$850,000
$725,000
125
49
113
19
Seller's
TX
Fort Worth
$1,108,750
$785,000
218
70
150
26
Seller's
TX
Houston
$850,000
$700,000
1,380
358
284
36
Balanced
TX
San Antonio
$937,500
$750,000
212
44
84
71
Seller's
TX
The Woodlands & Spring
$1,100,000
$679,724
191
60
83
21
Seller's
UT
Park City
$5,647,500
$3,423,803
74
21
32
16
Seller's
UT
Salt Lake City
$1,270,000
$1,025,000
78
31
93
50
Seller's
VA
Arlington & Alexandria
$2,199,000
$1,650,000
53
18
23
14
Seller's
VA
Fairfax County
$2,588,000
$1,511,500
231
59
88
19
Seller's
VA
McLean & Vienna
$2,797,500
$1,750,000
130
35
41
19
Seller's
VA
Richmond
$908,000
$735,000
137
38
43
6
Seller's
WA
Greater Seattle
$2,000,000
$1,601,500
463
148
382
6
Seller's
WA
Seattle
$2,200,000
$1,620,000
96
38
84
7
Seller's
State
Market Name
NV
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
$899,999
$752,500
75
31
7
19
Buyer's
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$875,000
$674,000
137
54
100
37
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Greater Victoria
$899,450
$997,450
72
38
4
24
Buyer's
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,989,000
$1,628,000
619
276
139
15
Seller's
CA
Central Coast
$1,395,000
$1,200,000
9
7
9
36
Seller's
CA
East Bay
$988,500
$990,000
80
39
69
7
Seller's
CA
Lake Tahoe
$1,985,000
$1,528,400
27
9
10
45
Seller's
CA
Los Angeles Beach Cities
$1,799,000
$1,599,000
161
46
41
23
Seller's
CA
Los Angeles City
$1,699,000
$1,367,500
341
105
52
29
Balanced
CA
Los Angeles The Valley
$875,000
$796,000
30
18
45
24
Seller's
CA
Marin County
$1,199,000
$1,062,500
17
3
6
53
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,185,662
$924,710
185
82
221
17
Seller's
CA
Palm Springs/Palm Desert
-
-
-
-
-
-
-
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,325,000
$855,000
265
113
217
20
Seller's
CA
San Francisco
$2,995,000
$2,275,000
95
26
31
33
Seller's
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Santa Barbara
$1,999,000
$1,649,000
17
1
9
92
Seller's
CA
Silicon Valley
$1,688,888
$1,565,000
69
33
67
8
Seller's
CA
Ventura County
$850,000
$734,000
29
15
37
33
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
$1,057,500
$925,000
56
19
27
90
Seller's
-
-
-
-
-
-
-
Denver
$804,950
$629,500
184
55
106
34
Seller's
CO
Douglas County
$575,000
$540,750
3
2
4
3
Seller's
CO
Durango
$925,000
$779,500
8
1
2
121
Seller's
CO
Summit County
$2,693,000
$1,284,950
2
0
2
11
Seller's
CO
Vail
$3,995,000
$3,095,000
87
11
6
147
Buyer's
CT
Central Connecticut
-
-
-
-
-
-
-
CT
Coastal Connecticut
$1,050,000
$720,000
180
28
27
104
Balanced
DC
Washington D.C.
$1,985,000
$1,561,250
186
55
60
18
Seller's
FL
Boca Raton/Delray Beach
$1,195,000
$915,000
290
65
77
57
Seller's
FL
Coastal Pinellas Towns
$927,000
$855,000
52
16
34
18
Seller's
FL
Greater Fort Lauderdale
$881,000
$875,000
996
166
124
71
Buyer's
FL
Jacksonville Beaches
$1,219,500
$887,000
14
6
10
24
Seller's
FL
Lee County
$910,500
$799,950
180
46
64
41
Seller's
FL
Miami
$1,095,000
$1,070,000
2,208
329
157
210
Buyer's
FL
Naples
$2,595,000
$1,987,500
125
31
64
65
Seller's
FL
Orlando
$799,000
$850,000
54
15
15
43
Seller's
FL
Palm Beach Towns
$1,797,500
$1,445,500
198
47
58
62
Seller's
FL
Sarasota & Beaches
$2,159,000
$1,550,000
155
44
75
27
Seller's
FL
South Walton
$1,250,070
$1,375,000
116
17
37
56
Seller's
FL
Tampa
$949,900
$652,500
64
21
36
29
Seller's
FL
Weston
-
-
-
-
-
-
-
GA
Atlanta
$676,000
$589,000
494
183
111
36
Seller's
HI
Island of Hawaii
$3,075,000
$1,420,000
28
5
22
31
Seller's
State
Market Name
CO
Boulder
CO
Colorado Springs
CO
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Kauai
$1,700,000
$1,055,000
63
12
16
16
Seller's
HI
Maui
$1,850,000
$1,700,000
111
23
25
77
Seller's
HI
Oahu
$1,545,000
$1,049,000
316
67
52
78
Balanced
ID
Ada County
$709,000
$581,500
5
1
10
32
Seller's
ID
Northern
-
-
-
-
-
-
-
IL
Chicago
$1,195,000
$908,803
893
237
104
108
Buyer's
IL
DuPage County
$714,900
$745,000
58
18
11
82
Balanced
IL
Lake County
-
-
-
-
-
-
-
IL
Will County
-
-
-
-
-
-
-
IN
Hamilton County
-
-
-
-
-
-
-
MA
Greater Boston
$2,349,000
$2,000,000
271
73
36
54
Buyer's
MD
Anne Arundel County
$619,995
$537,500
24
9
20
7
Seller's
MD
Montgomery County
$819,000
$690,000
131
37
71
9
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$699,900
$644,500
51
10
24
49
Seller's
MI
Livingston County
-
-
-
-
-
-
-
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$749,000
$617,000
69
23
11
38
Balanced
MI
Washtenaw County
$729,000
$537,500
49
18
4
44
Buyer's
MI
Wayne County
$689,000
$717,500
49
11
4
38
Buyer's
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$775,000
$596,000
141
41
52
43
Seller's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$692,000
$733,000
12
3
7
46
Seller's
NV
Las Vegas
-
-
-
-
-
-
-
State
Market Name
HI
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
-
-
-
-
-
-
-
Brooklyn
$1,388,000
$1,160,000
494
80
54
55
Buyer's
NY
Nassau County
$1,388,000
$1,145,000
131
24
19
143
Buyer's
NY
Suffolk County
$779,425
$610,000
104
29
32
62
Seller's
ON
GTA - Durham
$817,995
$725,500
8
5
26
4
Seller's
ON
GTA - York
$818,500
$720,000
66
81
109
11
Seller's
ON
Oakville
$2,274,500
$945,000
22
6
1
111
Buyer's
ON
Toronto
$1,359,000
$1,122,000
371
323
267
10
Seller's
TN
Nashville
$789,000
$702,280
105
31
21
33
Balanced
TX
Austin
$946,000
$655,000
124
41
61
45
Seller's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$969,900
$648,738
137
34
30
42
Seller's
TX
Denton County
-
-
-
-
-
-
-
TX
Fort Worth
-
-
-
-
-
-
-
TX
Houston
$675,000
$586,250
159
47
20
21
Buyer's
TX
San Antonio
$699,000
$701,250
46
3
8
163
Balanced
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$2,500,000
$2,225,000
79
15
23
40
Seller's
UT
Salt Lake City
$839,500
$623,780
32
9
31
70
Seller's
VA
Arlington & Alexandria
$1,234,900
$1,069,950
65
26
62
7
Seller's
VA
Fairfax County
$859,990
$690,000
100
44
162
5
Seller's
VA
McLean & Vienna
$1,367,000
$872,000
35
11
9
4
Seller's
VA
Richmond
-
-
-
-
-
-
-
WA
Greater Seattle
$1,176,567
$980,000
234
88
87
14
Seller's
WA
Seattle
$1,403,944
$1,205,000
118
28
15
84
Buyer's
State
Market Name
NV
Reno
NY
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 February 2021 and comparisons against February 2020. Predictions of a strong year for the Hawaiian Islands are holding true as once again luxury home sales continue to outpace the numbers purchased during the same period in 2020, for both the attached and detached markets. The number of sales for single family homes was 160% greater than last year and 67% greater for attached homes. Price points overall have also continued to rise in the luxury market with a 7% gain for single family homes and a 5% gain for attached properties. This increase in value is not only a result of increased sales, but also due to low inventory levels across all islands in both detached and attached markets; with levels at 61% and 74% lower respectively compared to February 2020. It is exciting to see the return of the attached luxury property market as, for the first time since the start of the pandemic, the number of sales continues to grow each month as well as being significantly higher in February 2021 when compared to February 2020. Maui’s luxury attached market shows the largest increase in demand with sales numbers 92% higher than February 2020, the Island of Hawaii shows an 83% increase, and Oahu and Kauai rose 58% and 45% respectively. With the exception of the Island of Hawaii, that showed a 67% decrease in inventory levels compared to last year, the other islands show an average 20% decline in attached property availability. The significant median price point increase of 18% for the Island of Hawaii bears out the importance of understanding the effects of high demand and low inventory levels. The median prices for attached homes on the other islands still remain slightly lower than average, but with the summer months just around the corner, speculation is that these will slowly climb in-line with visitor returns. The luxury single family market remains firmly in the hold of sellers as demand for these properties still exceeds new inventory coming into the marketplace. During February, Kauai saw an impressive 600% increase in sales when compared to February 2020 numbers, Maui saw a 222% increase and the Island of Hawaii and Oahu, 157% and 76% respectively. Inventory levels continue to fall month over month across all the islands and expectations are that they will remain low for the foreseeable future. For homeowners currently looking to sell, now is the time to work with your Corcoran Pacific agent to prepare the home so that it’s turnkey, as statistics show that demand for properties in Hawaii is projected to continue to increase, and fetch close to relatable asking prices. As always, a real estate expert familiar with local trends is the best resource to navigate a specific market.
March
2021
Kauai Hawaii
KAUAI
Single-Family Homes
Luxury Inventory vs. Sales | February 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,025,000 $6,000,000+ $5,400,000 - $5,999,999 $4,900,000 - $5,399,999 $4,400,000 - $4,899,999
0
Balanced Market
2 10
1
10
0
10
2 5
2
11
4 0 0 1 1
$1,400,000 - $1,499,999
1
17%
5
0
$1,600,000 - $1,799,999
$1,200,000 - $1,299,999
Total Sales Ratio2:
4
1
$1,800,000 - $2,199,999
$1,300,000 - $1,399,999
84
Total Sales: 14
$2,200,000 - $2,599,999
$1,500,000 - $1,599,999
Total Inventory:
1
0
$3,400,000 - $3,899,999
$2,600,000 - $2,999,999
3
0
$3,900,000 - $4,399,999
$3,000,000 - $3,399,999
14
2
3
0
5
1
Beds3
Price
DOM
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0-1 Bedrooms
NA
NA
NA
0
0
NA
2 Bedrooms
$11,500,000
31
3
1
12
8%
3 Bedrooms
$1,812,000
32
3
6
27
22%
4 Bedrooms
$1,787,500
51
5
4
27
15%
5 Bedrooms
$2,800,000
66
5
2
11
18%
6+ Bedrooms
$2,470,000
128
6
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.
KAUAI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$2,987,500
$2,834,500
$2,007,500 $1,550,000
$1,495,000
$1,700,000
$1,941,000
$1,875,000
101
97
94
90
$2,375,000 $1,899,500
$1,515,000
131 105
$2,187,500
$2,022,500
110
104
91
2
7
2
4
1
7
12
9
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
107
18
Oct-20
101
91
15
14
Nov-20
Dec-20
84 20
14
Jan-21
Feb-21
Median Data Review | February Total Inventory Feb. 2020
Total Solds
Feb. 2021
131
Feb. 2021
84 VARIANCE: -36 %
14 VARIANCE: 600 %
Sale Price Per SqFt.
Sale to List Price Ratio
Feb. 2020
$
Feb. 2020
2
Feb. 2021
600
698 VARIANCE: 16 % $
Feb. 2020
Feb. 2021
Sales Price Feb. 2020
$
2.83m
1.90m VARIANCE: -33 % $
Days on Market Feb. 2020
86.71%
95.21% VARIANCE: 10 %
69
Feb. 2021
40 VARIANCE: -42 %
Kauai Market Summary | February 2021 • The Kauai single-family luxury market is a Balanced Market with a 17% Sales Ratio. • Homes sold for a median of 95.21% of list price in February 2021.
• The most active price band is $1,400,000-$1,499,999, where the sales ratio is 100%. • The median luxury sales price for single-family homes is $1,899,500.
• The median days on market for February 2021 was 40 days, down from 69 in February 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
Feb. 2021
KAUAI
Attached Homes
Luxury Inventory vs. Sales | February 2021 Inventory
Sales
Luxury Benchmark Price 1: $850,000 $3,700,000+ $3,300,000 - $3,699,999
12
1 5
0
$2,900,000 - $3,299,999 $2,500,000 - $2,899,999
$2,200,000 - $2,499,999
$1,500,000 - $1,699,999
3 4
0
9
2
2
$950,000 - $999,999
3 5
2 1
5
1
2 2
$850,000 - $874,999
1
3
1
0
25%
3
0
$1,000,000 - $1,099,999
$875,000 - $899,999
Total Sales Ratio2:
2
$1,100,000 - $1,299,999
$900,000 - $949,999
Seller's Market
1
$1,300,000 - $1,499,999
83
Total Sales: 16
1
0
$1,900,000 - $2,199,999 $1,700,000 - $1,899,999
6
3
0
Total Inventory:
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
$1,008,000
17
3
7
27
26%
3 Bedrooms
$1,467,500
17
3
8
24
33%
4 Bedrooms
$5,680,000
0
5
1
5
20%
5 Bedrooms
NA
NA
NA
0
3
0%
6+ Bedrooms
NA
NA
NA
0
2
0%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
KAUAI
Attached Homes
13-Month Luxury Market Trend4 Sale Price
$1,100,000
$1,225,000
81
74
Solds
$1,300,000
$1,223,000
$1,125,000
$1,095,000 $900,000
79
Inventory
67
$992,500
$977,000
80
85
$1,055,000
$965,000
$925,004
86
$1,205,000
86
84
76
67
63
49 11
10
Feb-20
Mar-20
2
2
1
6
2
Apr-20
May-20
Jun-20
Jul-20
Aug-20
8
5
Sep-20
Oct-20
11
9
Nov-20
Dec-20
16
15
Jan-21
Feb-21
Median Data Review | February Total Inventory Feb. 2020
Total Solds
Feb. 2021
79
63 VARIANCE: -20 %
$
16 VARIANCE: 45 %
806 VARIANCE: 4 % $
Feb. 2020
$
1.10m
Sale to List Price Ratio
Feb. 2021
775
Feb. 2021
11
Sale Price Per SqFt. Feb. 2020
Feb. 2020
Sales Price
Feb. 2020
Feb. 2021
1.06m VARIANCE: -4 % $
Days on Market Feb. 2020
98.36%
98.04% VARIANCE: 0 %
80
Feb. 2021
16 VARIANCE: -80 %
Kauai Market Summary | February 2021 • The Kauai attached luxury market is a Seller's Market with a 25% Sales Ratio. • Homes sold for a median of 98.04% of list price in February 2021.
• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 150%. • The median luxury sales price for attached homes is $1,055,000.
• The median days on market for February 2021 was 16 days, down from 80 in February 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
Feb. 2021
March
2021
Oahu Hawaii
OAHU
Single-Family Homes
Luxury Inventory vs. Sales | February 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,875,000 $9,250,000+ $8,250,000 - $9,249,999 $7,250,000 - $8,249,999 $6,250,000 - $7,249,999
$5,450,000 - $6,249,999 $4,650,000 - $5,449,999
28
0 3
0
6
3
20
1 11
2
9
3
$2,250,000 - $2,449,999
$1,875,000 - $1,949,999
1
19
5
$2,450,000 - $2,649,999
19%
12
$2,650,000 - $3,049,999
$1,950,000 - $2,049,999
Total Sales Ratio2:
5
1
$3,050,000 - $3,449,999
$2,050,000 - $2,249,999
Balanced Market
10
0 1
160
Total Sales: 30
4
0
$4,050,000 - $4,649,999 $3,450,000 - $4,049,999
Total Inventory:
13
5 5
1
9
4 4
6
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$2,350,000
4
3
6
28
21%
3,000 - 3,999
$2,000,000
4
3
11
36
31%
4,000 - 4,999
$2,335,000
4
5
7
32
22%
5,000 - 5,999
$4,550,000
5
5
3
27
11%
6,000 - 6,999
$4,500,000
5
6
1
7
14%
7,000+
$4,041,250
5
7
2
29
7%
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
$2,890,000
$2,613,000 $2,300,000
253
$3,000,000 $2,600,000
Inventory
$2,725,000
Solds
$2,900,000 $2,425,000
$2,100,500
242
239
234
225
17
13
10
11
Feb-20
Mar-20
Apr-20
May-20
234
11 Jun-20
213
21 Jul-20
209
207
23
27
Aug-20
Sep-20
$2,468,000
$2,345,000
203
164
26
37
Nov-20
Dec-20
24 Oct-20
194
$2,466,250
$2,437,500
160 30
26
Jan-21
Feb-21
Median Data Review | February Total Inventory Feb. 2020
Total Solds
Feb. 2021
253
160 VARIANCE: -37 %
$
30 VARIANCE: 76 %
713 VARIANCE: -7 % $
Feb. 2020
$
2.61m
Feb. 2020
Feb. 2021
$
Days on Market Feb. 2020
94.83%
98.39% VARIANCE: 4 %
134
Feb. 2021
36 VARIANCE: -73 %
Oahu Market Summary | February 2021 • The Oahu single-family luxury market is a Balanced Market with a 19% Sales Ratio. • Homes sold for a median of 98.39% of list price in February 2021. • The most active price band is $1,875,000-$1,949,999, where the sales ratio is 67%. • The median luxury sales price for single-family homes is $2,466,250. • The median days on market for February 2021 was 36 days, down from 134 in February 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
Feb. 2021
2.47m VARIANCE: -6 %
Sale to List Price Ratio
Feb. 2021
766
Feb. 2021
17
Sale Price Per SqFt. Feb. 2020
Feb. 2020
Sales Price
OAHU
Attached Homes
Luxury Inventory vs. Sales | February 2021 Inventory
Sales
Luxury Benchmark Price 1: $835,000 $7,100,000+ $6,100,000 - $7,099,999
$3,900,000 - $4,499,999 $3,300,000 - $3,899,999 $2,700,000 - $3,299,999
5
0
$5,300,000 - $6,099,999 $4,500,000 - $5,299,999
$1,600,000 - $1,899,999 $1,300,000 - $1,599,999
Total Inventory: 8
1
Total Sales Ratio2:
6
8
1
26
2
29
1
30
2
32
2
37
11 20
6
$900,000 - $999,999
41
10
$835,000 - $899,999
1
16%
18
1
$1,100,000 - $1,299,999
$1,000,000 - $1,099,999
Balanced Market
16
1
316
Total Sales: 52
0
$2,300,000 - $2,699,999
$1,900,000 - $2,299,999
7
1
33
13
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,037,500
0
1
6
77
8%
1,000 - 1,499
$937,000
2
2
22
103
21%
1,500 - 1,999
$1,230,000
3
3
10
55
18%
2,000 - 2,499
$998,500
3
3
7
40
18%
2,500 - 2,999
$1,875,000
3
3
5
12
42%
3,000+
$6,450,000
4
5
2
29
7%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
OAHU
Attached Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$1,417,500
$1,210,000
$1,225,000 $1,075,000
393
390
$949,000
$937,500
375
384
37
31
14
Feb-20
Mar-20
Apr-20
May-20
$1,167,500
420
415
33
$1,045,000
21 Jun-20
$980,829
418
22 Jul-20
409
409
22
30
Aug-20
Sep-20
$1,030,000
$999,998
398
Oct-20
345
316
304
31
34
Nov-20
Dec-20
24
$1,049,000
$995,000
52
27 Jan-21
Feb-21
Median Data Review | February Total Inventory Feb. 2020
Total Solds
Feb. 2021
393
316 VARIANCE: -20 %
$
52 VARIANCE: 58 %
803 VARIANCE: -10 % $
Feb. 2020
$
1.21m
Sale to List Price Ratio
Feb. 2021
888
Feb. 2021
33
Sale Price Per SqFt. Feb. 2020
Feb. 2020
Sales Price
Feb. 2020
Feb. 2021
Feb. 2021
1.05m VARIANCE: -13 % $
Days on Market Feb. 2020
96.80%
98.75% VARIANCE: 2 %
Feb. 2021
78
78 VARIANCE: 0 %
Oahu Market Summary | February 2021 • The Oahu attached luxury market is a Balanced Market with a 16% Sales Ratio. • Homes sold for a median of 98.75% of list price in February 2021. • The most active price band is $835,000-$899,999, where the sales ratio is 39%. • The median luxury sales price for attached homes is $1,049,000. • The median days on market for February 2021 was 78 days, remaining the same from February 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
March
2021
Maui Hawaii
MAUI
Single-Family Homes
Luxury Inventory vs. Sales | February 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,422,000 $7,000,000+ $6,000,000 - $6,999,999
8
0
$5,000,000 - $5,999,999 $4,500,000 - $4,999,999
35
4
11
2
$3,500,000 - $3,999,999
10
14
2
$2,000,000 - $2,499,999
12
4
$1,900,000 - $1,999,999
3
1
$1,800,000 - $1,899,999
4
2
$1,700,000 - $1,799,999
1
$1,600,000 - $1,699,999
2
2 0
22%
7
2
$2,500,000 - $2,999,999
1
Total Sales Ratio2: 6
$3,000,000 - $3,499,999
$1,422,000 - $1,499,999
Seller's Market
5
3
129
Total Sales: 28
9
0
$4,000,000 - $4,499,999
$1,500,000 - $1,599,999
Total Inventory:
3
2
0 0
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$3,325,000
2
2
6
20
30%
2,000 - 2,999
$3,599,000
3
3
7
26
27%
3,000 - 3,999
$3,150,500
4
4
12
28
43%
4,000 - 4,999
$2,350,000
5
5
2
17
12%
5,000 - 5,999
$15,750,000
4
6
1
15
7%
6,000+
$10,900,000
4
5
1
19
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.
MAUI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds $3,550,000
$2,450,000
$2,750,000 $2,311,200 $1,820,000
213
181
$1,990,000
180
172
168
$1,995,000
$2,275,000 $1,825,000
173
$1,999,999
173
164
$2,025,000
15
13
11
9
9
21
15
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
$2,112,000
182
173
9
$2,262,500
129
26
27
Nov-20
Dec-20
20 Oct-20
157
125 29
28 Jan-21
Feb-21
Median Data Review | February Total Inventory Feb. 2020
Total Solds
Feb. 2021
213
Feb. 2021
125 VARIANCE: -41 %
29 VARIANCE: 222 %
Sale Price Per SqFt.
Sale to List Price Ratio
Feb. 2020
$
Feb. 2020
862
9
Feb. 2021
1,060 VARIANCE: 23 % $
Feb. 2020
Feb. 2021
Sales Price Feb. 2020
$
2.45m
Feb. 2021
3.55m VARIANCE: 45 % $
Days on Market Feb. 2020
98.25%
95.71% VARIANCE: -3 %
143
130 VARIANCE: -9 %
Maui Market Summary | February 2021 • The Maui single-family luxury market is a Seller's Market with a 23% Sales Ratio. • Homes sold for a median of 95.71% of list price in February 2021. • The most active price band is $1,600,000-$1,699,999, where the sales ratio is 67%. • The median luxury sales price for single-family homes is $3,550,000. • The median days on market for February 2021 was 130 days, down from 143 in February 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
Feb. 2021
MAUI
Attached Homes
Luxury Inventory vs. Sales | February 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,183,200 $4,000,000+ $3,000,000 - $3,999,999 1
$2,000,000 - $2,499,999
3
$1,600,000 - $1,699,999
$1,500,000 - $1,599,999
1
6
1 7
1
$1,300,000 - $1,349,999
$1,183,200 - $1,249,999
23%
4
1
5
3
$1,250,000 - $1,299,999
Seller's Market
5
3
$1,350,000 - $1,399,999
9
6
2
0
Total Sales: 25
7
1
$1,450,000 - $1,499,999
9
111
Total Sales Ratio2:
1
$1,700,000 - $1,799,999
Total Inventory:
2
0
$1,800,000 - $1,899,999
$1,400,000 - $1,449,999
9
4
$2,500,000 - $2,999,999
$1,900,000 - $1,999,999
23
3
4
2
14
0
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,375,000
2
2
3
17
18%
1,000 - 1,499
$1,575,000
2
2
7
42
17%
1,500 - 1,999
$1,650,000
2
3
9
17
53%
2,000 - 2,499
$3,600,000
3
4
3
12
25%
2,500 - 2,999
$3,575,000
3
4
3
20
15%
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
$2,275,000
$2,207,250
$1,980,000
$2,120,000
$2,370,000
$2,205,000
$1,495,000
141
Solds
$1,900,000
$1,445,000
140
Inventory
127
$1,475,000
13
24
21
9
8
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
$1,700,000
174 115
31
15
176
172
151
147
136
117
116
$1,800,000 $1,500,000
Aug-20
Sep-20
Oct-20
37
21
20
9
Nov-20
111 25
15
Dec-20
Jan-21
Feb-21
Median Data Review | February Total Inventory Feb. 2020
Total Solds
Feb. 2021
140
111 VARIANCE: -21 %
$
1,264
25 VARIANCE: 92 %
Feb. 2020
$
1.45m
1,257 VARIANCE: -1 %
Feb. 2020
Feb. 2021
Feb. 2021
1.70m VARIANCE: 18 %
Sale to List Price Ratio
Feb. 2021
$
Feb. 2021
13
Sale Price Per SqFt. Feb. 2020
Feb. 2020
Sales Price $
Days on Market Feb. 2020
95.85%
98.50% VARIANCE: 3 %
110
77 VARIANCE: -30 %
Maui Market Summary | February 2021 • The Maui attached luxury market is a Seller's Market with a 23% Sales Ratio. • Homes sold for a median of 98.50% of list price in February 2021. • The most active price band is $1,300,000-$1,349,999, where the sales ratio is 60%. • The median luxury sales price for attached homes is $1,700,000. • The median days on market for February 2021 was 77 days, down from 110 in February 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
Feb. 2021
March
2021
Island of Hawaii
ISLAND OF HAWAII
Single-Family Homes
Luxury Inventory vs. Sales | February 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,075,000 $10,000,000+ $8,600,000 - $9,999,999 $7,400,000 - $8,599,999
5
0
Total Inventory:
4
0
$6,200,000 - $7,399,999
1
$4,400,000 - $5,199,999
6
Seller's Market
6
Total Sales Ratio2:
6
2
$3,000,000 - $3,599,999
5
1
$2,600,000 - $2,999,999
9
3 7
0
$1,900,000 - $2,199,999
6
2
$1,600,000 - $1,899,999
5
3 3
$1,400,000 - $1,599,999
5
$1,200,000 - $1,399,999
11
8
4
$1,075,000 - $1,199,999
1
38%
7
2
$3,600,000 - $4,399,999
94
Total Sales: 36
1
$5,200,000 - $6,199,999
$2,200,000 - $2,599,999
10
3
5
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,345,000
3
3
16
28
57%
3,000 - 3,999
$2,700,000
4
5
5
15
33%
4,000 - 4,999
$5,400,000
5
6
1
8
13%
5,000 - 5,999
$7,325,000
4
5
1
9
11%
6,000 - 6,999
$10,629,500
5
8
2
4
50%
7,000+
$16,300,000
7
9
1
4
25%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
ISLAND OF HAWAII
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$2,025,000
$1,798,750
$1,650,000
$1,569,500 $1,320,000
$1,750,000
$1,632,500
$1,595,000
$1,497,000
$1,250,000 165
160
$1,487,500
$1,780,000 $1,600,000
156
149
144
14
14
12
10
Feb-20
Mar-20
Apr-20
May-20
138
14
Jun-20
21
Jul-20
143
141
133
18
28
Aug-20
Sep-20
132
109
47
29
22 Oct-20
122
Nov-20
94 36
31
Dec-20
Jan-21
Feb-21
Median Data Review | February Total Inventory Feb. 2020
Feb. 2021
160
Feb. 2020
Feb. 2021
94 VARIANCE: -41 %
36 VARIANCE: 157 %
Sale Price Per SqFt.
Sale to List Price Ratio
Feb. 2020
$
Total Solds
Feb. 2021
438
724 VARIANCE: 65 % $
14
Feb. 2020
Feb. 2021
97.38%
98.27% VARIANCE: 1 %
Sales Price Feb. 2020
$
1.32m
1.63m VARIANCE: 24 % $
Days on Market Feb. 2020
45
Feb. 2021
24 VARIANCE: -47 %
Island of Hawaii Market Summary | February 2021 • The Island of Hawaii single-family luxury market is a Seller's Market with a 38% Sales Ratio. • Homes sold for a median of 98.27% of list price in February 2021. • The most active price band is $1,400,000-$1,599,999, where the sales ratio is 167%. • The median luxury sales price for single-family homes is $1,632,500. • The median days on market for February 2021 was 24 days, down from 45 in February 2020.
3
Feb. 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.
ISLAND OF HAWAII
Attached Homes
Luxury Inventory vs. Sales | February 2021 Inventory
Sales
Luxury Benchmark Price 1: $925,000 $4,500,000+ $4,000,000 - $4,499,999
0 0
$3,500,000 - $3,999,999 $3,100,000 - $3,499,999
4
1
6
1 4
0
$2,700,000 - $3,099,999 $2,400,000 - $2,699,999
0
$2,100,000 - $2,399,999
0
Total Sales: 22 Seller's Market
2
Total Sales Ratio2: 79%
1
$1,800,000 - $2,099,999
4
2
$1,600,000 - $1,799,999
4
2
$1,400,000 - $1,599,999
0
$1,300,000 - $1,399,999
0
1 2 1 1
$1,200,000 - $1,299,999
1
$1,100,000 - $1,199,999 $1,000,000 - $1,099,999
3
0
2
3 3
$925,000 - $999,999
1
Total Inventory: 28
1 1
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,790,000
1
1
1
2
50%
1,000 - 1,499
$1,875,000
2
3
1
3
33%
1,500 - 1,999
$1,165,000
3
3
6
10
60%
2,000 - 2,499
$1,287,500
3
4
6
4
150%
2,500 - 2,999
$2,400,000
3
4
1
1
100%
3,000+
$4,525,000
6
5
2
5
40%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
ISLAND OF HAWAII
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
Solds $2,975,000
$2,285,000
$1,200,000 86
$1,315,000
$1,117,050
84
$2,222,500 $1,850,000
92
87
82
69
12
9
5
5
Feb-20
Mar-20
Apr-20
May-20
$1,750,000
$1,480,000
$1,395,000
94
84
$2,099,500
79
6
8
13
9
Jun-20
Jul-20
Aug-20
Sep-20
$1,420,000
$1,300,000
69 19
Oct-20
66 42
27
13 Nov-20
28
24
Dec-20
Jan-21
22
Feb-21
Median Data Review | February Total Inventory Feb. 2020
Feb. 2021
86
28 VARIANCE: -67 % Sale Price Per SqFt. Feb. 2020
$
Feb. 2021
585
673 VARIANCE: 15 % $
Total Solds Feb. 2020
Feb. 2021
12
22 VARIANCE: 83 %
Sale to List Price Ratio Feb. 2020
Feb. 2021
98.15%
98.17% VARIANCE: 0 %
Sales Price Feb. 2020
$
1.20m
1.42m VARIANCE: 18 % $
Days on Market Feb. 2020
80
Feb. 2021
31 VARIANCE: -61 %
Island of Hawaii Market Summary | February 2021 • The Island of Hawaii attached luxury market is a Seller's Market with a 79% Sales Ratio. • Homes sold for a median of 98.17% of list price in February 2021. • The most active price band is $1,100,000-$1,199,999, where the sales ratio is 300%. • The median luxury sales price for attached homes is $1,420,000. • The median days on market for February 2021 was 31 days, down from 80 in February 2020.
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Feb. 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.
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