KAUAI
|
OAHU
|
MAUI
|
HAWAII ISLAND
Luxury Market Report Hawaii, January 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 Welcome to January 2021, where we review the previous year’s market in conjunction with current market predictions for North America’s (US and Canada) luxury real estate. In a snapshot of 2020, despite the devasting effects of the coronavirus pandemic, the luxury real estate market has seen one of its strongest years since 2008. In comparison to experts’ predictions in early 2020, it is remarkable how significant demands for property type, location, and amenity preferences have changed amid the pandemic. In the early months of 2020, there was a guarded optimism in many of the luxury markets as 2019’s fears of global economic slowdown, US-China political differences, and perhaps even recession, slowly abated. Experts predicted a stronger luxury market that built on the trends of 2019 with buyers still very much in control. Statistics during the first quarter of 2020 revealed that both attached and single-family sales, as well as prices, had started to increase, bearing out these expectations. However, by the end of the 2nd quarter, demand had rapidly changed with luxury homeowners purchasing properties in suburban and exurbia communities that afforded them privacy, security and space. This change was as immense as it was rapid – turning many locations into seller’s markets. Another area that dramatically changed over the last year was the expectation that 2020 would be the year of luxury condo developments and boutique villa complexes. New developments entering the market catered to demands for modern, clean line designs, five-star service levels, and curated wellness amenities.
While it would be unfair to say that these developments have not remained popular, the coronavirus pandemic has changed not just the type of property in demand, but the location and lifestyle requirements of the wealthy, at least for the foreseeable future. In a recent analysis, there was conclusive evidence of a significant trend of buyers moving back to purchasing mega mansions, ranches, and large estates. Attached Home Sales
Single Family Home Sales
2019 vs. 2020
2019 vs. 2020
2019
2020
2019
18,000
18,000
16,000
16,000
14,000
14,000
12,000
12,000
10,000
10,000
8,000
8,000
6,000
6,000
4,000
4,000
2,000
2,000
0
2020
0 JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
*Figures based on the 101 markets researched by The Institute for Luxury Home Marketing.
2020 was also predicted to be the year that Smart Home technology would become even more prevalent in our homes. Although it’s doubtful anyone could have realized just how significant and critical mediums such as streaming, gaming, AI assistants, conference and social platforms such as Zoom and Teams, and even wireless devices would become in our lives! Instead, it had been expected that technology controlling our household electrical, security, lawncare, how we work, cook, and play, and even gadgets that dispense pet treats, would become the most significant types of smart controls implemented into our daily lives. One aspect of early 2020 predictions that remained somewhat close to expectations was the interior design of luxury homes. There had been a distinct move away from the more neutral white palate to embracing more warmth and laid-back luxury features. Designs and tastes had moved towards focusing on creating an atmosphere of a welcoming relaxation, rather than the more formal interiors of previous years. Indeed, another benefactor of the pandemic has been the interior design, remodeling, and upgrading of amenities sector as home improvement became the focus of many desiring a space for sanctuary and wellbeing. This sector also saw significant changes as homes transformed to include an office, school, restaurant, movie theater, and wellness. Amenities that had been fading from the ‘must have’ list were now back
with a vengeance, including swimming pools, tennis courts, and in-house screening rooms. The luxury real estate market’s initial resilience in the second quarter of the year surprised many in the industry, who had anticipated at the onset of the pandemic that the market would see a sharp downturn. There were several significant factors that were key in preventing this; firstly the stock market rebounded very quickly, which enabled the affluent to leverage their wealth and purchase another property. The pandemic itself drove demand – as people realized that they would be stuck in their homes, they quickly searched for properties that could provide more spacious security. Equally important was a property that afforded them the environment to embrace a new work/lifestyle balance. Many buyers were able to use technology, as the real estate industry and its service providers adapted very quickly with online tools from as 3D tours, virtual meetings, and digital paperwork and signatures, enabling buyers to search, view, and complete transactions – sometimes even sight unseen. Interest rates fell to all-time low, thereby affording the ability to borrow money at extremely low rates. This also enabled first time homebuyers to purchase properties, and for those sellers then to move up the ladder, thereby increasing the demand upwards. Not only did this growing demand increase prices, but also the lack of inventory of large properties, unrenovated homes, and properties in remote locations, that previously had sat on the market for extended periods, were snatched up. In addition, inventory levels dropped as owners with larger properties started to remove them from the market, recognizing that these homes now met their new requirements.
As we moved towards the end of 2020, these trends fueled even more demand for spacious singlefamily homes in suburban and remote locations and the data shows in the last quarter of the year, that in many locations the number of sold properties outweighs the number of new listings. Experts believe that the demand for exclusive residential properties outside the metropolitan areas will continue well into 2021; even with the introduction of vaccines, the pandemic is far from over. For those who have moved to the suburbs and beyond, moving back to the city full time is unlikely while the work from home trend remains. Many of these affluent homeowners are now making their secondary properties their primary residences for the foreseeable future. Although it is important to understand, for cities that are not densely built up or offer communities that have larger properties with yards and green space, it is predicted that these will remain or become popular again with the affluent who are not willing or wanting to leave their metropolitan lifestyle. 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
73 61
62
Days on Market
60
55
54
41
47
40
42
38
37
31
37
32
35
30
32
31
33
28 27
28
27
20
33
29 34
35
0 DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
$600
JUL
AUG
SEP
$494 $366
$367
JUN
$355
$366
$475
$500
$356
$443
$461
$499 $356
$468 $338
$349
$340
$448
$461
$486 $343
$362
$300
$461
$453 $366
$466
$400
$365
Price per Square Foot
$500
OCT
NOV
OCT
NOV
$200
$100
$0 NOV
DEC
JAN
FEB
MAR
APR
MAY
$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 NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
Luxury Monthly Market Review A Review of Key Market Differences Month Over Month November 2020 | December 2020
Single-Family Homes November
December
Median List Price
$1,637,450
$1,639,000
Total Inventory
Median Sale Price
$1,297,000
$1,330,000
New Listings
Median SP/LP Ratio
98.18%
97.89%
Total Sold
Total Sales Ratio
37.24%
48.91%
Median Days on Market
$355
$366
Median Price per Sq. Ft.
November December 37,115
30,275
8,536
6,330
13,821
14,806
28
33
3,484
3,515
Average Home Size
Median prices represent properties priced above respective city benchmark prices.
2,206
985
New Listings
Total Sold
5
11.67%
Med. Sale Price
Days on Market
Sales Ratio
33,000
$
Single-Family Homes Market Summary | December 2020 •
Official Market Type: Seller's Market with a 48.91% Sales Ratio.1
•
Homes are selling for an average of 97.89% of list price.
•
The median luxury threshold2 price is $900,000, and the median luxury home sales price is $1,330,000.
•
Markets with the Highest Median Sales Price: Vail ($5,600,000), Los Angeles Beach Cities ($3,500,000), San Francisco ($3,237,500), and Los Angeles City ($3,160,018).
•
Markets with the Highest Sales Ratio: Ada County (328%), East Bay (186%), Sacramento (163%) and Denver (151%). 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 Month Over Month November 2020 | December 2020
Attached Homes November
December
$1,050,000
$1,075,000
$899,057
$912,500
Median SP/LP Ratio
98.55%
Total Sales Ratio
Median List Price Median Sale Price
Median Price per Sq. Ft.
November December Total Inventory
17,766
15,275
New Listings
3,783
3,025
98.53%
Total Sold
3,680
4,165
20.71%
27.27%
Median Days on Market
27
35
$475
$494
2,008
2,043
Average Home Size
Median prices represent properties priced above respective city benchmark prices.
758
485
New Listings
Total Sold
Med. Sale Price
Days on Market
13,444
$
8
6.56% Sales Ratio
Attached Homes Market Summary | December 2020 •
Official Market Type: Seller's Market with a 27.27% Sales Ratio.1
•
Attached homes are selling for an average of 98.53% of list price.
•
The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $912,500.
•
Markets with the Highest Median Sales Price: Vail ($2,925,000), San Francisco ($2,525,000), Park City ($2,050,000), and Naples ($2,000,000).
•
Markets with the Highest Sales Ratio: GTA-Durham (500%), Ventura County (173%), Central Coast (173%) and East Bay (139%). 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
$1,198,000
$1,034,000
363
78
66
56
Balanced
AZ
Paradise Valley
$3,595,000
$2,811,250
147
23
40
86
Seller's
AZ
Phoenix
$870,000
$650,000
327
112
376
38
Seller's
AZ
Scottsdale
$2,196,750
$1,331,500
428
86
284
59
Seller's
AZ
Tucson
$795,000
$650,000
390
89
187
18
Seller's
BC
Greater Victoria
$2,140,000
$1,750,000
64
14
13
39
Balanced
BC
Okanagan Valley
$1,690,000
$1,470,000
322
67
61
72
Balanced
BC
Vancouver
$4,388,000
$3,000,000
669
108
80
28
Buyer's
CA
Central Coast
$3,374,500
$2,295,000
186
54
89
23
Seller's
CA
East Bay
$2,495,000
$1,850,000
179
82
333
9
Seller's
CA
Lake Tahoe
$2,891,944
$2,087,944
148
33
78
59
Seller's
CA
Los Angeles Beach Cities
$5,696,000
$3,500,000
365
57
91
29
Seller's
CA
Los Angeles City
$4,199,000
$3,160,018
882
158
195
37
Seller's
CA
Los Angeles The Valley
$2,499,000
$1,733,800
398
117
250
20
Seller's
CA
Marin County
$3,995,000
$3,025,000
75
7
54
52
Seller's
CA
Napa County
$3,000,000
$2,000,000
105
10
29
56
Seller's
CA
Orange County
$2,994,000
$1,823,211
815
179
444
24
Seller's
CA
Palm Springs/Palm Desert
$2,195,000
$1,465,000
285
51
153
49
Seller's
CA
Placer County
$1,050,000
$935,000
119
37
109
12
Seller's
CA
Sacramento
$899,000
$720,750
300
115
490
8
Seller's
CA
San Diego
$2,735,000
$1,675,000
624
165
411
16
Seller's
CA
San Francisco
$4,995,000
$3,237,500
57
8
52
20
Seller's
CA
San Luis Obispo County
$1,825,000
$1,375,000
126
21
57
CA
Santa Barbara
$4,272,500
$2,800,000
152
28
53
59
Seller's
CA
Silicon Valley
$4,074,975
$3,150,000
266
103
243
11
Seller's
CA
Ventura County
$2,487,500
$1,545,000
164
33
115
36
Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Seller's
Luxury Monthly Market Review Single-Family Homes
State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
$2,000,000
$1,525,000
209
32
96
72
Seller's
$907,445
$699,604
128
31
156
15
Seller's
CO
Boulder
CO
Colorado Springs
CO
Denver
$1,150,000
$855,000
417
146
628
12
Seller's
CO
Douglas County
$1,525,000
$1,125,000
107
20
99
26
Seller's
CO
Durango
$1,499,750
$1,027,500
50
8
12
76
Seller's
CO
Summit County
$2,125,000
$1,880,000
20
8
11
72
Seller's
CO
Vail
$6,125,000
$5,600,000
90
14
9
439
Buyer's
CT
Central Connecticut
$685,000
$597,381
325
45
129
26
Seller's
CT
Coastal Connecticut
$1,995,000
$1,535,695
745
89
298
64
Seller's
DC
Washington D.C.
$4,850,000
$2,387,000
53
13
19
6
Seller's
FL
Boca Raton/Delray Beach
$2,684,000
$1,980,000
355
66
92
58
Seller's
FL
Coastal Pinellas Towns
$1,595,000
$1,572,500
45
7
28
8
Seller's
FL
Greater Fort Lauderdale
$1,636,950
$996,500
948
181
262
44
Seller's
FL
Jacksonville Beaches
$1,524,500
$1,260,000
180
26
63
42
Seller's
FL
Lee County
$1,795,000
$1,295,000
365
77
122
49
Seller's
FL
Miami
$1,449,500
$1,225,000
1,042
231
183
58
Balanced
FL
Naples
$2,895,000
$2,125,000
367
63
171
65
Seller's
FL
Orlando
$1,615,000
$1,380,000
347
42
73
54
Seller's
FL
Palm Beach Towns
$3,497,500
$2,975,000
226
61
82
91
Seller's
FL
Sarasota & Beaches
$2,050,000
$1,600,000
240
51
106
34
Seller's
FL
South Walton
$2,595,000
$1,875,000
155
22
51
26
Seller's
FL
Tampa
$879,950
$688,500
376
114
288
14
Seller's
GA
Atlanta
$1,300,000
$972,500
688
134
247
26
Seller's
HI
Island of Hawaii
$2,862,500
$1,750,000
122
23
47
36
Seller's
HI
Kauai
$2,697,500
$1,625,000
92
12
17
32
Balanced
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Single-Family Homes
State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
HI
Maui
$3,700,000
$2,750,000
157
17
27
74
Balanced
HI
Oahu
$3,500,000
$2,468,000
194
28
37
47
Balanced
ID
Ada County
$952,450
$727,008
58
29
190
3
Seller's
ID
Northern
$1,249,000
$750,000
125
40
123
69
Seller's
IL
Chicago
$1,399,000
$1,100,000
846
137
353
51
Seller's
IL
DuPage County
$1,145,000
$920,000
345
70
103
75
Seller's
IL
Lake County
$1,170,000
$900,000
342
52
74
62
Seller's
IL
Will County
$699,000
$575,000
166
29
73
34
Seller's
IN
Hamilton County
$802,500
$729,000
82
18
94
19
Seller's
MA
Greater Boston
$3,349,500
$2,952,500
74
6
42
38
Seller's
MD
Anne Arundel County
$995,496
$900,000
158
28
111
23
Seller's
MD
Montgomery County
$1,986,500
$1,550,000
142
33
99
14
Seller's
MD
Talbot County
$2,400,000
$1,550,000
47
7
24
26
Seller's
MD
Worcester County
$1,195,000
$754,000
37
3
8
36
Seller's
MI
Livingston County
$800,000
$742,500
47
11
14
82
Seller's
MI
Monroe County
$649,900
$550,000
15
3
3
169
Balanced
MI
Oakland County
$813,400
$635,000
579
112
235
25
Seller's
MI
Washtenaw County
$780,500
$800,000
116
16
35
29
Seller's
MI
Wayne County
$757,450
$635,000
212
25
83
31
Seller's
MO
St. Louis
$782,750
$690,000
106
24
69
37
Seller's
NC
Charlotte
$999,000
$835,000
429
90
272
15
Seller's
NC
Raleigh-Durham
$799,000
$675,000
456
91
353
1
Seller's
NJ
Ocean County
$875,000
$772,500
321
55
174
22
Seller's
NV
Las Vegas
$795,000
$649,000
1,122
306
583
27
Seller's
NV
Reno
$1,899,000
$1,200,000
51
8
41
71
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
NY
Brooklyn
$1,649,500
$1,330,000
276
33
25
83
Buyer's
NY
Nassau County
$1,850,000
$1,385,000
774
96
183
50
Seller's
NY
Staten Island
$1,347,500
$992,000
154
13
30
61
Balanced
NY
Suffolk County
$1,595,000
$1,187,500
922
108
284
54
Seller's
ON
GTA - Durham
$1,899,000
$1,260,500
99
53
71
20
Seller's
ON
GTA - York
$2,695,000
$1,745,000
363
131
163
32
Seller's
ON
Oakville
$3,199,000
$2,350,000
76
17
19
15
Seller's
ON
Toronto
$3,572,500
$3,135,000
270
75
62
40
Seller's
TN
Nashville
$1,175,000
$1,059,000
195
66
149
12
Seller's
TX
Austin
$1,300,000
$915,000
257
92
341
10
Seller's
TX
Collin County
$849,450
$697,000
244
62
242
23
Seller's
TX
Dallas
$1,159,450
$929,000
428
83
207
35
Seller's
TX
Denton County
$898,500
$711,450
199
54
174
24
Seller's
TX
Fort Worth
$899,000
$790,000
325
86
211
32
Seller's
TX
Houston
$847,900
$748,185
1,625
323
475
32
Seller's
TX
San Antonio
$875,000
$737,872
286
44
117
59
Seller's
TX
The Woodlands & Spring
$905,000
$815,000
264
61
97
32
Seller's
UT
Park City
$4,650,000
$2,750,000
95
37
63
27
Seller's
UT
Salt Lake City
$1,291,150
$1,070,754
146
34
112
48
Seller's
VA
Arlington & Alexandria
$2,095,000
$1,947,500
65
16
36
7
Seller's
VA
Fairfax County
$2,296,000
$1,495,000
296
42
121
25
Seller's
VA
McLean & Vienna
$2,599,450
$1,655,000
154
25
53
34
Seller's
VA
Richmond
$854,450
$770,000
164
29
87
11
Seller's
WA
Greater Seattle
$1,999,500
$1,602,500
573
124
482
11
Seller's
WA
Seattle
$1,772,500
$1,405,000
150
37
140
15
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
$925,000
$912,500
63
8
2
59
Buyer's
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$850,000
$646,250
185
49
100
43
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Greater Victoria
$949,900
$940,000
75
17
10
68
Buyer's
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,988,000
$1,580,500
643
126
62
37
Buyer's
CA
Central Coast
$1,295,000
$1,200,000
11
8
19
11
Seller's
CA
East Bay
$999,995
$951,500
64
38
89
9
Seller's
CA
Lake Tahoe
$1,495,000
$1,352,500
36
11
14
75
Seller's
CA
Los Angeles Beach Cities
$1,699,000
$1,427,825
197
46
104
15
Seller's
CA
Los Angeles City
$1,416,500
$1,200,000
424
78
73
40
Balanced
CA
Los Angeles The Valley
$749,000
$692,000
93
38
129
25
Seller's
CA
Marin County
$1,180,000
$1,338,500
18
1
16
53
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,137,995
$947,750
264
83
212
24
Seller's
CA
Palm Springs/Palm Desert
-
-
-
-
-
-
-
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,200,000
$881,000
359
111
224
26
Seller's
CA
San Francisco
$2,885,000
$2,525,000
96
10
27
35
Seller's
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Santa Barbara
$1,925,000
$1,500,000
17
2
15
14
Seller's
CA
Silicon Valley
$1,439,500
$1,386,000
122
50
89
18
Seller's
CA
Ventura County
$794,000
$675,000
26
11
45
35
Seller's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
CO
Boulder
$999,900
$781,949
79
10
35
74
Seller's
CO
Colorado Springs
-
-
-
-
-
-
-
CO
Denver
$720,000
$637,000
357
63
263
18
Seller's
CO
Douglas County
$575,000
$577,000
13
3
9
4
Seller's
CO
Durango
$750,000
$750,000
11
3
7
327
Seller's
CO
Summit County
$1,450,000
$1,199,000
5
2
3
13
Seller's
CO
Vail
$3,900,000
$2,925,000
111
24
24
75
Seller's
CT
Central Connecticut
-
-
-
-
-
-
-
CT
Coastal Connecticut
$1,100,000
$685,000
208
77
55
63
Seller's
DC
Washington D.C.
$1,895,000
$1,549,000
216
48
67
17
Seller's
FL
Boca Raton/Delray Beach
$1,050,000
$830,000
414
78
78
75
Balanced
FL
Greater Fort Lauderdale
$1,212,000
$785,000
88
21
38
15
Seller's
FL
Jacksonville Beaches
$870,000
$795,000
1,229
171
131
82
Buyer's
FL
Lee County
$1,089,000
$1,065,000
28
5
6
46
Seller's
FL
Miami
$849,900
$877,500
274
56
68
78
Seller's
FL
Naples
$1,075,000
$925,000
2,556
300
129
242
Buyer's
FL
Orlando
$2,495,000
$2,000,000
200
45
63
46
Seller's
FL
Palm Beach Towns
$750,000
$647,750
65
16
18
16
Seller's
FL
Pinellas County Towns
$1,515,550
$1,425,000
371
66
46
100
Buyer's
FL
Sarasota & Beaches
$1,572,000
$1,123,000
202
40
38
30
Balanced
FL
South Walton
$1,246,140
$1,400,000
139
12
23
38
Balanced
FL
Tampa
$689,900
$599,000
91
11
27
62
Seller's
GA
Atlanta
$656,450
$599,900
542
120
101
34
Balanced
HI
Island of Hawaii
$1,922,000
$1,300,000
66
15
27
51
Seller's
HI
Kauai
$1,375,000
$1,125,000
76
10
9
115
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
HI
Maui
$1,645,000
$1,500,000
174
27
37
119
Seller's
HI
Oahu
$1,531,000
$999,998
345
44
34
44
Buyer's
ID
Ada County
$567,400
$565,000
20
2
9
18
Seller's
ID
Northern
-
-
-
-
-
-
-
IL
Chicago
$1,150,000
$1,020,000
831
116
121
58
Buyer's
IL
DuPage County
$754,450
$740,000
46
7
8
45
Balanced
IL
Lake County
-
-
-
-
-
-
-
IL
Will County
-
-
-
-
-
-
-
IN
Hamilton County
-
-
-
-
-
-
-
MA
Greater Boston
$2,295,000
$1,860,000
285
37
70
46
Seller's
MD
Anne Arundel County
$650,000
$535,012
29
9
18
17
Seller's
MD
Montgomery County
$819,450
$663,113
130
42
82
16
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$699,000
$644,450
61
14
28
24
Seller's
MI
Livingston County
-
-
-
-
-
-
-
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$824,450
$553,225
72
21
11
2
Balanced
MI
Washtenaw County
$599,900
$631,978
35
6
2
0
Buyer's
MI
Wayne County
$668,000
$816,755
61
6
7
11
Buyer's
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$712,000
$610,000
165
35
65
26
Seller's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$669,000
$699,900
29
4
17
44
Seller's
NV
Las Vegas
-
-
-
-
-
-
-
NV
Reno
-
-
-
-
-
-
-
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
Brooklyn
$1,299,000
$1,115,000
581
95
98
78
Balanced
NY
Nassau County
$1,312,000
$1,071,250
118
12
26
65
Seller's
NY
Staten Island
-
-
-
-
-
-
-
NY
Suffolk County
$799,000
$619,250
105
15
54
72
Seller's
ON
GTA - Durham
$870,400
$750,000
12
20
60
5
Seller's
ON
GTA - York
$779,000
$899,900
173
125
165
18
Seller's
ON
Oakville
$2,698,001
$975,000
21
6
1
2
Buyer's
ON
Toronto
$1,288,471
$1,100,000
582
201
208
28
Seller's
TN
Nashville
$849,950
$624,450
98
22
32
10
Seller's
TX
Austin
$899,000
$667,000
184
44
80
33
Seller's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$857,500
$607,500
170
24
28
60
Balanced
TX
Denton County
-
-
-
-
-
-
-
TX
Fort Worth
-
-
-
-
-
-
-
TX
Houston
$669,000
$579,000
182
46
34
27
Balanced
TX
San Antonio
$849,500
$680,698
36
3
14
218
Seller's
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$3,150,000
$2,050,000
95
36
40
64
Seller's
UT
Salt Lake City
$795,000
$598,290
49
7
29
82
Seller's
VA
Arlington & Alexandria
$1,197,450
$980,000
74
31
67
13
Seller's
VA
Fairfax County
$799,950
$677,525
105
35
108
8
Seller's
VA
McLean & Vienna
$1,348,000
$990,000
29
2
13
16
Seller's
VA
Richmond
-
-
-
-
-
-
-
WA
Greater Seattle
$1,250,000
$1,025,000
218
39
91
14
Seller's
WA
Seattle
$1,494,500
$1,345,000
126
9
13
38
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 the year end of 2020. Although Hawaiiâ&#x20AC;&#x2122;s economy was greatly impacted by the COVID-19 pandemic in 2020, with the tourism industry seeing the biggest downturn, recent predictions by the Hawaii State Department for Business, Economic Development and Tourism forecasts a strong return in 2021. Although they do acknowledge that it may take several years to return to the numbers of 2018 and 2019, the key economic indicators are positive. The luxury real estate market was similarly affected in the second and third quarters of 2020, with the market almost stagnating and potential sales put on hold until visitor restrictions were eased in October 2020. The positive effect of these strong precautions showed to the affluent, outside its borders, that Hawaii was a location that not only offered a tropical paradise but, more importantly, a luxury safe haven. As a result, the Hawaiian luxury real estate market has shown a marked sales growth month over month in the last quarter for 2020. December 2020 compared to November 2020 shows an increase of sales by 25.5% for single family homes and 14.47% for attached properties. Looking at December 2020 figures compared to December 2019, there was a 123.63% increase in sales for single family homes and 7.4% for attached properties. Inventory levels have dropped comparatively to 2019, probably due to a combination of high demand and homeowners deciding to hold on to their residence, which may have previously been on the market. Single family homes show a 23.6% decrease in inventory and attached properties, which includes condos, levels have fallen by 7.29%. This increased demand and lower inventory has fueled prices which, in general, have increased by 17.5% for luxury single family homes compared to December 2019; although attached properties are still below traditional levels by 12.6%, on average. For homeowners currently looking to sell, now is the time to work with your Corcoran Pacific agent to prepare the home so that itâ&#x20AC;&#x2122;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.
Kauai Hawaii January 2021
KAUAI
Single-Family Homes
Luxury Inventory vs. Sales | December 2020 Inventory
Sales
Luxury Benchmark Price 1: $1,025,000 $8,500,000+ $7,300,000 - $8,499,999 $6,100,000 - $7,299,999
1
3
8
7
$1,025,000 - $1,199,999
1
18
2 11
1 5
0
$1,500,000 - $1,699,999
$1,200,000 - $1,299,999
18%
Total Sales Ratio2:
3
0
$2,300,000 - $2,899,999
$1,300,000 - $1,399,999
Balanced Market
1
$1,900,000 - $2,299,999
92
Total Sales: 17 4
1
$3,500,000 - $4,299,999
$1,400,000 - $1,499,999
Total Inventory:
1
$4,300,000 - $5,099,999
$1,700,000 - $1,899,999
2
0
$5,100,000 - $6,099,999
$2,900,000 - $3,499,999
13
1
6
3 3
0 0
2 8
1
1
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
2
0%
2 Bedrooms
$1,175,000
0
3
1
8
13%
3 Bedrooms
$2,000,000
32
3
7
30
23%
4 Bedrooms
$1,600,000
110
4
7
29
24%
5 Bedrooms
$1,562,500
48
4
1
15
7%
6+ Bedrooms
NA
NA
NA
0
8
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% MLSÂŽ data reported previous monthâ&#x20AC;&#x2122;s sales exceeded current inventory.
KAUAI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
$2,007,500
138
128
$1,845,000
$1,293,000
$1,200,000
$1,100,000
Solds
$2,175,000
$1,469,000
$1,365,000
Inventory
$1,710,000
$1,590,000
$1,367,500
136 110
3
7
3
Dec-19
Jan-20
Feb-20
105
13
Mar-20
103
97
94
2
5
2
Apr-20
May-20
Jun-20
13
10
Aug-20
Sep-20
10 Jul-20
113
106
94
$1,625,000
$1,475,000
108
23
Oct-20
92
17
17
Nov-20
Dec-20
Median Data Inventory
Solds
Sales Price
November
December
November
December
108
92
17
17
VARIANCE: -
15%
Sale Price Per SqFt. November
$
VARIANCE:
November
$
0%
1.48m
$
VARIANCE:
Sale to List Price Ratio
1.63m 10%
Days on Market
December
November
December
November
December
663
96.81%
96.49%
88
32
755
$
VARIANCE: -
12%
VARIANCE:
0%
VARIANCE: -
Kauai Market Summary | December 2020 • The Kauai single-family luxury market is a Balanced Market with an 18% Sales Ratio. • Homes sold for a median of 96.49% of list price in December 2020. • The most active price band is $1,025,000-$1,199,999, where the sales ratio is 300%. • The median luxury sales price for single-family homes has increased to $1,625,000. • The median days on market for December 2020 was 32 days, down from 88 in November 2020. 3
December
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.
64%
KAUAI
Attached Homes
Luxury Inventory vs. Sales | December 2020 Inventory
Sales
Luxury Benchmark Price 1: $850,000 $3,700,000+ $3,300,000 - $3,699,999 $2,900,000 - $3,299,999 $2,500,000 - $2,899,999
0
Total Sales Ratio2:
2
7 9
1
10
1
$1,000,000 - $1,099,999
12%
2
1
$1,100,000 - $1,299,999
5
1
10
0 3
0
3
0
3 3
$850,000 - $874,999
1
Buyer's Market
3
1
$1,300,000 - $1,499,999
$875,000 - $899,999
Total Sales: 9
1
0
$1,500,000 - $1,699,999
$900,000 - $949,999
6
1
76
Total Inventory:
0
$1,700,000 - $1,899,999
$950,000 - $999,999
3
0
$2,200,000 - $2,499,999 $1,900,000 - $2,199,999
9
0
Beds3
Price
DOM
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0-1 Bedrooms
NA
NA
NA
0
1
0%
2 Bedrooms
$1,099,000
125
2
7
34
21%
3 Bedrooms
$1,737,500
40
4
2
26
8%
4 Bedrooms
NA
NA
NA
0
8
0%
5 Bedrooms
NA
NA
NA
0
5
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
Inventory
Solds
$1,500,000 $1,225,000
$1,225,000
$1,100,000
$1,300,000
$1,223,000
$1,125,000
$1,095,000 $900,000
84
80
81
79
74
67
$992,500
$977,000
80
85
$965,000
$925,004 86
86
84
76
49 9
5
Dec-19
Jan-20
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
Median Data Inventory November
Solds
December
84
December
76 VARIANCE: -10 %
9 VARIANCE: -18 %
Sale Price Per SqFt.
Sale to List Price Ratio
November
$
November
Sales Price
778
$
965k
December
1.13m VARIANCE: 17 % $
Days on Market
December
November
December
November
December
896
96.65%
97.21%
35
115
$
VARIANCE:
11
November
15%
VARIANCE:
1%
VARIANCE:
229%
Kauai Market Summary | December 2020 • The Kauai attached luxury market is a Buyer's Market with a 12% Sales Ratio. • Homes sold for a median of 97.21% of list price in December 2020. • The most active price band is $850,000-$874,999, where the sales ratio is 100%. • The median luxury sales price for attached homes has increased to $1,125,000. • The median days on market for December 2020 was 115 days, up from 35 in November 2020.
3
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.
Oahu Hawaii January 2021
OAHU
Single-Family Homes
Luxury Inventory vs. Sales | December 2020 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 $4,050,000 - $4,649,999
28
0 3
0
$3,050,000 - $3,449,999
Total Sales: 37
5
0
1 1
6
2
28
3 12
2
29
4
8
4
$2,250,000 - $2,449,999
13
5
$2,050,000 - $2,249,999
1
19%
9
2
$2,450,000 - $2,649,999
$1,875,000 - $1,949,999
Total Sales Ratio2:
10
$2,650,000 - $3,049,999
$1,950,000 - $2,049,999
Balanced Market
14
$3,450,000 - $4,049,999
194
Total Inventory:
8
9 13
2 3
7
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$2,650,000
3
3
8
38
21%
3,000 - 3,999
$2,176,316
4
4
8
35
23%
4,000 - 4,999
$2,557,500
4
5
6
36
17%
5,000 - 5,999
$2,359,000
5
6
6
38
16%
6,000 - 6,999
$2,700,000
5
6
7
11
64%
7,000+
$5,262,000
5
6
2
35
6%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLSÂŽ data reported previous monthâ&#x20AC;&#x2122;s sales exceeded current inventory.
OAHU
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
$2,317,938
$2,300,000
253
242
238
16
Jan-20
242
13
Feb-20
Mar-20
$3,000,000 $2,600,000
Solds
$2,725,000
$2,900,000 $2,425,000
$2,100,500
239
234
225
17
13
Dec-19
$2,890,000
$2,613,000
$2,570,000
Inventory
10 Apr-20
11
234
11
May-20
Jun-20
213
207
23
27
Aug-20
Sep-20
21 Jul-20
209
$2,345,000
$2,468,000
203
26
37
Nov-20
Dec-20
24 Oct-20
194
Median Data Inventory November
Solds
December
203
194 VARIANCE: -4 %
Sale Price Per SqFt. November
615 VARIANCE: 0 % $
December
26
37 VARIANCE: 42 %
November
$
2.35m
November
December
$
Days on Market November
95.95%
97.07% VARIANCE: 1 %
48
December
47 VARIANCE: -2 %
Oahu Market Summary | December 2020 • The Oahu single-family luxury market is a Balanced Market with a 19% Sales Ratio. • Homes sold for a median of 97.07% of list price in December 2020. • The most active price band is $2,050,000-$2,249,999, where the sales ratio is 89%. • The median luxury sales price for single-family homes has increased to $2,468,000. • The median days on market for December 2020 was 47 days, down from 48 in November 2020. 3
December
2.47m VARIANCE: 5 %
Sale to List Price Ratio
December
614
$
November
Sales Price
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.
OAHU
Attached Homes
Luxury Inventory vs. Sales | December 2020 Inventory
Sales
Luxury Benchmark Price 1: $835,000 $7,100,000+ $6,100,000 - $7,099,999 $5,300,000 - $6,099,999
$3,300,000 - $3,899,999 $2,700,000 - $3,299,999 $2,300,000 - $2,699,999
$1,300,000 - $1,599,999
0
1
10%
Total Sales Ratio2:
8
0
19
0
13
1
20
1
35
2 33
1
43
2 41
6 19
3
$900,000 - $999,999
45
10
$835,000 - $899,999
1
Buyer's Market
15
$1,100,000 - $1,299,999
$1,000,000 - $1,099,999
Total Sales: 34
8
$1,900,000 - $2,299,999 $1,600,000 - $1,899,999
345
Total Inventory:
4
0
$4,500,000 - $5,299,999
$3,900,000 - $4,499,999
8
0
34
7
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$937,500
2
2
4
70
6%
1,000 - 1,499
$1,019,998
2
2
16
120
13%
1,500 - 1,999
$1,012,500
3
2
10
66
15%
2,000 - 2,499
$1,140,000
3
3
3
42
7%
2,500 - 2,999
$4,625,000
3
4
1
19
5%
3,000+
NA
NA
NA
0
28
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% MLSÂŽ data reported previous monthâ&#x20AC;&#x2122;s sales exceeded current inventory.
OAHU
Attached Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$1,417,500
$1,360,000 $1,210,000
$1,225,000 $1,075,000
$1,043,000
393
393
381
52
33
37
Feb-20
Mar-20
32
Dec-19
Jan-20
390
$949,000
$937,500
375
384
31 Apr-20
420
415
21
14 May-20
$1,045,000
Jun-20
$1,167,500 $980,829
418
409
22
30
Aug-20
Sep-20
22 Jul-20
409
$1,030,000
398
345
31
34
Nov-20
Dec-20
24 Oct-20
$999,998
Median Data Inventory November
Solds
December
398
345 VARIANCE: -13 % Sale Price Per SqFt.
November
808 VARIANCE: -3 % $
December
31
34 VARIANCE: 10 %
November
1.03m
$
Sale to List Price Ratio
December
832
$
November
Sales Price
November
December
1.00m VARIANCE: -3 % $
Days on Market November
98.24%
97.47% VARIANCE: -1 %
63
December
44 VARIANCE: -30 %
Oahu Market Summary | December 2020 • The Oahu attached luxury market is a Buyer's Market with a 10% Sales Ratio. • Homes sold for a median of 97.47% of list price in December 2020. • The most active price band is $900,000-$999,999, where the sales ratio is 22%. • The median luxury sales price for attached homes has decreased to $999,998. • The median days on market for December 2020 was 44 days, down from 63 in November 2020. 3
December
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.
Maui Hawaii January 2021
MAUI
Single-Family Homes
Luxury Inventory vs. Sales | December 2020 Inventory
Sales
Luxury Benchmark Price 1: $1,422,000 $7,000,000+ $6,000,000 - $6,999,999
6
0
$5,000,000 - $5,999,999 $4,500,000 - $4,999,999
34
2
16
1
$3,500,000 - $3,999,999
12
20
3
$2,000,000 - $2,499,999
23
3
$1,900,000 - $1,999,999
7
2
$1,800,000 - $1,899,999
17%
6
3
$2,500,000 - $2,999,999
1
Total Sales Ratio2:
4
$3,000,000 - $3,499,999
6
1 4
0
$1,600,000 - $1,699,999
3
$1,500,000 - $1,599,999
3
$1,422,000 - $1,499,999
Balanced Market
7
1
157
Total Sales: 27
8
0
$4,000,000 - $4,499,999
$1,700,000 - $1,799,999
Total Inventory:
2 1
4
2
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$1,680,605
2
2
5
27
19%
2,000 - 2,999
$1,825,000
3
3
7
35
20%
3,000 - 3,999
$3,000,000
4
4
7
40
18%
4,000 - 4,999
$3,295,000
4
5
5
18
28%
5,000 - 5,999
$4,450,000
4
5
1
18
6%
6,000+
$21,500,000
7
8
2
19
11%
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% MLSÂŽ data reported previous monthâ&#x20AC;&#x2122;s sales exceeded current inventory.
MAUI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$2,750,000 $2,257,500
$2,450,000 $2,100,000
$2,311,200
$2,275,000 $1,820,000
220
219
18
213
15
Jan-20
Feb-20
Mar-20
$1,995,000
180
172
168
9
11
Dec-19
181
$1,990,000
13 Apr-20
$1,825,000
173
$2,025,000
$1,999,999
173
164
$2,262,500
182
173
11
9
9
21
15
May-20
Jun-20
Jul-20
Aug-20
Sep-20
26
27
Nov-20
Dec-20
20 Oct-20
157
Median Data Inventory November
Solds
December
182
157 VARIANCE: -14 % Sale Price Per SqFt.
November
854 VARIANCE: 3 % $
December
26
27 VARIANCE: 4 %
November
$
2.26m
November
December
$
Days on Market November
96.51%
97.30% VARIANCE: 1 %
69
December
74 VARIANCE: 7 %
Maui Market Summary | December 2020 • The Maui single-family luxury market is a Balanced Market with a 17% Sales Ratio. • Homes sold for a median of 97.30% of list price in December 2020. • The most active price band is $1,600,000-$1,699,999, where the sales ratio is 133%. • The median luxury sales price for single-family homes has increased to $2,750,000. • The median days on market for December 2020 was 74 days, up from 69 in November 2020.
3
December
2.75m VARIANCE: 22 %
Sale to List Price Ratio
December
829
$
November
Sales Price
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.
MAUI
Attached Homes
Luxury Inventory vs. Sales | December 2020 Inventory
Sales
Luxury Benchmark Price 1: $1,183,200 $4,000,000+
21
0
$3,000,000 - $3,999,999 $2,500,000 - $2,999,999
Total Sales Ratio2:
7
1
10
3
$1,500,000 - $1,599,999 $1,450,000 - $1,499,999
$1,300,000 - $1,349,999
12
6
1 15
1 10
2
$1,250,000 - $1,299,999
13
5
$1,183,200 - $1,249,999
1
12
5
0
21%
9
0
$1,600,000 - $1,699,999
$1,350,000 - $1,399,999
Seller's Market
15
2 2
$1,700,000 - $1,799,999
174
Total Sales: 37
2
$1,900,000 - $1,999,999
$1,400,000 - $1,449,999
Total Inventory:
13
4
$2,000,000 - $2,499,999
$1,800,000 - $1,899,999
14
3
20
3
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,399,500
2
2
2
21
10%
1,000 - 1,499
$1,500,000
2
2
4
67
6%
1,500 - 1,999
$1,498,000
2
3
25
40
63%
2,000 - 2,499
$3,237,500
3
4
2
21
10%
2,500 - 2,999
$2,500,000
3
4
4
21
19%
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% MLSÂŽ data reported previous monthâ&#x20AC;&#x2122;s sales exceeded current inventory.
MAUI
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
$2,275,000
$2,207,250
$1,980,000
Solds
$2,120,000
$2,370,000
$2,205,000
$1,900,000
$1,725,000
149
146
Dec-19
141
140
Jan-20
127
13
24
Feb-20
Mar-20
17
12
$1,495,000
$1,445,000
$1,425,000
21 Apr-20
9
8
May-20
Jun-20
15
Jul-20
31 Aug-20
176
172
151
147
136
117
116
$1,500,000
$1,475,000
Sep-20
37
21
20
9
174
Oct-20
Nov-20
Dec-20
Median Data Inventory November
Solds
December
176
174 VARIANCE: -1 %
Sale Price Per SqFt. November
$
952 VARIANCE: -22 % $
December
21
37 VARIANCE: 76 %
November
$
1.90m
November
December
December
1.50m VARIANCE: -21 %
Sale to List Price Ratio
December
1,216
November
Sales Price $
Days on Market November
100.00% 100.00% VARIANCE: 0 %
December
104
119 VARIANCE: 14 %
Maui Market Summary | December 2020 • The Maui attached luxury market is a Seller's Market with a 21% Sales Ratio. • Homes sold for a median of 100.00% of list price in December 2020. • The most active price band is $1,900,000-$1,999,999, where the sales ratio is 100%. • The median luxury sales price for attached homes has decreased to $1,500,000. • The median days on market for December 2020 was 119 days, up from 104 in November 2020.
3
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 January 2021
ISLAND OF HAWAII
Single-Family Homes
Luxury Inventory vs. Sales | December 2020 Inventory
Sales
Luxury Benchmark Price 1: $1,075,000 $10,000,000+ $8,600,000 - $9,999,999 $7,400,000 - $8,599,999
$4,400,000 - $5,199,999
4
0
6
Seller's Market 39%
8
0
6
3 5
2
$2,600,000 - $2,999,999
13
2
$2,200,000 - $2,599,999
8
3
13
1
$1,600,000 - $1,899,999
12
4
$1,400,000 - $1,599,999
7
5
$1,200,000 - $1,399,999
1
Total Sales Ratio2:
7
0
$3,000,000 - $3,599,999
$1,075,000 - $1,199,999
122
Total Sales: 47
3
1
$3,600,000 - $4,399,999
$1,900,000 - $2,199,999
Total Inventory:
0
$6,200,000 - $7,399,999
$5,200,000 - $6,199,999
13
3
6
3
11
1
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,562,500
3
3
9
39
23%
3,000 - 3,999
$2,302,196
4
4
10
17
59%
4,000 - 4,999
$3,387,500
5
6
4
20
20%
5,000 - 5,999
NA
NA
NA
0
6
0%
6,000 - 6,999
$17,300,000
3
5
1
3
33%
7,000+
$37,000,000
6
8
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.
ISLAND OF HAWAII
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds $2,025,000
$1,622,500
$1,798,750
$1,737,500 $1,320,000
20
18 Dec-19
Jan-20
$1,487,500
$1,780,000 $1,600,000
$1,750,000
$1,497,000
$1,250,000 165
160
154
145
$1,650,000
$1,569,500
156
149
14
14
Feb-20
Mar-20
12 Apr-20
144
138
14
10 May-20
Jun-20
18
28
Aug-20
Sep-20
21
Jul-20
143
141
133
132
122 47
29
22 Oct-20
Nov-20
Dec-20
Median Data Inventory November
December
132
122 VARIANCE: -8 %
Sale Price Per SqFt. November
December
661
$
714 VARIANCE: 8 % $
Solds November
Sales Price December
29
47 VARIANCE: 62 %
November
1.78m
$
1.75m VARIANCE: -2 %
Sale to List Price Ratio November
December
95.24%
96.67% VARIANCE: 2 %
$
Days on Market November
35
December
36 VARIANCE: 3 %
Island of Hawaii Market Summary | December 2020 • The Island of Hawaii single-family luxury market is a Seller's Market with a 39% Sales Ratio. • Homes sold for a median of 96.67% of list price in December 2020. • The most active price band is $1,400,000-$1,599,999, where the sales ratio is 71%. • The median luxury sales price for single-family homes has decreased to $1,750,000. • The median days on market for December 2020 was 36 days, up from 35 in November 2020.
3
December
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 | December 2020 Inventory
Sales
Luxury Benchmark Price 1: $925,000 $4,500,000+ $4,000,000 - $4,499,999 $3,500,000 - $3,999,999 $3,100,000 - $3,499,999
0 0
$2,100,000 - $2,399,999
1
Seller's Market Total Sales Ratio2:
2
41%
4
0
2
0
12
2
$1,600,000 - $1,799,999
5
6
5
1
2 2
$1,300,000 - $1,399,999 $1,200,000 - $1,299,999
4
2
$1,100,000 - $1,199,999
2
$1,000,000 - $1,099,999
3 4
3
5 5
$925,000 - $999,999
1
Total Sales: 27
6
0
$1,800,000 - $2,099,999
$1,400,000 - $1,599,999
66
Total Inventory: 8
0
$2,700,000 - $3,099,999 $2,400,000 - $2,699,999
4
3
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,340,000
2
2
2
2
100%
1,000 - 1,499
NA
NA
NA
0
8
0%
1,500 - 1,999
$975,000
3
3
3
21
14%
2,000 - 2,499
$1,187,500
3
3
8
12
67%
2,500 - 2,999
$1,400,000
4
4
6
5
120%
3,000+
$1,857,500
6
7
4
8
50%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
ISLAND OF HAWAII
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
Solds $2,975,000
$2,285,000 $1,700,000 $1,324,500
87
$1,200,000 87
86
17
8 Dec-19
Jan-20
$1,315,000
84
$1,117,050
$1,850,000
$1,750,000
$1,480,000
$1,395,000
94
84
$2,099,500
92
87
$1,300,000
82
69
79
12
9
5
5
6
8
13
9
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
69 19
66 27
13
Oct-20
Nov-20
Dec-20
Median Data Inventory November
December
November
Sales Price December
69
66 VARIANCE: -4 %
27 VARIANCE: 108 %
Sale Price Per SqFt.
Sale to List Price Ratio
November
$
Solds
December
1,880
566 VARIANCE: -70 % $
13
November
December
November
$
1.75m
1.30m VARIANCE: -26 % $
Days on Market November
100.00%
98.08% VARIANCE: -2 %
41
December
51 VARIANCE: 24 %
Island of Hawaii Market Summary | December 2020 • The Island of Hawaii attached luxury market is a Seller's Market with a 41% Sales Ratio. • Homes sold for a median of 98.08% of list price in December 2020. • The most active price band is $2,700,000-$3,099,999, where the sales ratio is 200%. • The median luxury sales price for attached homes has decreased to $1,300,000. • The median days on market for December 2020 was 51 days, up from 41 in November 2020.
3
December
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.
KAUAI
|
OAHU
|
MAUI
|
HAWAII ISLAND
Š2020 Corcoran Pacific Properties. All rights reserved. CorcoranŽ and the Corcoran Logo are registered service marks owned by Corcoran Group LLC. Corcoran Pacific Properties fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated.