Aloha
and welcome to The Oahu Quarterly Luxury Market Report from List Sotheby’s International Realty, where we take a closer look at the most recent real estate activity here on Oahu. The Oahu luxury home market report is listed into four single-family home categories and two condominium price segments. Single-family home sales for Q3 2020 priced from $1 to $2 million increased 20.5% compared to Q3 2019, with 282 homes sold in the quarter. With the increase in sales, months’ supply of inventory decreased 25.1% compared to 5.1 months last year. For single-family homes in the $2 to $3 million range, sales increased from 31 in Q3 2019 to 32 for Q3 2020, an increase of 3.2% from the year prior. Months’ supply of inventory decreased 20.8% to 11.1 months for the quarter.
sold in the third quarter. Months’ supply of inventory declined to 15.1 months from 19.3 months in Q3 2019. Seven single-family homes sold at or above $5 million in Q3 which includes four Windward Oahu homes, two Kahala homes, and one Sunset Area home. The top sale was at $10,488,000 for a home in Beachside. As for condominiums, four units closed in Q3 at or above $5 million which includes three units at Park Lane and one unit at The Ritz-Carlson Residences. The top sale was at $8,300,000 for a unit at Park Lane. Sales in the $800 thousand to $1 million range for Q3 2020 declined 53.4 percent from Q3 2019, falling to just 34 closed sales in Q3 from 73 closed sales in the third quarter last year. Months’ supply of inventory was up 22.7% to 10.4 months.
Twenty-three single-family home sales priced from $3 to $5 million sold in Q3 2020, a near-doubling compared to last year’s twelve homes
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FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through June 2020.
2020
#
$
JAPAN
5
CANADA
3
KOREA
2019
#
$
$8,400,000
JAPAN
68
$98,359,775
$3,689,000
KOREA
10
$14,187,000
2
$3,030,000
HONG KONG
5
UNITED KINGDOM
1
$1,803,100
CANADA
SINGAPORE
1
$1,150,000
TAIWAN
2018
#
$
JAPAN
133
KOREA
9
$8,809,000
TAIWAN
4
$6,106,000
CANADA
2
$2,443,000
2017
#
$
$188,796,404
JAPAN
82
$111,518,829
$13,176,500
CHINA
10
$14,214,165
8
$10,728,600
KOREA
3
$4,430,000
8
$10,575,100
TAIWAN
3
$3,466,758
CHINA
5
$6,057,400
CANADA
2
$2,875,000
2018
#
$
2017
#
$
$2 MILLION + 2020
#
$
JAPAN
8
SINGAPORE
2
CANADA HONG KONG NEW ZEALAND
2019
#
$
$36,141,333
JAPAN
33
$116,429,433
JAPAN
57
$220,699,504
JAPAN
63
$268,891,006
$11,800,000
KOREA
4
$10,220,900
KOREA
5
$24,808,800
HONG KONG
11
$66,957,353
2
$4,575,000
SINGAORE
2
$6,802,000
HONG KONG
3
$12,145,800
SINGAPORE
7
$33,980,786
1
$5,850,000
CANADA
1
$3,635,000
SINGAPORE
2
$18,403,800
CHINA
4
$16,244,754
1
$2,800,000
MALAYSIA
1
$2,400,000
CANADA
2
$5,848,800
KOREA
5
$15,740,000
All Data from the HiCentral MLS, Ltd. Report © 2020 ShowingTime.
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