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 broken down into four single-family home categories and two condominium price segments. Single-family home sales for Q3 2022 priced from $2 to $3 million declined 16.9% compared to Q3 2021, with 64 homes sold in the quarter versus 77 homes in the same period a year ago. Months’ supply of inventory increased 25.7% compared to last year, increasing to 4.9 months from 3.9 months. For single-family homes in the $3 to $5 million range, sales fell from 32 in Q3 2021 to 21 in Q3 2022, decreasing 34.4% from the same time last year. Months’ supply of inventory decreased 1.4% to 5.2 months from 5.3 months last year. In the $5 to $10 million range, 8 single-family homes sold in Q3 2022, down 20% from the 10 homes sold during the same quarter last year. Months’ supply of inventory increased by 49.9% to 14.5 months from 9.7 months in Q3 2021.
One single-family home sold at or above $10 million in Haleiwa during Q3 2022, down from two sales in that price range in Q3 2021. The sale was at $14,000,000 for a home in the Sunset/Velzy area. Months’ supply of inventory fell from 21 months in Q3 2021 to 7 months in the third quarter of 2022. Condo sales in the $1 to $2.5 million range decreased 11.8% in Q3 2022 from Q3 2021, with 97 closed sales in Q3 2022 versus 110 closed sales in the third quarter last year. Months’ supply of inventory fell 10.3% to 5.9 months from 6.5 months in Q3 2021. Sales for condos priced at $2.5 million and higher fell to 14 in Q3 2022 compared to 22 sales in Q3 2021, a decline of 36.4%. Months’ supply of inventory fell 25.7% compared to Q3 2021, to 9.9 months from 13.4 months. Two condos sold at or above $5 million in Q3, one unit at Waiea and one unit at Park Lane. The top sale was at $7,500,000 for a unit at Waiea.
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FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through June 2022.
2022
#
$
JAPAN
11
CANADA
2021
#
$
$15,060,900
JAPAN
64
6
$9,401,450
KOREA
11
KOREA
3
$5,287,000
CANADA
GUAM
2
$2,315,000
AMERICAN SAMOA
1
$1,600,000
2022
#
$
JAPAN
8
HONG KONG
2
AUSTRALIA BARBADOS CHINA
2020
#
$
$86,855,832
JAPAN
9
$14,210,150
CANADA
3
7
$10,389,250
KOREA
CHINA
6
$7,684,475
GUAM
5
$7,255,150
2021
#
$
$24,466,000
JAPAN
19
$4,600,000
KOREA
4
1
$8,000,000
CANADA
1
$6,000,000
HONG KONG
1
$5,600,000
2019
#
$
$14,331,133
JAPAN
68
$98,359,775
$3,689,000
KOREA
10
$14,187,000
2
$3,030,000
HONG KONG
5
$8,809,000
UNITED KINGDOM
1
$1,925,000
CANADA
4
$6,106,000
SINGAPORE
1
$1,803,100
TAIWAN
2
$2,443,000
2020
#
$
2019
#
$
$80,643,283
JAPAN
13
$48,241,333
JAPAN
33
$116,429,433
$20,150,000
CANADA
4
$11,755,000
KOREA
4
$10,220,900
4
$14,175,200
SINGAPORE
2
$11,800,000
SINGAORE
2
$6,802,000
2
$10,150,000
GUAM
2
$6,925,000
CANADA
1
$3,635,000
$5,800,000
MALAYSIA
1
$2,400,000
$2 MILLION +
TAIWAN
1
All Data from the HiCentral MLS, Ltd. Report © 2022 ShowingTime.
$4,050,000
NEW ZEALAND
2
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