KAUAI
|
OAHU
|
MAUI
|
HAWAII ISLAND
Luxury Market Report Hawaii, December 2021
About Corcoran Pacific Properties Corcoran Pacific Properties, the exclusive Hawaii franchisee of The Corcoran Group, is a locally owned and operated company, founded in 2005 with a simple philosophy: treating every client as a friend, and every transaction as if it was our own. Over the past 15+ years, honoring this philosophy, we established a culture of service and efficiency fueled by high-tech, smart investments in agents, and the tools they need to deliver world-class service while helping clients achieve their real estate goals. By choosing only the most successful, experienced real estate professionals and dedicating every resource to support their success, we’ve grown to be the brokerage of choice serving Kauai, Oahu, Maui and Hawaii Island. With our clients at the heart of our business, Corcoran Pacific Properties is dedicated to excellence, innovation and to continuously raising the bar when it comes to impeccable service, expert insight and a relationship-first approach.
©2020 Corcoran Pacific Properties. All rights reserved. Corcoran® and the Corcoran Logo are registered service marks owned by Corcoran Group LLC. Corcoran Pacific Properties fully supports the principles ofthe Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated.
At Corcoran Pacific Properties, we dream big. We know that luxury is not a price point, but an experience. Through our commitment to providing first-class support for our 250+ award-winning real estate professionals, we deliver a distinctive and authentic experience to our agents, employees and clients, helping people find the lifestyle they seek. Anton Steenman President & CEO
OAHU OFFICES Kahala Office
4211 Waialae Ave. Suite 106 Honolulu, HI 96816 (800) 315-3898
Kailua Office
419-B Kuulei Rd. Kailua, HI 96816 (800) 315-3898
MAUI OFFICES Wailea Office
34 Wailea Gateway Pl. Suite A-204 Kihei, HI 96753 (800) 315-3898
Mililani Office 95-1249 Meheula Parkway, Suite No. A-5 Mililani, HI 96789 (808) 589-2040
KAUAI OFFICES Lahaina Office
75 Kupuohi St. Suite 203 Lahaina, HI 96761 (800) 315-3898
Koloa Office
Princeville Office
Mauna Lani Portfolio
Waimea Office
3417 Poipu Rd. Suite 110B Koloa, HI 96756 (800) 315-3898
5-4280 Kuhio Hwy. Suite B-103 Princeville, HI 96722 (800) 315-3898
HAWAII ISLAND OFFICES Hilo Office
64 Keawe St. Suite 203 Hilo, HI 96720 (800) 315-3898
Kona Office
Walua Professional Bldg. 75-5905 Walua Rd. Suite 9 Kailua-Kona, HI 96740 (800) 315-3898
Mauna Lani Auberge Resort 68-1400 Mauna Lani Dr, Suite 108 Waimea, HI 96743 (800) 315-3898
65-1291 Kawaihae Rd. Suite 101 C Kamuela, HI 96743 (800) 315-3898
Table of Contents Page 5
Luxury Report Explained
Page 6
Welcome Message
Page 7-10
North American Luxury Market Review
Page 11
13-Month Market Trends
Page 12
Single-Family Homes Monthly Overview
Page 13
Attached Homes Monthly Overview
Page 23
Hawaii Luxury Market Review
Page 24
Kauai Market review
Page 29
Oahu Market Review
Page 34
Maui Market Review
Page 39
Island of Hawaii Market Review
Page 44
Thank You
Luxury Report Explained The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and 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 'Tis the Season! The holiday season is now truly upon us and that time old question “what do you buy someone who has everything?” is very common among the wealthy. If you are hoping that we will reveal the best gifts for 2021, then our apologies, but this dilemma does highlight some very important changes in the priorities of the affluent that have occurred over the last year, particularly in western societies. In the last year, there has been a shift in consumer expectations, with travel, adventures and experiences limited, the demand for luxury products produced a V-shaped recovery in 2021, similar to the stock market in 2020. According to a recent report from Bain & Company, after a sharp contraction in 2020, the personal luxury goods market has grown by 29% in 2021, and currently 1% higher than 2019 figures. Bain also predicts that this market will see a sustained growth of 6-8% annually over the next 4 years. More importantly, suppliers of these luxury goods have recognized that today’s affluent, especially the younger generation (Millennials and Gen Y), have very different expectations. No longer is a ‘brand’ purchase about being a status symbol of wealth and exclusivity, but instead it needs to be one that projects a social and sustainable consciousness. Luxury consumers have become more environmentally aware over the last year; yet another example of how COVID-19 has accelerated a burgeoning trend (other trends include working from home, e-commerce, and multiple home ownership).
Aspiring to buy quality, sustainable products, purchasers look to appreciate both the experience and potential resale value. In doing so, they mainly seek to align themselves with companies/brands that endorse real action and responsibility towards sustainability, as well as social and cultural change. There has also been a substantial growth of those willing to pay a premium, especially if the product has a real purpose and can add value to their lives, which has resulted in the affluent becoming an even stronger voice of influence. The luxury industry has been evaluating how to integrate sustainability into their processes and products, and expectations are that the affluent’s ever growing social and environmental concerns will force them to become more transparent. Consumers have also led their own charge; the rise of the second-hand luxury market soared in 2021, from clothing and accessories to cars and art, as the affluent sought to spend their money on products that offered them a sense of fulfilment and added to their feeling of wellness. The movement of second-hand goods is not new, but a 65% growth over the last 5 years is a phenomenon. In 2021, this was further driven by the ability to purchase, trade, and attend an auction online or virtually, especially in situations where regular shops were not open or difficult to access. Bain & Company also predict that younger consumers will make up to 70% of the purchasers of personal luxury goods by 2025, with the US and China showing the largest growth, and new players Dubai and Saudi Arabia adding an unexpected increase in demand. These changes in priorities were also reflected in the real estate choices of the affluent in 2021. In hindsight, the exodus of 2020 was truly about the financial ability to ‘escape’ from metropolitan or high populated areas, rather than finding a home that would necessarily meet long-term priorities. Whereas buyers in 2021 had the time to assess the potential impacts of COVID-19 on their
future lifestyles, and so were able to be more purposeful in their choices. People not only sought superior homes with large spaces and multiple rooms but homes that gave an authenticity to their lifestyle values. Equally, location and property types and sizes were no longer their only considerations. An increased knowledge on the importance of achieving more well-being, deeper consciousness, and cultural relevance, that would ultimately empower them to make ethical decisions, became important motivators for affluent buyers. This was clearly reflected in the demand and absorption rate of homes that offered more sustainable, environmental, and wellness functionality within their luxurious interiors and exteriors. These properties not only sold within days of appearing on the market but were often the subject of multiple offers and over-asking price offers in 2021. Luxury homes have always offered superior value and had the ability to connect at an emotional level, however, new emotive trends appeared during 2021. Buyers’ choices included buying a home that either catered for their extended family or were located within an easier travelling distance. Families that moved to rural locations decided to stay, finding that the quieter and smaller communities suited their new lifestyles. Others chose to move back closer to the city, but in their unwillingness to give up their newfound space, looked at larger properties in the suburbs that also provided an easy commute. In addition, there was an uptick in families becoming more involved in their local communities, not just from a social aspect, but more importantly from a sustainability and diversification context. People have recognized the need to refocus their values, to evolve and adapt within this changing societal landscape. Coming back to our seasonal opening of finding a gift for “the person who has everything,” one of the most significant trends in 2021 was the world of interactive innovations; the growth and diversity of technology, immersive and experience-related products could provide some inspiration!
While the youth may be leading the purchase of luxury products in the online market, the purchase of luxury homes is still controlled by Gen-X and Baby Boomers. However, and interestingly, many of these transactions were completed remotely. Once again, the pandemic accelerated a trend; digital processes already in place have now become the norm rather than the exception. According to a recent report by Luxury Portfolio International, the affluent have become very savvy in the use of technology, not only in viewing potential properties online, but throughout all aspects of the sale. The report states that 40% of the global affluent buyers polled would now purchase a home without physically visiting it first. Technology and platforms that make processes efficient and effective as well as interactive are now very much part of the real estate experience. However, while technology is important, 87% stated (and 8% where unsure) that they would still use a luxury professional to guide them through the process. After all, personal service, local knowledge, industry contacts and the art of negotiation are ultimately the most important aspects of buying or selling a property, and ones that cannot be replaced by a digital platform. In conclusion, 2021 may not have been the easiest year and the world still faces many uncertainties from the pandemic, environmentally, economically as well as politically, but there are bright spots as these challenges are now refocusing how, not just the affluent, but people in general are recognizing the need for social and environment change. 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
31
35
36
34
37
34
32
31
18
20
21
11
10
10
14
0 NOV
DEC
JAN
FEB
MAR
12
APR
JUN
JUL
15
14
16
14
12
MAY
14
12
16
10
14
12
AUG
SEP
OCT
NOV
SEP
OCT
$432
$505
$520 $417
$490
$546 $427
JUN
$406
MAY
$390
$408
$502
$528
$406
$508
$513
$386
$398
$488
$494 $392
$376
$300
$497
$484 $389
$400
$487
$500
$368
Price per Square Foot
$600
$200
$100
$0 NOV
DEC
JAN
FEB
MAR
APR
JUL
AUG
NOV
Sales Price vs. List Price
$1,900,000 $1,700,000 $1,500,000 $1,300,000 $1,100,000 $900,000 $700,000 $500,000 NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
Discrepancies in previous month statistics between the November 2021 and December 2021 reports are due to the addition of Mid Vancouver Island, BC; Duluth, GA; Olmsted County, MN; Twin Cities, MN; and San Angelo, TX.
Luxury Monthly Market Review A Review of Key Market Differences Year over Year November 2020 | November 2021
Single-Family Homes November 2020
Median List Price
Median Sale Price Total Sales Ratio
$1,614,500
$1,812,475
97.89%
100.00%
$1,300,152
Median SP/LP Ratio Median Price per Sq. Ft.
November 2021
31.86% $368
$1,342,500
63.47% $432
November 2020
November 2021
Total Inventory
37,010
25,018
Total Sold
11,791
15,880
3,723
3,371
New Listings
8,086
Median Days on Market Average Home Size
31
7,236 14
Median prices represent properties priced above respective city benchmark prices.
850
4,089
New Listings
Total Sold
17
31.61%
Med. Sale Price
Days on Market
Sales Ratio
42,348
$
Single-Family homes market summary | November 2021 •
Official Market Type: Seller's Market with a 63.47% Sales Ratio.1
•
Homes are selling for an average of 100.00% of list price.
•
The median luxury threshold2 price is $937,500, and the median luxury home sales price is $1,342,500.
•
Markets with the Highest Median Sales Price: Palm Beach Towns ($4,500,000), Los Angeles Beach Cities ($4,037,500), Los Angeles City ($3,550,000), and Vail ($3,595,000).
•
Markets with the Highest Sales Ratio: East Bay (124%), Sacramento (89%), Northern Idaho (83%) and Austin (80%). 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 November 2020 | November 2021
Attached Homes November 2020
Median List Price
Median Sale Price Total Sales Ratio
$964,500
$1,189,676
98.55%
100.00%
$892,028
Median SP/LP Ratio Median Price per Sq. Ft.
November 2021
19.80% $487
$880,000 49.65% $505
November 2020
Total Inventory New Listings
November 2021
16,841
10,004
3,335
4,967
3,601
Total Sold
Median Days on Market Average Home Size
31
2,038
3,171 14
1,936
Median prices represent properties priced above respective city benchmark prices.
430
New Listings
1,632 Total Sold
Med. Sale Price
Days on Market
12,028
$
17
29.85% Sales Ratio
Attached homes Market Summary | November 2021 •
Official Market Type: Seller's Market with a 49.65% 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 $880,000.
•
Markets with the Highest Median Sales Price: Vail ($2,700,000), Park City ($2,615,000), San Francisco ($2,300,000), and Maui ($2,275,000).
•
Markets with the Highest Sales Ratio: Lake Tahoe, NV (350%), GTA-Durham (269%), Summit County (100%) and Anne Arundel County (91%). 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
$1,180,000
$994,500
485
120
74
50
Balanced
AZ
Paradise Valley
$3,597,500
$2,745,000
164
25
36
69
Seller's
AZ
Phoenix
$1,050,000
$749,900
289
86
197
39
Seller's
AZ
Scottsdale
$2,199,000
$1,539,000
465
121
147
53
Seller's
AZ
Tucson
$799,000
$650,000
454
97
170
10
Seller's
BC
Mid Vancouver Island
$1,549,000
$1,482,000
37
15
17
57
Seller's
BC
Okanagan Valley
$1,810,000
$1,530,000
310
57
53
60
Balanced
BC
Vancouver
$4,198,000
$3,324,000
891
190
112
31
Buyer's
BC
Victoria
$2,375,000
$2,000,000
97
33
33
51
Seller's
CA
Central Coast
$3,295,000
$2,100,000
217
54
26
4
Buyer's
CA
East Bay
$2,398,000
$1,847,500
283
106
350
8
Seller's
CA
Greater Palm Springs
$2,350,000
$1,600,000
304
80
85
42
Seller's
CA
Lake Tahoe
$2,425,000
$1,875,000
104
22
52
34
Seller's
CA
Los Angeles Beach Cities
$5,197,500
$4,037,500
452
96
80
57
Balanced
CA
Los Angeles City
$4,869,000
$3,550,000
926
206
129
28
Buyer's
CA
Los Angeles The Valley
$2,795,000
$2,077,500
378
116
158
27
Seller's
CA
Marin County
$3,850,000
$2,862,500
109
16
56
27
Seller's
CA
Napa County
$2,995,000
$3,190,000
124
17
12
70
Buyer's
CA
Orange County
$2,999,500
$2,200,000
861
208
430
27
Seller's
CA
Placer County
$1,299,000
$1,108,750
119
36
62
21
Seller's
CA
Sacramento
$1,149,900
$899,000
246
77
219
9
Seller's
CA
San Diego
$2,884,000
$1,850,000
682
181
317
20
Seller's
CA
San Francisco
$4,499,400
$3,380,000
100
20
56
20
Seller's
CA
San Luis Obispo County
$1,675,000
$1,301,305
145
29
4
N/A
Buyer's
CA
Santa Barbara
$4,250,000
$3,000,000
185
46
59
17
Seller's
CA
Silicon Valley
$4,195,000
$3,205,000
237
80
173
9
Seller's
CA
Sonoma County
$1,798,500
$1,686,750
138
36
44
32
Seller's
CA
Ventura County
$2,600,000
$1,662,000
175
42
94
37
Seller's
CO
Boulder
$2,150,000
$1,567,000
231
40
88
78
Seller's
CO
Colorado Springs
$1,225,360
$835,000
127
35
74
20
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
Denver
$1,699,000
$1,317,000
305
50
189
21
Seller's
CO
Douglas County
$1,599,000
$1,251,500
129
15
62
43
Seller's
CO
Durango
$1,500,000
$1,102,500
63
7
20
99
Seller's
CO
Summit County
$1,975,000
$2,482,500
16
7
6
5
Seller's
CO
Vail
$5,495,000
$3,395,000
88
9
15
124
Balanced
CT
Central Connecticut
$675,000
$604,475
384
60
100
30
Seller's
CT
Coastal Connecticut
$2,200,000
$1,568,750
833
121
202
69
Seller's
DC
Washington D.C.
$4,750,000
$2,327,500
56
12
10
6
Balanced
DE
Sussex County Coastal
$1,499,950
$1,460,000
138
20
36
19
Seller's
FL
Boca Raton/Delray Beach
$2,795,000
$1,987,500
368
61
74
54
Balanced
FL
Coastal Pinellas County
$1,850,000
$1,575,000
76
17
13
15
Balanced
FL
Greater Fort Lauderdale
$1,695,000
$1,080,000
959
163
194
44
Balanced
FL
Jacksonville Beaches
$1,557,000
$1,137,832
194
41
73
50
Seller's
FL
Lee County
$1,795,000
$1,289,900
399
77
59
36
Buyer's
FL
Marco Island
$2,472,500
$2,275,000
78
16
17
67
Seller's
FL
Miami
$1,888,000
$1,570,000
779
148
96
76
Buyer's
FL
Naples
$3,650,000
$2,990,000
301
57
64
74
Seller's
FL
Orlando
$1,309,500
$1,172,000
502
78
91
59
Balanced
FL
Palm Beach Towns
$3,922,500
$4,500,000
206
47
37
84
Balanced
FL
Sarasota & Beaches
$1,595,000
$1,454,500
155
32
60
54
Seller's
FL
South Pinellas County
$1,400,000
$1,225,000
165
45
47
19
Seller's
FL
South Walton
$2,500,000
$2,212,500
173
35
36
47
Balanced
FL
Tampa
$870,000
$686,000
481
110
208
23
Seller's
FL
Weston
$998,250
$850,000
74
10
22
63
Seller's
GA
Atlanta
$1,400,000
$1,189,500
726
146
162
27
Seller's
GA
Duluth
$1,455,000
$1,232,500
34
14
14
44
Seller's
HI
Island of Hawaii
$2,887,500
$1,788,500
130
20
28
35
Seller's
HI
Kauai
$2,795,000
$1,515,000
107
15
15
94
Buyer's
HI
Maui
$3,700,000
$2,262,500
179
30
26
69
Buyer's
HI
Oahu
$3,200,000
$2,253,750
224
44
28
48
Buyer's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Single-Family Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
ID
Northern Idaho
$1,395,000
$875,000
123
33
102
57
Seller's
IL
Chicago
$1,460,000
$1,168,750
909
192
249
50
Seller's
IL
DuPage County
$1,100,000
$955,000
407
91
88
36
Seller's
IL
Lake County
$1,099,900
$892,500
395
54
90
37
Seller's
IL
Will County
$699,000
$581,375
201
44
70
16
Seller's
IN
Hamilton County
$842,373
$743,639
112
29
64
17
Seller's
KS
Johnson County
$813,000
$810,000
357
56
97
37
Seller's
MA
Greater Boston
$3,349,500
$2,750,000
126
26
28
36
Seller's
MD
Anne Arundel County
$1,045,000
$985,000
178
37
68
17
Seller's
MD
Frederick County
$917,245
$915,000
44
10
5
23
Buyer's
MD
Howard County
$1,049,995
$970,000
100
17
27
12
Seller's
MD
Montgomery County
$1,975,000
$1,575,000
178
38
77
9
Seller's
MD
Talbot County
$2,399,000
$1,251,500
59
13
17
38
Seller's
MD
Worcester County
$1,199,999
$729,900
41
6
11
8
Seller's
MI
Livingston County
$849,950
$687,000
56
9
10
27
Balanced
MI
Monroe County
$637,400
$550,000
16
2
2
78
Buyer's
MI
Oakland County
$825,000
$615,000
673
171
224
28
Seller's
MI
Washtenaw County
$817,500
$842,500
139
14
32
25
Seller's
MI
Wayne County
$744,000
$650,000
258
75
76
22
Seller's
MN
Olmsted County
$819,500
$826,800
57
8
12
64
Seller's
MN
Twin Cities
$1,111,606
$975,000
530
76
146
34
Seller's
MO
Kansas City
$689,900
$669,500
601
126
249
34
Seller's
MO
St. Louis
$730,000
$615,000
135
29
52
25
Seller's
NC
Charlotte
$1,149,000
$931,000
858
145
218
9
Seller's
NC
Raleigh-Durham
$1,030,648
$920,000
300
59
99
3
Seller's
NJ
Ocean County
$879,900
$852,500
338
85
134
31
Seller's
NV
Lake Tahoe
$3,995,000
$3,100,000
63
14
34
91
Seller's
NV
Las Vegas
$870,000
$723,500
1,051
269
400
27
Seller's
NV
Reno
$1,999,000
$1,639,500
48
7
24
73
Seller's
NY
Brooklyn
$1,699,000
$1,422,500
296
41
10
187
Buyer's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Single-Family Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
NY
Nassau County
$1,988,944
$1,560,000
842
131
132
58
Balanced
NY
Staten Island
$1,299,999
$975,000
175
31
20
71
Buyer's
NY
Suffolk County
$1,700,000
$1,299,000
929
163
179
52
Balanced
OH
Cincinnati
$749,700
$730,032
236
44
62
22
Seller's
OH
Cleveland Suburbs
$695,365
$591,500
50
5
14
45
Seller's
ON
GTA - Durham
$1,799,900
$1,350,000
147
81
93
13
Seller's
ON
GTA - York
$2,499,999
$1,788,000
595
224
160
28
Seller's
ON
Oakville
$2,795,000
$2,221,000
131
51
31
12
Seller's
ON
Toronto
$3,572,500
$3,150,000
400
164
107
28
Seller's
ON
Waterloo Region
$1,399,900
$1,330,000
84
17
42
17
Seller's
OR
Portland
$1,240,000
$1,137,500
429
98
144
18
Seller's
SC
Charleston
$1,630,000
$1,523,407
376
83
98
25
Seller's
TN
Nashville
$1,395,000
$1,225,000
355
82
159
7
Seller's
TX
Austin
$1,389,800
$940,000
301
89
241
9
Seller's
TX
Collin County
$832,400
$683,417
302
80
208
23
Seller's
TX
Dallas
$1,349,950
$1,089,000
448
85
133
35
Seller's
TX
Denton County
$827,900
$700,000
269
71
136
46
Seller's
TX
Fort Worth
$899,900
$802,000
422
100
190
36
Seller's
TX
Houston
$989,000
$875,000
1,469
349
257
36
Balanced
TX
San Angelo
$729,900
$680,000
27
3
3
116
Buyer's
TX
The Woodlands & Spring
$967,725
$793,000
247
62
89
25
Seller's
UT
Park City
$4,674,500
$2,800,000
94
18
67
26
Seller's
UT
Salt Lake City
$1,199,950
$965,000
164
41
89
30
Seller's
VA
Arlington & Alexandria
$1,899,900
$1,695,000
91
30
22
18
Seller's
VA
Charlottesville
$1,149,500
$1,040,000
162
21
43
49
Seller's
VA
Fairfax County
$1,999,000
$1,509,369
406
76
118
15
Seller's
VA
McLean & Vienna
$2,497,000
$1,707,500
198
34
44
22
Seller's
VA
Richmond
$899,900
$799,975
372
66
104
13
Seller's
WA
Greater Seattle
$1,997,500
$1,599,752
788
169
558
8
Seller's
WA
Seattle
$2,045,000
$1,600,000
195
48
122
8
Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
AB
Calgary
$767,000
$669,000
156
30
11
59
Buyer's
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$899,000
$715,000
154
35
53
62
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Mid Vancouver Island
$783,000
$780,000
10
4
4
71
Seller's
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,999,900
$1,750,000
766
181
69
22
Buyer's
BC
Victoria
$960,000
$944,000
121
45
32
26
Seller's
CA
Central Coast
$1,342,000
$987,500
22
9
4
15
Balanced
CA
East Bay
$992,000
$975,000
106
42
81
11
Seller's
CA
Greater Palm Springs
-
-
-
-
-
-
-
CA
Lake Tahoe
$1,297,000
$965,000
34
6
11
5
Seller's
CA
Los Angeles Beach Cities
$1,812,500
$1,550,000
216
45
49
21
Seller's
CA
Los Angeles City
$1,665,000
$1,297,500
455
103
42
39
Buyer's
CA
Los Angeles The Valley
$839,900
$745,000
71
22
45
23
Seller's
CA
Marin County
$1,195,000
$1,150,000
27
8
19
23
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,200,000
$1,050,000
264
66
120
24
Seller's
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,338,888
$1,109,500
363
86
116
33
Seller's
CA
San Francisco
$2,875,000
$2,300,000
151
16
43
49
Seller's
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Santa Barbara
$1,850,000
$1,400,000
31
6
11
53
Seller's
CA
Silicon Valley
$1,652,000
$1,526,500
74
28
46
11
Seller's
CA
Sonoma County
$844,475
$720,000
6
0
3
42
Seller's
CA
Ventura County
$837,445
$726,000
36
10
21
33
Seller's
CO
Boulder
$969,000
$780,000
107
19
29
64
Seller's
CO
Colorado Springs
-
-
-
-
-
-
-
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
CO
Denver
$874,950
$804,444
318
59
120
15
Seller's
CO
Douglas County
$585,000
$518,000
15
7
11
5
Seller's
CO
Durango
$775,000
$925,000
11
6
7
316
Seller's
CO
Summit County
$1,075,000
$1,050,000
5
2
5
11
Seller's
CO
Vail
$3,590,000
$2,700,000
107
12
11
38
Buyer's
CT
Central Connecticut
-
-
-
-
-
-
-
CT
Coastal Connecticut
$825,000
$750,000
167
20
37
55
Seller's
DC
Washington D.C.
$1,800,000
$1,539,500
241
61
66
19
Seller's
DE
Sussex County Coastal
$997,500
$805,000
26
5
11
25
Seller's
FL
Boca Raton/Delray Beach
$1,050,000
$799,000
427
72
61
55
Buyer's
FL
Coastal Pinellas County
$1,295,000
$1,126,000
157
31
54
54
Seller's
FL
Greater Fort Lauderdale
$889,000
$759,900
1,274
182
121
67
Buyer's
FL
Jacksonville Beaches
$1,349,450
$965,000
26
11
7
61
Seller's
FL
Lee County
$849,900
$812,500
274
56
56
62
Balanced
FL
Marco Island
$1,575,000
$1,111,250
46
12
7
130
Balanced
FL
Miami
$1,390,000
$1,312,500
1,894
222
60
224
Buyer's
FL
Naples
$1,712,500
$1,550,000
302
48
50
52
Balanced
FL
Orlando
$720,000
$545,000
69
10
7
68
Buyer's
FL
Palm Beach Towns
$1,599,000
$1,297,500
256
38
28
76
Buyer's
FL
Sarasota & Beaches
$1,950,000
$1,390,000
167
24
29
71
Balanced
FL
South Pinellas County
$917,500
$865,000
116
31
39
22
Seller's
FL
South Walton
$1,244,000
$1,475,000
139
16
19
8
Buyer's
FL
Tampa
$739,000
$580,000
125
38
33
59
Seller's
FL
Weston
-
-
-
-
-
-
-
GA
Atlanta
$650,000
$589,447
620
122
92
31
Buyer's
GA
Duluth
-
-
-
-
-
-
-
HI
Island of Hawaii
$1,995,000
$1,750,000
65
10
13
41
Balanced
HI
Kauai
$1,595,000
$1,080,000
69
7
7
72
Buyer's
HI
Maui
$1,780,000
$2,275,000
166
21
19
224
Buyer's
HI
Oahu
$1,280,000
$918,888
453
59
41
48
Buyer's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
ID
Northern Idaho
-
-
-
-
-
-
-
IL
Chicago
$1,100,000
$899,057
989
165
94
49
Buyer's
IL
DuPage County
$719,900
$702,500
57
20
6
59
Buyer's
IL
Lake County
-
-
-
-
-
-
-
IL
Will County
-
-
-
-
-
-
-
IN
Hamilton County
-
-
-
-
-
-
-
KS
Johnson County
$599,950
$620,000
101
11
16
61
Balanced
MA
Greater Boston
$2,362,500
$1,977,500
386
54
54
31
Buyer's
MD
Anne Arundel County
$661,450
$550,000
32
16
29
5
Seller's
MD
Frederick County
-
-
-
-
-
-
-
MD
Howard County
$560,000
$550,000
42
19
22
7
Seller's
MD
Montgomery County
$869,100
$749,900
134
39
73
10
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$699,000
$617,500
60
17
22
16
Seller's
MI
Livingston County
-
-
-
-
-
-
-
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$844,950
$585,000
68
23
7
22
Buyer's
MI
Washtenaw County
$590,000
$563,571
41
7
6
27
Buyer's
MI
Wayne County
$654,900
$570,000
64
4
6
6
Buyer's
MN
Olmsted County
-
-
-
-
-
-
-
MN
Twin Cities
-
-
-
-
-
-
-
MO
Kansas City
-
-
-
-
-
-
-
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$749,450
$595,000
184
25
39
48
Seller's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$689,000
$775,000
37
4
11
35
Seller's
NV
Lake Tahoe
$941,950
$1,400,000
2
2
7
39
Seller's
NV
Las Vegas
-
-
-
-
-
-
-
NV
Reno
-
-
-
-
-
-
-
NY
Brooklyn
$1,350,000
$1,180,000
595
118
57
52
Buyer's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
NY
Nassau County
$1,294,907
$1,099,000
136
16
19
63
Buyer's
NY
Staten Island
$599,994
$650,000
84
10
10
54
Buyer's
NY
Suffolk County
$799,000
$625,000
116
15
47
49
Seller's
OH
Cincinnati
$645,000
$650,000
25
6
4
10
Balanced
OH
Cleveland Suburbs
-
-
-
-
-
-
-
ON
GTA - Durham
$799,990
$726,500
16
18
43
6
Seller's
ON
GTA - York
$812,450
$885,000
290
203
180
13
Seller's
ON
Oakville
$1,399,000
$1,057,500
15
10
12
19
Seller's
ON
Toronto
$1,249,000
$1,130,000
891
429
233
16
Seller's
ON
Waterloo Region
$867,450
$770,000
14
5
12
7
Seller's
OR
Portland
-
-
-
-
-
-
-
SC
Charleston
$1,100,000
$1,040,000
108
22
28
25
Seller's
TN
Nashville
$689,500
$635,000
93
28
26
25
Seller's
TX
Austin
$899,000
$628,000
216
40
42
18
Balanced
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$797,000
$745,000
224
41
23
77
Buyer's
TX
Denton County
-
-
-
-
-
-
-
TX
Fort Worth
-
-
-
-
-
-
-
TX
Houston
$649,900
$597,500
197
45
19
30
Buyer's
TX
San Angelo
-
-
-
-
-
-
-
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$2,962,500
$2,615,000
82
15
34
9
Seller's
UT
Salt Lake City
$757,000
$611,147
62
11
29
19
Seller's
VA
Arlington & Alexandria
$1,162,495
$945,000
110
49
51
7
Seller's
VA
Charlottesville
$720,413
$720,743
24
4
3
7
Buyer's
VA
Fairfax County
$799,950
$700,000
127
48
91
7
Seller's
VA
McLean & Vienna
$1,338,000
$939,500
36
10
8
4
Seller's
VA
Richmond
-
-
-
-
-
-
-
WA
Greater Seattle
$1,249,000
$1,195,000
319
89
133
7
Seller's
WA
Seattle
$1,420,000
$1,465,000
159
20
19
30
Buyer's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury 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 November 2021. Last month we reviewed the inventory levels across the Hawaiian Islands and ascertained that the number of new properties entering the market, both single family and attached homes, had fallen substantially compared to September and October in 2020. November’s inventory levels for single family homes, similar to the levels for September and October, continue to be over 40% lower than the same months in 2020. However, the good news is that the percentage decrease over the last 3-4 months has slowed considerably to a rate of around 2-3% per month. Inventory levels in the attached property market had indicated a gradual increase month over month since August 2021. November’s figures show a very small percentage decrease of less than 1% compared to October, but this is not unexpected as we head into the quieter winter real estate months. However, the last three months still show a decline in inventory levels of over 40% when compared to 2020. Looking at inventory for each of the islands in November, with the exception of single family homes on Maui, which fell 10%, and Kauai’s attached inventory, which fell 20%, all other levels have remained pretty consistent month over month since September 2021. Conversely, the number of sales have fallen in November by 15% in the single family market and 10% in the attached market in the last month. This could be a combination of several factors including: lack of inventory, winter months and the holiday season, and fewer visitors to the islands. However, in comparison to the numbers in November 2020 (which was reportedly one of the busiest Novembers on record) the number of single family homes sold rose by 32% and attached properties by 119% in November 2021! The market may have slowed over the last few months, but the reality is that these islands have retained their long-term appeal to the affluent. Many homes and locations have become a near perfect fit for the wealthy’s changing priorities; which have moved away from just a vacation property to becoming either their permanent residence or, a second primary residence. As always, a real estate expert familiar with local trends is the best resource to navigate a specific market.
December
2021
Kauai Hawaii
KAUAI
Single-Family Homes
Luxury Inventory vs. Sales | November 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,200,000 $6,000,000+ $5,400,000 - $5,999,999
$4,900,000 - $5,399,999
3
0
1
2 2
3 6
1
$1,800,000 - $2,199,999
1
$1,600,000 - $1,799,999
40%
3
$2,600,000 - $2,999,999
2 4
1
3 3
$1,500,000 - $1,599,999 $1,400,000 - $1,499,999
0
$1,300,000 - $1,399,999
0
1
Total Sales Ratio2:
3
0
$2,200,000 - $2,599,999
Seller's Market
2
1
$3,000,000 - $3,399,999
47
Total Sales: 19 1
$3,900,000 - $4,399,999
$1,200,000 - $1,299,999
Total Inventory:
0 0
$4,400,000 - $4,899,999
$3,400,000 - $3,899,999
15
1
1
1 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
$1,395,000
37
2
5
3
167%
3 Bedrooms
$1,794,500
23
3
10
15
67%
4 Bedrooms
$4,350,000
1
5
3
16
19%
5 Bedrooms
$10,950,000
65
6
1
5
20%
6+ Bedrooms
NA
NA
NA
0
6
0%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
KAUAI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
$2,187,500
Inventory
$2,375,000
$2,212,500
$2,154,750
$1,899,500
$1,839,500
Solds
$1,935,000
$1,862,500
$2,030,000
$1,683,250
$1,515,000 107
101
91
15
14
Nov-20
Dec-20
89
84
20 Jan-21
14 Feb-21
85
22
Mar-21
73
56
18 Apr-21
May-21
57
55 30
24
Jun-21
20 Jul-21
$1,875,000
48
48 24
16 Aug-21
$1,789,000
47 19
14
Sep-21
Oct-21
Nov-21
Median Data Review | November Total Inventory Nov. 2020
Total Solds
Nov. 2021
107
47 VARIANCE: -56 % Sale Price Per SqFt.
Nov. 2020
$
655
Nov. 2021
15
19 VARIANCE: 27 %
Nov. 2020
$
1.52m
1,127 VARIANCE: 72 %
Nov. 2020
Nov. 2021
$
Days on Market Nov. 2020
96.81%
96.21% VARIANCE: -1 %
94
Nov. 2021
17 VARIANCE: -82 %
Kauai Market Summary | November 2021 • The Kauai single-family luxury market is a Seller's Market with a 40% Sales Ratio. • Homes sold for a median of 96.21% of list price in November 2021.
• The most active price band is $1,200,000-$1,299,999, where the sales ratio is 200%. • The median luxury sales price for single-family homes is $1,789,000.
• The median days on market for November 2021 was 17 days, down from 94 in November 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
Nov. 2021
1.79m VARIANCE: 18 %
Sale to List Price Ratio
Nov. 2021
$
Nov. 2020
Sales Price
KAUAI
Attached Homes
KAUAI
Luxury Inventory vs. Sales | November 2021 Inventory
Attached Homes
Sales
Luxury Benchmark Price 1: $950,000 $5,000,000+ $4,500,000 - $4,999,999
$4,000,000 - $4,499,999 $3,600,000 - $3,999,999 $3,200,000 - $3,599,999 $2,800,000 - $3,199,999 $2,400,000 - $2,799,999 $2,100,000 - $2,399,999
$1,800,000 - $2,099,999
4
1 1
0
Total Inventory:
1
0
Total Sales: 19 Seller's Market
0 0
1
0 0 0
3
0 0
3 4
3
$1,400,000 - $1,599,999
5
2
6 6
$1,200,000 - $1,399,999 $1,100,000 - $1,199,999
$950,000 - $999,999
1
56%
Total Sales Ratio2:
3
0
$1,600,000 - $1,799,999
$1,000,000 - $1,099,999
34
3
1
3
0 0
3
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
$1,272,500
18
2
12
16
75%
3 Bedrooms
$1,800,000
7
3
7
8
88%
4 Bedrooms
NA
NA
NA
0
7
0%
5 Bedrooms
NA
NA
NA
0
2
0%
6+ Bedrooms
NA
NA
NA
0
0
NA
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
KAUAI
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
Solds
$1,565,000 $1,299,000 $1,080,000
69
67
59
7
6
Nov-20
Dec-20
$1,395,000
$1,150,000
55
11 Jan-21
$1,199,000
$1,189,125
55
44
13
14
Feb-21
Mar-21
39
Apr-21
$1,375,000
20
May-21
$1,495,000
$1,255,000
Jun-21
28
20
Jul-21
$1,375,000
$1,350,000
41
35
25
13
$1,282,500
40
28 13
15
Aug-21
Sep-21
34
19
15
Oct-21
Nov-21
Median Data Review | November Total Inventory Nov. 2020
Nov. 2021
Nov. 2020
Nov. 2021
69
34 VARIANCE: -51 %
19 VARIANCE: 171 %
Sale Price Per SqFt.
Sale to List Price Ratio
Nov. 2020
$
Total Solds
902
Nov. 2021
1,124 VARIANCE: 25 % $
7
Nov. 2020
Nov. 2021
96.50%
97.59% VARIANCE: 1 %
Sales Price Nov. 2020
$
1.08m
1.38m VARIANCE: 27 % $
Days on Market Nov. 2020
72
Nov. 2021
14 VARIANCE: -81 %
Kauai Market Summary | November 2021 • The Kauai attached luxury market is a Seller's Market with a 56% Sales Ratio. • Homes sold for a median of 97.59% of list price in November 2021.
• The most active price band is $1,200,000-$1,399,999, where the sales ratio is 100%. • The median luxury sales price for attached homes is $1,375,000.
• The median days on market for November 2021 was 14 days, down from 72 in November 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
Nov. 2021
December
2021
Oahu Hawaii
OAHU
Single-Family Homes
Luxury Inventory vs. Sales | November 2021 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
24
0 2
0
Total Inventory:
0 0
5
Total Sales: 58
5
Seller's Market
$4,700,000 - $5,499,999
10
2
$4,100,000 - $4,699,999
6
2
$3,500,000 - $4,099,999
12
4 10
$3,100,000 - $3,499,999 $2,700,000 - $3,099,999
18 19
12
4
$2,100,000 - $2,299,999
7
$1,900,000 - $2,099,999
14
7
$1,800,000 - $1,899,999
1
12
4
$2,300,000 - $2,699,999
$1,750,000 - $1,799,999
Total Sales Ratio2: 36%
13
1
159
9
6 8
1
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$2,080,000
4
3
15
40
38%
3,000 - 3,999
$2,330,000
4
4
21
26
81%
4,000 - 4,999
$3,205,000
5
5
12
26
46%
5,000 - 5,999
$3,247,500
6
5
8
20
40%
6,000 - 6,999
$3,350,000
5
7
1
13
8%
7,000+
$4,100,000
6
7
1
34
3%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
OAHU
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
$2,253,750
224
$2,365,000
$2,200,000
208
28 Nov-20
174
50
172
29
Dec-20
$2,650,000 $2,250,000
Jan-21
170
$2,430,000
Inventory
$2,527,500
169
168
40
49
Feb-21
Mar-21
Apr-21
$2,552,500
178
150 67
60
49
$2,270,000
Solds
May-21
Jun-21
$2,425,000
$2,340,000
174
Jul-21
174
159
66
59
Aug-21
Sep-21
56
$2,557,500
$2,505,000
159 66
58
Oct-21
Nov-21
Median Data Review | November Total Inventory Nov. 2020
Total Solds
Nov. 2021
224
Nov. 2021
159 VARIANCE: -29 %
58 VARIANCE: 107 %
Sale Price Per SqFt.
Sale to List Price Ratio
Nov. 2020
$
Nov. 2020
Nov. 2021
614
729 VARIANCE: 19 % $
28
Nov. 2020
Nov. 2021
Sales Price Nov. 2020
$
2.25m
2.56m VARIANCE: 13 % $
Days on Market Nov. 2020
95.60%
100.00% VARIANCE: 5 %
48
Nov. 2021
15 VARIANCE: -69 %
Oahu Market Summary | November 2021 • The Oahu single-family luxury market is a Seller's Market with a 36% Sales Ratio. • Homes sold for a median of 100.00% of list price in November 2021.
• The most active price band is $2,100,000-$2,299,999, where the sales ratio is 175%. • The median luxury sales price for single-family homes is $2,557,500.
• The median days on market for November 2021 was 15 days, down from 48 in November 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
Nov. 2021
OAHU
Attached Homes
Luxury Inventory vs. Sales | November 2021 Inventory
Sales
Luxury Benchmark Price 1: $750,000 $7,000,000+ $6,000,000 - $6,999,999
$5,200,000 - $5,999,999 $4,400,000 - $5,199,999 $3,800,000 - $4,399,999
5
0 0
1
Total Sales: 105 Total Sales Ratio2: 30%
13
9
1
13
2
23
0
$1,800,000 - $2,199,999 $1,500,000 - $1,799,999
Seller's Market
11
0
$2,600,000 - $3,199,999
29
4
30
2
$1,200,000 - $1,499,999
47
17
$1,000,000 - $1,199,999
44
14
$900,000 - $999,999
33
14
$800,000 - $899,999
47
30
$750,000 - $799,999
1
351
Total Inventory:
0
$3,200,000 - $3,799,999
$2,200,000 - $2,599,999
10
0
36
21
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$833,500
2
2
20
128
16%
1,000 - 1,499
$965,000
2
2
51
94
54%
1,500 - 1,999
$900,750
3
3
28
60
47%
2,000 - 2,499
$1,190,000
3
3
5
30
17%
2,500 - 2,999
$1,300,000
3
2
1
15
7%
3,000+
NA
NA
NA
0
24
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.
OAHU
Attached Homes
13-Month Luxury Market Trend4 Median Sales Price
$918,888
453
$890,000
$875,000
394
360
345
41
55
Nov-20
Dec-20
$903,500
44 Jan-21
$970,000
338
$949,000
324
76
87
Feb-21
Mar-21
Inventory
$981,500
$960,000
121
May-21
Jun-21
Jul-21
351 116
101
Aug-21
$900,000
355
329 146
125
$947,000
$910,000
283
278
273 88
Apr-21
$955,000 $875,000
301 83
Solds
Sep-21
105
Oct-21
Nov-21
Median Data Review | November Total Inventory Nov. 2020
Total Solds
Nov. 2021
453
Nov. 2021
351 VARIANCE: -23 %
105 VARIANCE: 156 %
Sale Price Per SqFt.
Sale to List Price Ratio
Nov. 2020
$
Nov. 2020
Nov. 2021
797
799 VARIANCE: 0 % $
41
Nov. 2020
Nov. 2021
Sales Price Nov. 2020
919k
$
900k VARIANCE: -2 % $
Days on Market Nov. 2020
98.54%
100.00% VARIANCE: 1 %
48
Nov. 2021
12 VARIANCE: -75 %
Oahu Market Summary | November 2021 • The Oahu attached luxury market is a Seller's Market with a 30% Sales Ratio. • Homes sold for a median of 100.00% of list price in November 2021.
• The most active price band is $800,000-$899,999, where the sales ratio is 64%. • The median luxury sales price for attached homes is $900,000.
• The median days on market for November 2021 was 12 days, down from 48 in November 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
Nov. 2021
December
2021
Maui Hawaii
MAUI
Single-Family Homes
Luxury Inventory vs. Sales | November 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,500,000 $12,000,000+ $9,900,000 - $11,999,999
$4,900,000 - $5,899,999
4
1
$7,900,000 - $9,899,999 $5,900,000 - $7,899,999
5
1
12
0 6
0
$3,900,000 - $4,899,999 $3,400,000 - $3,899,999
Total Sales Ratio2:
7
29%
11
2 3
4
2
0
$1,800,000 - $1,999,999
10
6 1 1
$1,700,000 - $1,799,999
3
0
$1,500,000 - $1,599,999
1
Seller's Market
3
$2,200,000 - $2,399,999
92
Total Sales: 27
4
0
$2,400,000 - $2,899,999
$1,600,000 - $1,699,999
Total Inventory: 8
4
$2,900,000 - $3,399,999
$2,000,000 - $2,199,999
8
3
7
3
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$2,650,000
2
2
5
30
17%
2,000 - 2,999
$1,950,000
4
3
9
19
47%
3,000 - 3,999
$2,300,000
4
4
7
24
29%
4,000 - 4,999
$8,700,000
4
5
5
8
63%
5,000 - 5,999
NA
NA
NA
0
4
0%
6,000+
$11,650,000
5
6
1
7
14%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
MAUI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$3,550,000 $2,775,000
$2,262,500 179
$2,600,000
$2,412,500
155
129
26
26
Nov-20
Dec-20
125
24 Jan-21
116
$2,495,000
$2,680,000
29 Feb-21
Mar-21
$2,198,000
118
103 43
112
May-21
Jun-21
103 40
39
34
Apr-21
$2,775,000
$2,575,000
$2,332,500
116
35
$2,874,500
Jul-21
$2,420,000
104
102
30
32
Aug-21
Sep-21
92 49
27
Oct-21
Nov-21
Median Data Review | November Total Inventory Nov. 2020
Total Solds
Nov. 2021
Nov. 2020
179
$
Nov. 2021
92 VARIANCE: -49 %
26
Sale Price Per SqFt.
Sale to List Price Ratio
Nov. 2020
829
Nov. 2020
27 VARIANCE: 4 %
Nov. 2021
1,111 VARIANCE: 34 % $
Sales Price
Nov. 2020
Nov. 2021
$
2.26m
2.42m VARIANCE: 7 % $
Days on Market Nov. 2020
96.51%
98.00% VARIANCE: 2 %
69
Nov. 2021
106 VARIANCE: 54 %
Maui Market Summary | November 2021 • The Maui single-family luxury market is a Seller's Market with a 29% Sales Ratio. • Homes sold for a median of 98.00% of list price in November 2021.
• The most active price band is $1,700,000-$1,799,999, where the sales ratio is 100%. • The median luxury sales price for single-family homes is $2,420,000.
• The median days on market for November 2021 was 106 days, up from 69 in November 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
Nov. 2021
MAUI
Attached Homes
Luxury Inventory vs. Sales | November 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,200,000 $4,500,000+ $3,600,000 - $4,499,999
0
$1,800,000 - $1,899,999 $1,700,000 - $1,799,999
Total Sales Ratio2:
2
4
1 2
0
4
0 1 1
1
$1,500,000 - $1,599,999
3
0
3 2 2
$1,300,000 - $1,399,999
$1,200,000 - $1,299,999
1
100%
6 1
$1,600,000 - $1,699,999
$1,400,000 - $1,499,999
Seller's Market
0
0
34
Total Sales: 34
2 1
$2,000,000 - $2,199,999 $1,900,000 - $1,999,999
Total Inventory:
3
2
$2,400,000 - $2,599,999 $2,200,000 - $2,399,999
3
2
$3,100,000 - $3,599,999 $2,600,000 - $3,099,999
9
5
5
3
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,775,000
2
2
4
5
80%
1,000 - 1,499
$1,600,000
2
2
9
14
64%
1,500 - 1,999
$2,298,000
3
3
13
2
650%
2,000 - 2,499
$3,225,000
3
3
2
6
33%
2,500 - 2,999
$5,900,000
3
4
6
7
86%
3,000+
NA
NA
NA
0
0
NA
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
MAUI
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
Solds
$2,275,000
$2,249,000 $2,025,000
$1,800,000
$1,700,000
$1,500,000
166
$1,700,000
$1,746,250
$1,648,000
$1,500,000
$1,927,000
$1,769,000
$2,000,000
164 109
104 69
19 Nov-20
37
Dec-20
15 Jan-21
58
25 Feb-21
Mar-21
62
52
48
Apr-21
50
38
May-21
42
Jun-21
37
47
Jul-21
25
36
40
27
Aug-21
31
Sep-21
34
31
Oct-21
34
Nov-21
Median Data Review | November Total Inventory Nov. 2020
Total Solds
Nov. 2021
166
34 VARIANCE: -80 %
$
1,242
34 VARIANCE: 79 %
Nov. 2020
$
2.28m
1,460 VARIANCE: 18 %
Nov. 2020
Nov. 2021
100.00% 100.00% VARIANCE: 0 %
$
Days on Market Nov. 2020
224
Nov. 2021
68 VARIANCE: -70 %
Maui Market Summary | November 2021 • The Maui attached luxury market is a Seller's Market with a 100% Sales Ratio. • Homes sold for a median of 100.00% of list price in November 2021.
• The most active price band is $2,000,000-$2,199,999, where the sales ratio is 400%. • The median luxury sales price for attached homes is $2,249,000.
• The median days on market for November 2021 was 68 days, down from 224 in November 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
Nov. 2021
2.25m VARIANCE: -1 %
Sale to List Price Ratio
Nov. 2021
$
Nov. 2021
19
Sale Price Per SqFt. Nov. 2020
Nov. 2020
Sales Price
December
2021
Island of Hawaii
ISLAND OF HAWAII
Single-Family Homes
Luxury Inventory vs. Sales | November 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,100,000 $9,000,000+ $7,800,000 - $8,999,999
0 0
$6,800,000 - $7,799,999
1
$2,800,000 - $3,399,999
$2,400,000 - $2,799,999 $2,000,000 - $2,399,999 $1,700,000 - $1,999,999
3
Total Sales: 24
3
Seller's Market
6
0 4
1 1 1
4
1
4
1
13
8 1
2
$1,200,000 - $1,299,999
5
2
5 5
$1,100,000 - $1,199,999
1
38%
6
1
$1,400,000 - $1,699,999 $1,300,000 - $1,399,999
64
Total Sales Ratio2:
0 0
$4,200,000 - $4,999,999 $3,400,000 - $4,199,999
Total Inventory: 1
$5,800,000 - $6,799,999 $5,000,000 - $5,799,999
9
0
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,401,000
3
3
12
26
46%
3,000 - 3,999
$1,550,000
3
4
1
5
20%
4,000 - 4,999
NA
NA
NA
0
5
0%
5,000 - 5,999
$5,500,000
5
5
2
6
33%
6,000 - 6,999
NA
NA
NA
0
0
NA
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
Solds
$2,400,000 $2,137,500 $1,788,500
$1,595,000
130
120
107
28
28
Nov-20
Dec-20
$2,225,000
$2,001,500
$1,632,500
93 31
Jan-21
$1,990,000
$1,800,000
$1,760,000
77 36
43
Feb-21
Mar-21
72
67 42
63
40
Apr-21
$1,775,000
57 27
May-21
Jun-21
$1,630,000
$1,502,500
Jul-21
64
60
53 27
28
Aug-21
Sep-21
24
64 24
24
Oct-21
Nov-21
Median Data Review | November Total Inventory Nov. 2020
Nov. 2021
130
Nov. 2020
Nov. 2021
64 VARIANCE: -51 %
24 VARIANCE: -14 %
Sale Price Per SqFt.
Sale to List Price Ratio
Nov. 2020
$
Total Solds
Nov. 2021
662
714 VARIANCE: 8 % $
28
Nov. 2020
Nov. 2021
95.53%
97.75% VARIANCE: 2 %
Sales Price Nov. 2020
$
1.79m
1.50m VARIANCE: -16 % $
Days on Market Nov. 2020
35
Nov. 2021
16 VARIANCE: -54 %
Island of Hawaii Market Summary | November 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 97.75% of list price in November 2021.
• The most active price band is $1,300,000-$1,399,999, where the sales ratio is 200%. • The median luxury sales price for single-family homes is $1,502,500.
• The median days on market for November 2021 was 16 days, down from 35 in November 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
Nov. 2021
ISLAND OF HAWAII
Attached Homes
Luxury Inventory vs. Sales | November 2021 Inventory
Sales
Luxury Benchmark Price 1: $950,000 1 1
$4,500,000+ $4,000,000 - $4,499,999
$3,500,000 - $3,999,999 $3,100,000 - $3,499,999 $2,700,000 - $3,099,999 $2,400,000 - $2,699,999 $2,100,000 - $2,399,999
0 0
Total Inventory: 32
0 0
Seller's Market
2
Total Sales Ratio2: 53% 5
2
0
3
2
3
0
1 1 1
$1,100,000 - $1,199,999
3
0
3 1
$950,000 - $999,999
1
2
2
$1,200,000 - $1,299,999
$1,000,000 - $1,099,999
Total Sales: 17
1
0
$1,400,000 - $1,599,999 $1,300,000 - $1,399,999
7
1
$1,800,000 - $2,099,999
$1,600,000 - $1,799,999
3
1
3
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
1
0%
1,000 - 1,499
$1,075,500
3
2
4
8
50%
1,500 - 1,999
$1,130,000
3
3
7
7
100%
2,000 - 2,499
NA
NA
NA
0
5
0%
2,500 - 2,999
$3,995,000
4
5
3
5
60%
3,000+
NA
NA
NA
0
4
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
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
Solds
$2,222,500 $1,750,000
$1,625,000
$1,500,000
65
$1,420,000
$1,427,500
$1,425,000
$1,625,000
$1,595,000 $1,400,000
$1,340,000
$1,300,000
$1,180,000
64 41 13
Nov-20
25
24
Dec-20
Jan-21
26
22
Feb-21
22
28
Mar-21
26
31
29
Apr-21
24
17
May-21
17
Jun-21
28
23
Jul-21
35
34
32
16
18
Aug-21
Sep-21
32
29
17
Oct-21
Nov-21
Median Data Review | November Total Inventory Nov. 2020
Nov. 2021
65
32 VARIANCE: -51 % Sale Price Per SqFt. Nov. 2020
$
Nov. 2021
1,880
821 VARIANCE: -56 % $
Total Solds Nov. 2020
Nov. 2021
13
17 VARIANCE: 31 %
Sale to List Price Ratio Nov. 2020
Nov. 2021
100.00% 100.00% VARIANCE: 0 %
Sales Price Nov. 2020
$
1.75m
1.18m VARIANCE: -33 % $
Days on Market Nov. 2020
41
Nov. 2021
5 VARIANCE: -88 %
Island of Hawaii Market Summary | November 2021 • The Island of Hawaii attached luxury market is a Seller's Market with a 53% Sales Ratio. • Homes sold for a median of 100.00% of list price in November 2021.
• The most active price bands are $950,000-$999,999 and $1,100,000-$1,199,999, where the sales ratio is 300%.
• The median luxury sales price for attached homes is $1,180,000.
• The median days on market for November 2021 was 5 days, down from 41 in November 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
Nov. 2021
KAUAI
|
OAHU
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MAUI
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HAWAII ISLAND
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