OAHU
|
HAWAII ISLAND
|
MAUI
|
KAUAI
Luxury Market Report Hawaii, December 2023
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 17+ 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 200+ 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.
Gregg Antonsen
SVP, Luxury Sales gregg.antonsen@corcoranpacific.com
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
North Shore Office 66-590 Kamehameha Hwy, Unit 1 Haleiwa, HI 96712 (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
Support for Maui Wildfire Relief
Page 8-13
Oahu Market Review
Page 14-19
Island of Hawaii Market Review
Page 20-25
Maui Market Review
Page 26-31
Kauai Market Review
Page 33-36
North American Luxury Market Review
Page 37
13-Month Market Trends
Page 38
Single-Family Homes Monthly Overview
Page 39
Attached Homes Monthly Overview
Page 48
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
Map of Luxury Residential Markets
W
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.
Hawaii
Luxury Market Review Corcoran Pacific Properties is pleased to present a closer look at the luxury real estate market in Hawaii, which includes a detailed statistical analysis for your in-depth review on Oahu, the Island of Hawaii, Maui and Kauai for November 2023. What will surprise many, given the seemingly lethargic nature of the current market, is that for the most part the number of sales and median sold price points do not vary greatly compared to November 2022, for both the entire luxury market as well as for each of the islands. Comparatively, the number of sales in this segment of the market has fallen by only seven from 79 to 72 for single-family homes and by four from 107 to 103 for attached properties, whereas the median sold price has risen by 2% and 12% respectively. However, there is one significant change - which is not a negative given that the luxury market has, since early 2021, registered inventory levels well-below traditional norms - as of November 2023 the number of homes available for sale has started to more closely resemble pre-covid levels. Across the Hawaiian Islands, for both single-family homes and attached properties, this increase in inventory has resulted in the luxury segment showing signs of a transition to a buyer’s market – except for Kauai where greater demand for attached properties offset the increase in inventory. It is not unexpected for sales to decline month over month in the last quarter of the year – in fact prior to 2020 its was the norm. Indeed, in the new year this comparative increase of inventory could foster greater activity in high-end sales, because it can be argued that it was primarily due to the lack of supply, as opposed to a lack of demand during 2023, that often proved to be the roadblock for buyers. If mortgage rates continue to fall, as many economists predict and as investment dollars are withdrawn from CD’s and similar investments, we could see a gradual uptick in sales as buyers are drawn to take advantage of the greater number of homes available for sale. However, given the propensity of home sellers not to reduce their prices, buyers should still not expect to see any sudden price drops, rather instead the opportunity will lie in finding properties that match their requirements and offer greater value for money in lifestyle amenities and features deemed requisite. As in all markets, there are always opportunities and challenges for buyers and sellers for certain property locations, types and price points. The opportunity to work closely with a real estate expert familiar with local trends is the best resource to navigate the specific and varied markets found within the Hawaiian Islands. One final message: Season’s greetings and best wishes for a happy, healthy, and prosperous holiday season from all of us at Corcoran Pacific Properties.
December
2023
Oahu Hawaii
OAHU
Single-Family Homes
Luxury Inventory vs. Sales | November 2023 Inventory
Sales
Luxury Benchmark Price 1: $1,750,000 $9,500,000+
20
0
$8,500,000 - $9,499,999 $7,500,000 - $8,499,999
$5,500,000 - $6,499,999
15
0
12
1
$3,500,000 - $4,099,999
11
1
18
0
$2,700,000 - $3,099,999
21
3
$2,300,000 - $2,699,999 $2,100,000 - $2,299,999
17
2
24
4
$1,800,000 - $1,899,999
1
31
5
$1,900,000 - $2,099,999
$1,750,000 - $1,799,999
Total Sales Ratio2: 13%
9
2
$4,100,000 - $4,699,999
$3,100,000 - $3,499,999
Buyer’s Market
9
2
230
Total Sales: 31
8
0
$6,500,000 - $7,499,999
$4,700,000 - $5,499,999
Total Inventory:
4
2
13
7
18
2
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,975,000
4
3
15
83
18%
3,000 - 3,999
$1,872,950
5
3
4
57
7%
4,000 - 4,999
$2,925,000
5
4
4
32
13%
5,000 - 5,999
$2,160,000
6
5
3
16
19%
6,000 - 6,999
$4,187,500
8
6
2
13
15%
7,000+
$8,500,000
5
6
3
26
12%
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
$2,343,750
223
$2,285,000
$2,300,000
$2,394,000
181
173
203
36
33
Nov-22
Dec-22
11
Jan-23
$2,357,500
Solds
$2,750,000
$2,675,000
$2,500,000 $2,150,000
193
175
Inventory
$2,080,000
188
230
211
206
199
193
187
$2,385,000
$2,327,500
$2,325,000
36
38
29
35
43
31
43
34
28
31
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Median Data Review | November Total Inventory
Total Solds
Sales Price
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
223
230
36
31
3%
VARIANCE: -
VARIANCE:
Sale Price Per SqFt. Nov. 2022
$
843
Nov. 2022
Nov. 2023
2.34m
$
$
14%
VARIANCE:
Sale to List Price Ratio
2%
Days on Market
Nov. 2023
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
827
100.00%
98.19%
17
30
$
2
VARIANCE: - %
2
VARIANCE: - %
VARIANCE:
Oahu Market Summary | November 2023 • The Oahu single-family luxury market is a Buyer's Market with a 13% Sales Ratio. • Homes sold for a median of 98.19% of list price in November 2023.
• The most active price band is $1,800,000-$1,899,999, where the sales ratio is 54%. • The median luxury sales price for single-family homes is $2,385,000.
• The median days on market for November 2023 was 30 days, up from 17 in November 2022.
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
2.39m
76%
OAHU
Attached Homes
Luxury Inventory vs. Sales | November 2023 Inventory
Sales
Luxury Benchmark Price 1: $750,000 $7,000,000+ $6,000,000 - $6,999,999
1
$5,200,000 - $5,999,999
$4,400,000 - $5,199,999 $3,800,000 - $4,399,999 $3,200,000 - $3,799,999
3
$900,000 - $999,999
Total Sales Ratio2: 13%
10
0
16
1
15
3
22
1
36
4
44
3
$1,200,000 - $1,499,999 $1,000,000 - $1,199,999
Buyer’s Market
6
0
74
6
43
4
1
52
11
$800,000 - $899,999 $750,000 - $799,999
489
Total Sales: 64
10
$1,800,000 - $2,199,999 $1,500,000 - $1,799,999
Total Inventory:
1
$2,600,000 - $3,199,999 $2,200,000 - $2,599,999
12
2
86
16 60
11
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$825,000
1
1
20
167
12%
1,000 - 1,499
$935,000
2
2
29
177
16%
1,500 - 1,999
$1,402,500
3
2
6
79
8%
2,000 - 2,499
$3,000,000
3
2
5
37
14%
2,500 - 2,999
$3,420,000
3
3
3
12
25%
3,000+
$8,400,000
3
3
1
17
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% MLS® data reported previous month’s sales exceeded current inventory.
OAHU
Attached Homes
13-Month Luxury Market Trend4 Median Sales Price
$987,500
$937,500
$915,000
459
451
460
$972,500
460
$1,000,000
465
457
60
62
50
58
Nov-22
Dec-22
Jan-23
Feb-23
$950,000
Inventory
$938,000
$900,000
440
431
Solds
$989,477
$965,000
$982,100
$989,400
454
432
449
472
$935,000
489
103
91
79
91
88
84
94
94
64
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Median Data Review | November Total Inventory
Total Solds
Sales Price
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
459
489
60
64
7%
VARIANCE:
7%
VARIANCE:
Sale Price Per SqFt. Nov. 2022
$
795
Nov. 2023
938k
$
$
VARIANCE:
Sale to List Price Ratio
0%
Days on Market
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
1,016
98.54%
96.47%
30
44
28%
2
VARIANCE: - %
VARIANCE:
Oahu Market Summary | November 2023 • The Oahu attached luxury market is a Buyer's Market with a 13% Sales Ratio. • Homes sold for a median of 96.47% of list price in November 2023.
• The most active price band is $6,000,000-$6,999,999, where the sales ratio is 33%. • The median luxury sales price for attached homes is $935,000.
• The median days on market for November 2023 was 44 days, up from 30 in November 2022.
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
935k
Nov. 2023
$
VARIANCE:
Nov. 2022
47%
OAHU
Sales Activity
Single-Family Metric
Closed Sales
Median Sales Price
(in millions)
Months Supply of Inventory
Attached
Year
$1-2 Million
$2-3 Million
$3-5 Million
$5 Million+
$800K $1 Million
$1 Million+
2017
732
108
50
13
318
660
2018
794
86
46
27
282
352
2019
775
94
37
21
261
309
2020
931
115
57
27
183
188
2021
1,710
302
132
47
464
497
2022
1,765
232
110
54
530
510
2023 YTD
1,012
139
53
38
287
360
2017
$1,250,000
$2,377,500
$3,525,000
$6,388,000
$875,000
$1,777,500
2018
$1,255,000
$2,372,500
$3,662,500
$7,200,000
$888,000
$1,550,000
2019
$1,250,000
$2,300,000
$3,688,000
$5,800,000
$890,000
$1,495,000
2020
$1,265,000
$2,325,000
$3,500,000
$6,800,000
$878,000
$1,325,000
2021
$1,270,000
$2,450,000
$3,600,000
$6,700,000
$875,000
$1,350,000
2022
$1,300,000
$2,368,750
$3,600,000
$6,575,000
$870,000
$1,355,000
2023 YTD
$1,280,000
$2,365,000
$3,587,000
$7,100,000
$888,000
$1,386,500
2017
4.7
9.8
13.3
40.2
5.1
5.9
2018
5.6
12.1
14.8
21.6
6.8
11.7
2019
5.6
12.9
18.6
36.0
8.3
11.6
2020
3.6
8.2
11.8
26.7
7.2
20.4
2021
1.9
3.2
4.9
13.2
2.8
6.0
2022
2.5
4..4
11.8
11.0
5.8
12.1
2023 YTD
3.1
6.9
26.0
9.0
5.1
11.2
December
2023
Island of Hawaii
ISLAND OF HAWAII
Single-Family Homes
Luxury Inventory vs. Sales | November 2023 Inventory
Sales
Luxury Benchmark Price 1: $1,100,000 $9,000,000+ $7,800,000 - $8,999,999 $6,800,000 - $7,799,999
$5,800,000 - $6,799,999 $5,000,000 - $5,799,999
0
0 0
$2,800,000 - $3,399,999
$1,300,000 - $1,399,999
$1,200,000 - $1,299,999 $1,100,000 - $1,199,999
1
4
Total Sales: 18
4
Buyer’s Market
205
Total Sales Ratio2: 9% 13
1
12
0
12
1
14
2
$2,000,000 - $2,399,999
$1,400,000 - $1,699,999
Total Inventory:
5
$2,400,000 - $2,799,999
$1,700,000 - $1,999,999
4
0
$4,200,000 - $4,999,999 $3,400,000 - $4,199,999
16
1
15
2
22
1
21
1
21
3
25
3 17
3
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,499
$1,125,000
3
2
1
18
6%
1,500 - 1,999
$1,200,000
4
2
3
39
8%
2,000 - 2,499
$1,350,000
3
3
5
35
14%
2,500 - 2,999
$2,650,000
3
3
3
31
10%
3,000 - 3,499
$1,500,000
3
3
1
21
5%
3,500+
$3,100,000
5
4
5
59
8%
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
$2,325,000
$1,800,000
120
$1,427,500
$1,439,000
135
132
$1,512,500
134
127
$1,666,600
$1,500,000
$1,550,000
$1,512,500
154
145
156
119
$1,587,500
$1,445,000
$1,435,500 205
191
175
161
$1,600,000
20
24
18
14
24
22
33
37
26
38
28
33
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
18 Nov-23
Median Data Review | November Total Inventory
Total Solds
Sales Price
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
120
205
20
18
VARIANCE:
71%
VARIANCE: -
Sale Price Per SqFt. Nov. 2022
$
10%
Nov. 2022
Nov. 2023
2.33m
$
$
VARIANCE: -
Sale to List Price Ratio
38%
Days on Market
Nov. 2023
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
683
94.27%
96.77%
43
48
779
$
VARIANCE: -
12%
VARIANCE:
3%
VARIANCE:
Island of Hawaii Market Summary | November 2023 • The Island of Hawaii single-family luxury market is a Buyer's Market with a 9% Sales Ratio. • Homes sold for a median of 96.77% of list price in November 2023.
• The most active price band is $1,100,000-$1,199,999, where the sales ratio is 18%. • The median luxury sales price for single-family homes is $1,435,500.
• The median days on market for November 2023 was 48 days, up from 43 in November 2022.
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
1.44m
12%
ISLAND OF HAWAII
Attached Homes
Luxury Inventory vs. Sales | November 2023 Inventory
Sales
Luxury Benchmark Price 1: $950,000 $4,500,000+ $4,000,000 - $4,499,999 $3,500,000 - $3,999,999
0
0
$2,400,000 - $2,699,999
$1,100,000 - $1,199,999
1
Total Sales Ratio2: 19%
3 5
2 3
1 0 0 0
1 1 1
4
0 3
1 2 2
$1,000,000 - $1,099,999 $950,000 - $999,999
Total Sales: 8 Balanced Market
1
$1,300,000 - $1,399,999 $1,200,000 - $1,299,999
2
0
$1,800,000 - $2,099,999
$1,400,000 - $1,599,999
Total Inventory: 42
0
$2,100,000 - $2,399,999
$1,600,000 - $1,799,999
2
1 1
$3,100,000 - $3,499,999 $2,700,000 - $3,099,999
9
0
4
1
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
4
0%
1,000 - 1,499
$1,008,000
2
2
3
11
27%
1,500 - 1,999
$1,111,500
3
3
2
8
25%
2,000 - 2,499
$2,675,000
4
3
2
10
20%
2,500 - 2,999
NA
NA
NA
0
7
0%
3,000+
$1,900,000
7
7
1
2
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 Median Sales Price
Inventory
Solds $2,397,500
$1,575,000
$1,570,000 $1,262,500
$1,217,000
72
63
51
$1,251,250
$1,198,000
$1,300,000
$1,550,000
$1,475,000
$1,300,000
$1,242,000
$1,212,500
67
60
50
43 28
13
11
10
12
17
15
13
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
19
Jun-23
21
14
Jul-23
25
29
17
Aug-23
42
33 18
Sep-23
9
8
Oct-23
Nov-23
Median Data Review | November Total Inventory
Total Solds
Sales Price
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
51
42
13
8
VARIANCE: -
18%
Sale Price Per SqFt. Nov. 2022
$
VARIANCE: -
38%
Nov. 2022
Nov. 2023
1.22m
$
$
VARIANCE:
Sale to List Price Ratio
2%
Days on Market
Nov. 2023
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
901
95.60%
99.85%
38
5
679
$
VARIANCE:
33%
VARIANCE:
4%
VARIANCE: -
Island of Hawaii Market Summary | November 2023 • The Island of Hawaii attached luxury market is a Balanced Market with a 19% Sales Ratio. • Homes sold for a median of 99.85% of list price in November 2023.
• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 100%. • The median luxury sales price for attached homes is $1,242,000.
• The median days on market for November 2023 was 5 days, down from 38 in November 2022.
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
1.24m
87%
ISLAND OF HAWAII
Sales Activity
Single-Family Metric
Closed Sales
Median Sales Price
(in millions)
Months Supply of Inventory
Attached
Year
$1-2 Million
$2-3 Million
$3-5 Million
$5 Million+
$800K $1 Million
$1 Million+
2017
95
24
11
29
42
89
2018
104
17
17
15
41
88
2019
131
21
7
27
48
79
2020
182
31
26
33
53
126
2021
247
59
45
70
125
236
2022
247
62
30
30
75
175
2023 YTD
199
40
18
22
42
115
2017
$1,374,000
$2,424,000
$4,100,000
$7,950,000
$899,500
$1,600,000
2018
$1,349,000
$2,495,005
$3,950,000
$7,500,000
$880,000
$1,945,000
2019
$1,295,000
$2,500,000
$3,100,000
$7,725,000
$900,000
$1,450,000
2020
$1,295,000
$2,600,000
$3,999,500
$6,950,000
$905,000
$1,700,000
2021
$1,399,000
$2,450,000
$3,950,000
$8,450,000
$877,000
$1,592,500
2022
$1,293,000
$2,300,000
$3,525,000
$9,673,750
$892,500
$1,650,000
2023 YTD
$1,300,808
$2,450,000
$3,700,000
$8,097,500
$910,000
$1,549,000
2017
15.8
19.9
21.3
20.7
13.5
20.4
2018
14.8
17.5
20.2
19.9
9.6
12.9
2019
14.2
18.6
23.9
17.0
11.7
14.1
2020
9.8
13.5
14.0
15.2
5.1
7.1
2021
5.1
8.3
9.1
8.6
2.7
5.1
2022
3.3
6.4
25.0
25.0
4.6
5.3
2023 YTD
7.3
8.5
15.5
35.0
7.0
5.4
December
2023
Maui Hawaii
MAUI
Single-Family Homes
Luxury Inventory vs. Sales | November 2023 Inventory
Sales
Luxury Benchmark Price 1: $1,500,000 Total Inventory: 145 $12,000,000+ $9,900,000 - $11,999,999 $7,900,000 - $9,899,999
13
0
19
2 10
0
18
1
$3,400,000 - $3,899,999
7
1
$2,900,000 - $3,399,999
14
2
$2,400,000 - $2,899,999
4
0
$1,500,000 - $1,599,999
1
8
2
13
0
$1,700,000 - $1,799,999
$1,600,000 - $1,699,999
13
3
$2,000,000 - $2,199,999 $1,800,000 - $1,999,999
Total Sales Ratio2: 10%
6
0
$3,900,000 - $4,899,999
$2,200,000 - $2,399,999
Buyer’s Market
5
0
$5,900,000 - $7,899,999 $4,900,000 - $5,899,999
Total Sales: 14
4
2
9
0 1
2
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$2,150,000
3
3
3
31
10%
2,000 - 2,999
$1,967,500
4
4
4
46
9%
3,000 - 3,999
$3,007,500
5
4
4
34
12%
4,000 - 4,999
$4,300,000
4
5
2
22
9%
5,000 - 5,999
$6,700,000
4
5
1
6
17%
6,000+
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.
MAUI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$3,244,136 $2,718,802
$2,880,000
$2,495,000
$2,758,600
$2,600,000
$2,431,500
$2,275,000
$2,162,500
$2,159,500
$2,625,000
$2,350,000
$1,810,000 152
145
136
154
148
150
144
161
150
15
14
20
11
18
11
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
145
134
127
113 29
22
21
17
25
15
14
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Median Data Review | November Total Inventory
Total Solds
Sales Price
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
136
145
15
14
7%
VARIANCE: - %
VARIANCE:
$
Nov. 2023
1.81m
$
$
7
Sale Price Per SqFt. Nov. 2022
Nov. 2022
VARIANCE:
Sale to List Price Ratio
45%
Days on Market
Nov. 2023
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
936
96.88%
94.88%
94
149
VARIANCE:
59%
917
$
VARIANCE:
2%
2
VARIANCE: - %
Maui Market Summary | November 2023 • The Maui single-family luxury market is a Buyer's Market with a 10% Sales Ratio. • Homes sold for a median of 94.88% of list price in November 2023.
• The most active price band is $1,700,000-$1,799,999, where the sales ratio is 50%. • The median luxury sales price for single-family homes is $2,625,000.
• The median days on market for November 2023 was 149 days, up from 94 in November 2022.
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
2.63m
MAUI
Attached Homes
Luxury Inventory vs. Sales | November 2023 Inventory
Sales
Luxury Benchmark Price 1: $1,200,000 $4,500,000+ $3,600,000 - $4,499,999
Total Sales Ratio2: 14%
4
8
0
8
1
$1,800,000 - $1,899,999
Buyer’s Market
7
1
$1,900,000 - $1,999,999
10
1
$1,700,000 - $1,799,999
2
$1,600,000 - $1,699,999
3 8
1
$1,500,000 - $1,599,999
10
2
11
0
$1,300,000 - $1,399,999
1
8
1
$2,200,000 - $2,399,999
146
Total Sales: 21
2
$2,400,000 - $2,599,999
$1,200,000 - $1,299,999
Total Inventory: 6
3
$2,600,000 - $3,099,999
$1,400,000 - $1,499,999
13
2
$3,100,000 - $3,599,999
$2,000,000 - $2,199,999
18
4
15
1
17
0
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,575,000
0
1
3
43
7%
1,000 - 1,499
$1,829,850
2
2
5
50
10%
1,500 - 1,999
$2,404,550
3
3
7
38
18%
2,000 - 2,499
NA
NA
NA
0
6
0%
2,500 - 2,999
$3,720,475
4
4
2
6
33%
3,000+
$8,860,100
4
5
4
3
133%
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 Median Sales Price
Inventory
Solds $2,604,550
$2,400,000
$1,595,000
$1,982,500
$1,795,000
$2,150,000
$1,902,925
$1,850,000 $1,515,000
$1,562,500
$1,550,000
$1,512,500
$1,475,000
96
92
146 87
78
97
91
91
82
84
82
25
15
9
18
22
25
24
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
37
Jun-23
86 18
27
Jul-23
Aug-23
110
16
24
21
Sep-23
Oct-23
Nov-23
Median Data Review | November Total Inventory
Total Solds
Sales Price
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
78
146
25
21
VARIANCE:
87%
VARIANCE: -
Sale Price Per SqFt.
Nov. 2022
Nov. 2023
1.60m
$
$
16%
VARIANCE:
Sale to List Price Ratio
2.60m 63%
Days on Market
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
1,525
$
1,495
97.30%
100.00%
82
963
$
2
VARIANCE: - %
VARIANCE:
3%
VARIANCE:
Maui Market Summary | November 2023 • The Maui attached luxury market is a Buyer's Market with a 14% Sales Ratio. • Homes sold for a median of 100.00% of list price in November 2023.
• The most active price band is $1,700,000-$1,799,999, where the sales ratio is 67%. • The median luxury sales price for attached homes is $2,604,550.
• The median days on market for November 2023 was 963 days, up from 82 in November 2022.
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
1074%
MAUI
Sales Activity
Single-Family Metric
Closed Sales
Median Sales Price
(in millions)
Months Supply of Inventory
Attached
Year
$1-2 Million
$2-3 Million
$3-5 Million
$5 Million+
$800K $1 Million
$1 Million+
2017
168
39
32
15
99
192
2018
190
31
30
13
120
285
2019
215
47
25
13
118
247
2020
218
51
34
11
140
273
2021
404
126
79
68
292
583
2022
409
98
55
41
238
489
2023 YTD
250
48
41
31
146
280
2017
$1,265,000
$2,400,000
$3,600,000
$8,025,444
$900,000
$1,700,000
2018
$1,328,000
$2,285,000
$3,625,000
$9,250,000
$887,450
$1,440,000
2019
$1,270,000
$2,400,000
$3,270,000
$6,500,000
$864,875
$1,495,000
2020
$1,312,500
$2,390,000
$3,575,000
$6,400,000
$862,500
$1,685,000
2021
$1,300,000
$2,467,500
$3,800,000
$7,625,000
$880,000
$1,620,000
2022
$1,277,000
$2,212,500
$3,700,000
$7,700,000
$890,000
$1,495,000
2023 YTD
$1,277,200
$2,350,000
$3,725,000
$7,000,000
$889,000
$1,572,500
2017
12.9
15.8
19.5
19.9
14.2
21.4
2018
13.8
16.4
16.5
21.7
14.4
24.9
2019
12.3
16.5
19.3
24.9
13.6
25.8
2020
10.4
13.5
14.8
20.4
11.8
23.4
2021
5.4
7.5
8.8
14.2
7.3
14.2
2022
3.3
9.8
16.0
24.0
2.9
5.1
2023 YTD
3.8
6.8
8.5
25.0
5.5
7.3
December
2023
Kauai Hawaii
KAUAI
Single-Family Homes
Luxury Inventory vs. Sales | November 2023 Inventory
Sales
Luxury Benchmark Price 1: $1,200,000 $6,000,000+ $5,400,000 - $5,999,999 $4,900,000 - $5,399,999
$4,400,000 - $4,899,999 $3,900,000 - $4,399,999
16
0 0
1
0
8
0 3
1
10
0
4
0 2 2
$1,400,000 - $1,499,999
$1,300,000 - $1,399,999
1
4
2
$1,800,000 - $2,199,999
$1,200,000 - $1,299,999
4
1
$2,600,000 - $2,999,999
$1,500,000 - $1,599,999
Total Sales Ratio2 12%
1 1
$3,000,000 - $3,399,999
$1,600,000 - $1,799,999
Buyer’s Market 4
0
75
Total Sales: 9
3
0
$3,400,000 - $3,899,999
$2,200,000 - $2,599,999
Total Inventory:
5
4
2
6
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
0
NA
2 Bedrooms
NA
NA
NA
0
6
0%
3 Bedrooms
$1,650,000
196
2
4
26
15%
4 Bedrooms
$3,250,000
13
3
2
27
7%
5 Bedrooms
$1,375,000
96
4
2
7
29%
6+ Bedrooms
$3,000,000
168
4
1
9
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% MLS® data reported previous month’s sales exceeded current inventory.
KAUAI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds $2,595,000
$2,200,000
$2,132,223 $1,812,500
$1,629,504
$1,995,000
$1,850,000
$1,775,000
$1,624,500
$1,560,000
73 55
54
$2,250,000
$2,200,000
$2,175,000
54
52
51
8
6
3
6
3
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
76
75
74
67
49
75
43 10
11
14
Apr-23
May-23
Jun-23
7
5
4
5
9
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Median Data Review | November Total Inventory
Total Solds
Sales Price
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
54
75
8
9
39%
VARIANCE:
VARIANCE:
Sale Price Per SqFt.
Nov. 2022
Nov. 2023
1.81m
$
$
13%
1.85m
VARIANCE:
Sale to List Price Ratio
2%
Days on Market
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
N/A
N/A
96.76%
93.75%
36
59
VARIANCE:
N/A
3
VARIANCE: - %
VARIANCE:
Kauai Market Summary | November 2023 • The Kauai single-family luxury market is a Buyer's Market with a 12% Sales Ratio. • Homes sold for a median of 93.75% of list price in November 2023.
• The most active price band is $1,400,000-$1,499,999, where the sales ratio is 100%. • The median luxury sales price for single-family homes is $1,850,000.
• The median days on market for November 2023 was 59 days, up from 36 in November 2022.
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
64%
KAUAI
Attached Homes
Luxury Inventory vs. Sales | November 2023 Inventory
Sales
Luxury Benchmark Price 1: $950,000 $3,500,000+ $3,000,000 - $3,499,999 $2,500,000 - $2,999,999
0
0
6
1
1 1
$1,300,000 - $1,399,999
1
2
2
$1,400,000 - $1,499,999
$950,000 - $999,999
Total Sales Ratio2: 25%
0
1 1
$1,000,000 - $1,099,999
Seller’s Market
1
$1,500,000 - $1,599,999
$1,100,000 - $1,199,999
Total Sales: 10
2
1
$1,600,000 - $1,699,999
$1,200,000 - $1,299,999
Total Inventory: 40
1
1
$1,800,000 - $1,899,999 $1,700,000 - $1,799,999
2
0
$2,000,000 - $2,499,999 $1,900,000 - $1,999,999
6
2
2
1
8
0 4
0 2
0 0
2
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
4
0%
2 Bedrooms
$1,600,000
9
2
5
19
26%
3 Bedrooms
$1,585,000
155
3
3
15
20%
4 Bedrooms
$4,310,000
11
3
2
2
100%
5 Bedrooms
NA
NA
NA
0
0
NA
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 Median Sales Price
Inventory
Solds
$1,725,000 $1,500,000 $1,225,000
$1,345,000
$1,329,100
49
9
7
Nov-22
Dec-22
44
41
39
11
11
Jan-23
Feb-23
32
17
Mar-23
7
7
Apr-23
May-23
11
12
Jun-23
Jul-23
40
35
33
30
27
$1,592,500
$1,367,500
$1,237,500
$1,150,000
$1,100,000 52
51
$1,600,000
$1,482,500
$1,425,000
18 6
8
9
10
Aug-23
Sep-23
Oct-23
Nov-23
Median Data Review | November Total Inventory
Total Solds
Sales Price
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
51
40
9
10
VARIANCE: -
22%
Sale Price Per SqFt.
VARIANCE:
Nov. 2022
Nov. 2023
1.23m
$
$
11%
VARIANCE:
Sale to List Price Ratio
1.59m 30%
Days on Market
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
Nov. 2022
Nov. 2023
N/A
N/A
98.94%
100.00%
11
12
VARIANCE:
N/A
VARIANCE:
9%
VARIANCE:
1%
Kauai Market Summary | November 2023 • The Kauai attached luxury market is a Seller's Market with a 25% Sales Ratio. • Homes sold for a median of 100.00% of list price in November 2023.
• The most active price bands are $1,400,000-$1,499,999 and $1,500,000-$1,599,999, where the sales ratio is 100%.
• The median luxury sales price for attached homes is $1,592,500.
• The median days on market for November 2023 was 12 days, up from 11 in November 2022. 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
KAUAI
Sales Activity
Single-Family Metric
Closed Sales
Median Sales Price
(in millions)
Months Supply of Inventory
Attached
Year
$1-2 Million
$2-3 Million
$3-5 Million
$5 Million+
$800K $1 Million
$1 Million+
2017
61
13
6
3
34
40
2018
66
17
7
17
51
55
2019
57
15
10
4
68
51
2020
85
17
11
12
59
41
2021
140
59
30
31
103
175
2022
247
62
30
30
75
175
2023 YTD
63
28
14
7
32
78
2017
$1,285,000
$2,450,000
$3,800,000
$11,000,000
$868,758
$1,250,000
2018
$1,262,500
$2,500,000
$3,700,000
$8,702,400
$864,988
$1,500,000
2019
$1,395,000
$2,550,000
$3,650,000
$5,900,000
$897,129
$1,380,000
2020
$1,300,000
$2,300,000
$3,820,000
$7,700,000
$857,000
$1,350,000
2021
$1,471,500
$2,450,000
$3,500,000
$8,500,000
$895,000
$1,395,000
2022
$1,293,000
$2,300,000
$3,525,000
$9,673,750
$892,500
$1,650,000
2023 YTD
$1,250,000
$2,422,500
$3,275,000
$6,950,000
$920,000
$1,427,500
2017
12.6
19.9
24.8
23.9
10.5
16.0
2018
11.6
18.0
23.9
21.9
9.9
16.5
2019
10.7
16.1
16.5
21.6
9.0
17.2
2020
7.0
13.4
12.7
19.5
7.4
13.2
2021
4.8
9.3
6.7
12.4
4.9
6.6
2022
3.3
6.4
25.0
25.0
4.6
5.3
2023 YTD
4.6
4.0
10.0
27.0
2.0
6.0
Luxury IS IN
EACH DETAIL. HUBERT DE GIVENCHY
North American Luxury Review The Glimmer of Change Grows Brighter Last month, we reported a glimmer of hope as the luxury market, for the first time in 2023, witnessed an increase in the number of sold properties and new inventory entering the market compared to the same month in 2022. This encouraging trend continues this month.
The Numbers are Up Compared to November 2022, the number of sales last month rose 5.1% for single-family homes and 13.7% for attached homes. This is not the only growth statistic that could show the start, albeit a slow one, of a market comeback. The number of new listings entering the market last month also increased compared to November 2022, by 21.1% for single-family homes and 29.3% for attached properties. The rise in new inventory entering the market is equally significant as it shows a growing confidence by sellers compared to last year. Lack of new inventory has been one of the most significant challenges to the growth of sales during most of 2023, as it created a roadblock for opportunity. This was especially significant in a market where buyers had become highly specific in their property specification preferences. As we noted last month, an increase in new listings has opened the door for this uptick in sold properties. This would not be the outcome, especially at this time of year, if the market was moving in a downward trajectory. Other statistical parameters are also showing growth indications. The median sold price rose year-over-year just under 2% for single-family homes and over 5.3% for attached properties. The sold-price-to-list-price ratio also increased slightly by 0.2% to 98.2% for single-family homes and 0.6% to 99.0% for attached properties. It is important to reiterate that these are not month-over-month increases, nor should there be an expectation of growth at this time of year. However, importantly, what has happened is a much slower rate in the slowdown of
sales and new inventory than typically expected in November. This, again, is a positive indicator of seller and buyer optimism.
Interest Rates Trend Down This turn of events has also been bolstered by the much-publicized decreases in interest rates over the last month. Not because the rate has decreased significantly, but for the first time since March 2022, there is a definite indication of a halt in the rise of mortgage costs. So, the big question is will interest rates fall in 2024? Fannie Mae forecasts that rates will drop from 7.6% to 7.1% during 2024. The National Association of Realtors is slightly more optimistic, with predictions of 7.5% in Quarter 1 and 6.3% in Quarter 4. The Mortgage Bankers Association predicts an even lower rate of 6.1% by the end of 2024.1
In Canada, rates are predicted to fall even further. Currently around 7.2%, the Prime Rate is expected to drop as low as 5.95% by the end of 2024. However, much of this depends on whether the Canadian government can reach its target of a 2% inflation rate.2 As economists continue to feel optimistic that interest rate hikes are done, especially after recent rate falls and signs of slowing inflation, it will still be the right combination of factors that will ultimately control the speed of the market’s recovery.
Controlling Factors Rising inventory, lower mortgage rates, and economic stability are the factors that will see buyers and sellers return to the market. More inventory would ease the upward pressure on home prices. However, if mortgage rates drop too fast, demand is likely to surge, which would likely result in prices rebounding again. Keith Gumbinger, Vice President at mortgage website HSH.com, shared a sentiment that many would agree
would be the best solution for controlling the market’s comeback. “Better that rate reductions happen at a metered pace, incrementally improving buyer opportunities over a stretch of time, rather than all at once.” He adds that mortgage rates returning to a more “normal” upper 4% to lower 5% range would also help the housing market, but over time, so it could return to 2014-2019 levels. However, most experts predict that a surge of inventory is unlikely because many homeowners are still “lockedin” to even lower mortgage rates and new construction has continued to decrease despite the demand for new stock.
Consumer Sentiment Although the year-over-year increases in sales and new inventory levels indicates greater optimism by buyers and sellers comparatively, which is also certainly responsible for driving some of the market upticks, this is not to be confused with the current consumer sentiment, which remains cautious. Overall, in even the affluent demographic, there continues to be a considered approach to buying and selling in the luxury market, with little change anticipated, especially in the first quarter of 2024. Where purchasing or selling a home is more often a “want” than a “need,” the affluent are expected to continue prioritizing searching for properties that offer value for money, are move-in-ready, and match their lifestyle choices.
A little more inventory would certainly assist in their endeavors, but equally this slower market affords them the time to assess what is available against their requirements. And often they are willing to wait for the property that fulfils these goals. A recent survey by Fannie Mae3 on consumer sentiment indicates it has not changed significantly as of the end of October 2023. The report reveals that many buyers and sellers are still on the fence. But then again, perhaps it’s a little too early to expect a significant change in sentiment, given that trends typically occur before perceptions of the reality catch up.
Buy Now or Later? Ultimately, for those looking to buy using a mortgage in the next year, there are big decisions to be made. They must choose between waiting for interest rates to decline or buying now and refinancing later, potentially avoiding a competitive spring season. All signs point to pent-up demand driving up the number of sales if new inventory continues to enter the market at a faster rate, provided the right type of properties become available. For those not requiring a mortgage, an increase in new inventory levels could potentially provide more opportunities to secure their desired property. However, given the pent-up demand, significant price reductions are unlikely.
This is because, despite increased inventory levels, the number of homes available, especially move-in-ready homes – which is the number one requirement of many buyers – remains approximately 40% below pre-pandemic levels, according to both the National Association of Realtors and the Canadian Real Estate Association.
Get Ready for 2024 the Right Way During this unconventional market, we highly recommend working with a luxury property specialist to gain insights into what is truly happening in your local marketplace. The art of selling and buying in this market needs a critical and analytical approach. Understanding the realities and setting realistic expectations accordingly will ensure that your goals are achieved.
1. https://www.businessinsider.com/personal-finance/will-mortgage-rates-go-down-in-2024#:~:text=Mortgage%20rate%20predictions%202024,-Most%20major%20 forecasts&text=Fannie%20Mae%27s%20forecast%20suggests%20that,by%20the%20end%20of%202024. 2. https://wowa.ca/interest-rate-forecast 3. https://www.fanniemae.com/research-and-insights/surveys-indices/national-housing-survey
13-Month Market Trends For the Luxury North American Market
Single-Family Homes
Attached Homes
Single-Family List Price
Attached List Price
Sales Price vs. List Price
Price per Square Foot
Days on Market
All data is based off median values. Median prices represent properties priced above respective city benchmark prices.
Luxury Monthly Market Review A Review of Key Market Differences Year over Year November 2022 | November 2023
Single-Family Homes Median List Price
Median Sale Price
November 2023
$1,550,000
$1,592,500
98.00%
98.19%
$1,275,000
Median SP/LP Ratio Total Sales Ratio
November 2022
Median Price per Sq. Ft.
22.76% $408
$1,300,000
21.14% $426
November 2022
November 2023
Total Inventory
51,767
58,534
Total Sold
11,780
12,375
New Listings
12,133
Median Days on Market Average Home Size
24
14,693
3,270
3,261
Median prices represent properties priced above respective city benchmark prices.
2,560 New Listings
595
Total Sold
Med. Sale Price
Days on Market
25,000
$
0
1.62% Sales Ratio
Single-Family Homes Market Summary | November 2023 •
Official Market Type: Seller's with a 21.14% Sales Ratio.1
•
Homes are selling for an average of 98.19% of list price.
•
The median luxury threshold2 price is $925,000, and the median luxury home sales price is $1,300,000.
•
Markets with the Highest Median Sales Price: Telluride ($5,675,000), Vail ($5,400,000), Los Angeles Beach Cities ($4,200,000), and Park City, UT ($3,900,000).
•
Markets with the Highest Sales Ratio: East Bay, CA (94%), Baltimore City (62%), St. Louis (61%), and Cleveland Suburbs (56%). 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.
24
Luxury Monthly Market Review A Review of Key Market Differences Year over Year November 2022 | November 2023
Attached Homes November 2022
November 2023
Median List Price
$950,000
$939,850
Median SP/LP Ratio
98.40%
99.00%
Median Sale Price Total Sales Ratio
Median Price per Sq. Ft.
$842,000
20.40% $499
$887,000 18.63% $508
November 2022
November 2023
Total Inventory
16,317
20,311
Total Sold
3,328
3,784
New Listings
4,418
Median Days on Market Average Home Size
27
1,882
5,711
1,893
Median prices represent properties priced above respective city benchmark prices.
1,293 New Listings
456
Total Sold
Med. Sale Price
Days on Market
45,000
$
2
1.77% Sales Ratio
Attached Homes Market Summary | November 2023 •
Official Market Type: Balanced Market with a 18.63% Sales Ratio.1
•
Attached homes are selling for an average of 99.00% of list price.
•
The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $887,000.
•
Markets with the Highest Median Sales Price: Vail ($3,000,000), Whistler ($2,880,000), Maui ($2,604,550), and Ft. Lauderdale ($2,550,000).
•
Markets with the Highest Sales Ratio: Howard County, MD (150%), Rockingham County, NH (82%), Morris County, NJ (75%), and Orange County, CA (73%).
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.
25
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
$1,135,000
$975,950
591
287
182
32
Seller's
AZ
Chandler and Gilbert
$1,094,000
$1,075,000
179
67
55
46
Seller's
AZ
Flagstaff
$1,586,000
$1,300,000
100
28
15
90
Balanced
AZ
Mesa
$899,500
$840,000
191
49
40
35
Balanced
AZ
Paradise Valley
$5,485,000
$3,150,000
165
36
16
34
Buyer's
AZ
Phoenix
$899,000
$837,500
852
271
187
43
Seller's
AZ
Scottsdale
$2,225,000
$1,550,000
829
192
148
40
Balanced
AZ
Tucson
$700,000
$640,030
960
299
183
14
Balanced
BC
Mid Vancouver Island
-
-
-
-
-
-
-
BC
Okanagan Valley
$1,798,888
$1,602,500
983
106
30
57
Buyer's
BC
Vancouver
$4,298,000
$3,691,500
1179
214
56
24
Buyer's
BC
Victoria
$2,249,000
$2,400,000
177
47
18
36
Buyer's
BC
Whistler
$5,800,000
$3,250,000
59
8
3
55
Buyer's
CA
Central Coast
$2,962,500
$2,512,500
218
54
50
20
Seller's
CA
East Bay
$2,200,000
$1,903,500
267
91
252
12
Seller's
CA
Greater Palm Springs
$1,850,000
$1,650,000
488
153
73
35
Buyer's
CA
Lake Tahoe
$2,491,500
$1,800,000
184
24
30
42
Balanced
CA
Los Angeles Beach Cities
$5,950,000
$4,200,000
399
104
55
38
Buyer's
CA
Los Angeles City
$4,995,000
$3,710,000
678
177
86
34
Buyer's
CA
Los Angeles The Valley
$2,697,000
$2,110,000
630
208
135
28
Seller's
CA
Marin County
$3,322,500
$3,150,000
80
12
31
22
Seller's
CA
Napa County
$3,895,000
$2,495,500
123
6
4
187
Buyer's
CA
Orange County
$3,199,900
$2,200,000
871
257
321
21
Seller's
CA
Placer County
$1,156,250
$1,067,500
234
45
58
22
Seller's
CA
Sacramento
$976,676
$890,000
561
162
170
20
Seller's
CA
San Diego
$2,498,389
$1,925,000
824
275
251
15
Seller's
CA
San Francisco
$4,750,000
$3,500,000
113
16
53
21
Seller's
CA
San Luis Obispo County
$1,762,500
$1,395,000
204
44
47
40
Seller's
CA
Silicon Valley
$4,664,432
$3,202,500
372
138
198
9
Seller's
CA
Sonoma County
$2,449,500
$1,850,000
216
23
33
48
Balanced
CA
Ventura County
$2,399,000
$1,700,000
234
60
61
41
Seller's
CO
Aspen
-
-
-
-
-
-
-
CO
Boulder
$2,187,000
$1,691,000
254
45
48
77
Balanced
CO
Colorado Springs
$942,000
$869,000
460
65
87
21
Balanced
CO
Denver
$1,689,000
$1,397,500
685
136
168
24
Seller's
CO
Douglas County
$1,325,000
$1,172,250
350
61
68
29
Balanced
CO
Durango
$1,495,000
$1,249,500
105
10
24
63
Seller's
CO
Summit County
$3,012,500
$1,978,200
66
10
11
99
Balanced
CO
Telluride
$5,995,000
$5,675,000
93
8
5
211
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
CO
Vail
$6,995,000
$5,400,000
79
3
9
59
Buyer's
CT
Central Connecticut
$695,000
$650,000
359
80
153
8
Seller's
CT
Coastal Connecticut
$2,399,999
$1,700,000
457
87
137
26
Seller's
DC
Washington D.C.
$3,500,000
$2,884,000
53
10
14
51
Seller's
DE
Sussex County Coastal
$1,550,000
$1,374,186
141
28
30
5
Seller's
FL
Boca Raton/Delray Beach
$2,777,500
$1,725,000
604
150
61
23
Buyer's
FL
Brevard County
$820,000
$750,000
455
131
113
23
Seller's
FL
Broward County
$1,749,999
$1,500,000
753
209
78
48
Buyer's
FL
Coastal Pinellas County
$2,195,000
$1,885,000
151
44
18
15
Buyer's
FL
Ft. Lauderdale
$5,295,000
$3,550,000
223
27
9
88
Buyer's
FL
Jacksonville Beaches
$1,322,199
$1,275,000
384
91
67
33
Balanced
FL
Lee County
$1,350,000
$1,300,000
1073
289
73
41
Buyer's
FL
Marco Island
$2,699,000
$1,925,000
169
47
9
102
Buyer's
FL
Miami
$1,999,999
$1,345,000
1210
266
95
71
Buyer's
FL
Naples
$5,497,000
$3,349,000
510
114
19
19
Buyer's
FL
Orlando
$1,200,000
$1,200,000
932
245
154
15
Balanced
FL
Palm Beach Towns
$4,274,500
$2,990,100
354
85
23
71
Buyer's
FL
Sarasota & Beaches
$2,700,000
$2,000,000
502
131
37
25
Buyer's
FL
South Pinellas County
$1,545,000
$1,322,000
385
128
69
21
Balanced
FL
South Walton
$2,499,900
$2,250,000
625
96
41
51
Buyer's
FL
Tampa
$737,000
$700,000
1330
388
323
23
Seller's
GA
Atlanta
$1,650,000
$1,250,000
781
227
147
7
Balanced
GA
Duluth
$1,592,500
$2,250,000
18
9
1
100
Buyer's
HI
Island of Hawaii
$1,975,000
$1,435,500
205
35
18
48
Buyer's
HI
Kauai
$2,750,000
$1,850,000
75
14
9
59
Buyer's
HI
Maui
$3,650,000
$2,625,000
145
29
14
149
Buyer's
HI
Oahu
$2,872,500
$2,385,000
230
50
31
30
Buyer's
IA
Greater Des Moines
$650,000
$619,344
469
73
65
27
Buyer's
ID
Ada County
$784,950
$735,000
604
196
189
22
Seller's
ID
Northern Idaho
$1,749,740
$1,497,000
348
43
43
82
Buyer's
IL
Chicago
$1,499,450
$1,370,000
592
162
173
16
Seller's
IL
DuPage County
$1,250,000
$950,000
227
62
82
17
Seller's
IL
Lake County
$1,299,000
$890,000
250
63
74
16
Seller's
IL
Will County
$689,900
$590,750
263
91
98
20
Seller's
IN
Hamilton County
$850,000
$783,500
190
54
74
11
Seller's
KS
Johnson County
$840,545
$856,468
506
68
130
18
Seller's
MA
Cape Cod
$2,354,500
$1,800,000
166
31
35
29
Seller's
MA
Greater Boston
$3,995,000
$2,522,500
163
30
30
20
Balanced
MA
South Shore
$1,850,000
$1,400,000
59
10
25
21
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
MD
Anne Arundel County
$1,000,000
$926,000
180
51
83
8
Seller's
MD
Baltimore City
$1,100,000
$905,000
21
3
13
10
Seller's
MD
Baltimore County
$999,747
$952,500
135
36
34
12
Seller's
MD
Frederick County
$887,450
$849,990
70
17
23
8
Seller's
MD
Howard County
$1,200,000
$975,000
60
15
29
8
Seller's
MD
Montgomery County
$1,999,225
$1,515,000
184
57
65
12
Seller's
MD
Talbot County
$2,995,000
$1,500,000
35
7
7
5
Balanced
MD
Worcester County
$987,450
$1,050,000
50
13
11
13
Seller's
MI
Grand Traverse
$1,292,500
$909,500
74
13
12
32
Balanced
MI
Livingston County
$750,000
$695,000
86
17
18
46
Balanced
MI
Monroe County
$690,000
$710,000
27
10
3
34
Buyer's
MI
Oakland County
$765,000
$648,995
766
244
188
16
Seller's
MI
Washtenaw County
$950,000
$720,000
149
37
47
9
Seller's
MI
Wayne County
$769,000
$620,000
177
52
61
14
Seller's
MN
Olmsted County
$849,900
$814,900
73
8
19
36
Seller's
MN
Twin Cities
$1,250,000
$1,060,000
762
146
147
22
Balanced
MO
Kansas City
$699,000
$690,250
1501
210
370
19
Seller's
MO
St. Louis
$775,000
$655,000
106
33
65
6
Seller's
NC
Asheville
$1,125,000
$950,000
282
56
75
24
Seller's
NC
Charlotte
$1,192,500
$940,000
578
173
217
5
Seller's
NC
Lake Norman
$1,312,500
$964,000
198
59
61
10
Seller's
NC
Raleigh-Durham
$1,225,000
$989,949
510
119
183
4
Seller's
NH
Rockingham County
$1,637,500
$1,375,000
72
17
29
12
Seller's
NJ
Bergen County
$2,473,000
$1,705,000
218
48
38
27
Balanced
NJ
Hudson County
$1,499,000
$1,950,000
25
9
3
8
Buyer's
NJ
Morris County
$1,700,000
$1,297,500
111
29
40
15
Seller's
NJ
Ocean County
$992,000
$860,000
470
130
112
27
Seller's
NM
Taos
$1,297,500
$1,086,400
66
5
9
102
Buyer's
NV
Lake Tahoe
$3,499,000
$2,262,500
85
11
10
106
Buyer's
NV
Las Vegas
$1,790,000
$1,416,288
636
171
86
29
Buyer's
NV
Reno
$2,047,500
$1,775,000
134
12
20
61
Buyer's
NY
Finger Lakes
$1,595,000
$950,000
22
2
9
7
Seller's
NY
Nassau County
$1,800,000
$1,472,500
628
138
130
43
Balanced
NY
Staten Island
$1,199,500
$1,135,000
136
28
32
80
Seller's
NY
Suffolk County
$1,975,000
$1,270,000
915
155
133
43
Buyer's
NY
Westchester County
$2,092,500
$1,497,000
328
62
110
21
Seller's
OH
Cincinnati
$845,900
$675,050
221
40
64
5
Seller's
OH
Cleveland Suburbs
$824,650
$740,000
32
10
18
41
Seller's
OH
Columbus
$849,450
$744,950
520
141
180
14
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
ON
GTA - Durham
$1,699,450
$1,510,000
276
133
43
20
Balanced
ON
GTA - York
$2,488,000
$1,888,000
702
326
139
21
Balanced
ON
Hamilton
$1,937,400
$1,662,500
276
92
24
30
Buyer's
ON
Mississauga
$2,999,900
$2,550,000
181
57
9
20
Buyer's
ON
Oakville
$2,999,450
$2,305,000
166
53
23
30
Buyer's
ON
Toronto
$3,888,000
$3,221,500
602
232
70
20
Buyer's
ON
Waterloo Region
$1,399,500
$1,300,000
226
108
38
23
Balanced
OR
Portland
$1,299,999
$1,185,450
717
137
118
32
Balanced
SC
Charleston
$1,800,000
$1,485,000
531
136
118
19
Seller's
SC
Hilton Head
$1,995,000
$1,600,000
279
46
61
22
Seller's
SC
The Grand Strand
$879,900
$827,475
431
112
86
88
Balanced
TN
Greater Chattanooga
$907,500
$917,500
248
53
48
17
Balanced
TN
Knoxville
$974,950
$875,000
168
41
58
9
Seller's
TN
Nashville
$1,799,999
$1,253,250
856
203
179
15
Balanced
TX
Austin
$1,246,000
$952,750
1148
251
182
43
Balanced
TX
Collin County
$748,000
$702,969
1275
367
351
27
Seller's
TX
Dallas
$1,349,000
$1,150,000
568
177
152
18
Seller's
TX
Denton County
$799,000
$705,000
1131
294
251
35
Seller's
TX
El Paso
$629,000
$615,000
230
46
40
37
Balanced
TX
Fort Worth
$897,450
$792,150
1072
291
222
24
Balanced
TX
Greater Tyler
$699,000
$634,500
256
59
16
25
Buyer's
TX
Houston
$949,999
$913,500
1183
372
220
15
Balanced
TX
Lubbock
$649,000
$720,000
179
51
23
113
Buyer's
TX
San Angelo
$681,250
$580,000
58
16
12
69
Balanced
TX
San Antonio
$791,895
$730,000
793
175
111
36
Buyer's
TX
The Woodlands & Spring
$799,423
$720,000
240
78
60
16
Seller's
UT
Park City
$4,799,000
$3,900,000
167
15
26
80
Balanced
UT
Salt Lake City
$1,202,950
$1,050,000
500
100
111
38
Seller's
UT
Washington County
$1,375,000
$1,300,000
199
28
29
46
Buyer's
VA
Arlington & Alexandria
$2,134,000
$1,930,150
92
27
29
17
Seller's
VA
Charlottesville
$1,261,450
$1,060,000
136
27
29
5
Seller's
VA
Fairfax County
$2,224,500
$1,490,000
330
82
86
8
Seller's
VA
McLean & Vienna
$2,949,900
$1,850,000
155
35
27
10
Balanced
VA
Richmond
$824,975
$802,925
450
100
152
8
Seller's
VA
Smith Mountain Lake
$1,770,000
$1,450,000
44
11
8
6
Balanced
WA
King County
$2,099,475
$1,699,000
680
203
332
11
Seller's
WA
Seattle
$2,050,000
$1,650,000
183
57
92
9
Seller's
WA
Spokane
$1,150,000
$988,000
149
34
24
26
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 Attached Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
AB
Calgary
$797,000
$685,000
178
59
30
27
Balanced
AZ
Chandler and Gilbert
-
-
-
-
-
-
-
AZ
Flagstaff
-
-
-
-
-
-
-
AZ
Mesa
-
-
-
-
-
-
-
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$852,500
$722,969
232
62
58
36
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Mid Vancouver Island
-
-
-
-
-
-
-
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,889,000
$1,724,000
1065
285
62
27
Buyer's
BC
Victoria
$949,800
$935,000
191
81
37
26
Balanced
BC
Whistler
$2,522,500
$2,880,000
60
19
8
72
Buyer's
CA
Central Coast
$1,199,000
$1,220,000
48
13
9
13
Balanced
CA
East Bay
$1,199,000
$1,077,000
125
54
69
11
Seller's
CA
Greater Palm Springs
-
-
-
-
-
-
-
CA
Lake Tahoe
$1,950,000
$1,075,000
37
11
16
29
Seller's
CA
Los Angeles Beach Cities
$1,995,000
$1,665,000
153
47
49
27
Seller's
CA
Los Angeles City
$1,700,000
$1,500,000
411
117
79
25
Balanced
CA
Los Angeles The Valley
$825,000
$830,000
109
37
53
26
Seller's
CA
Marin County
$1,170,000
$1,307,500
23
4
10
30
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,262,500
$1,080,000
266
106
193
21
Seller's
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,297,250
$1,035,000
352
131
155
14
Seller's
CA
San Francisco
$2,950,000
$2,200,000
109
9
19
32
Balanced
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Silicon Valley
$1,711,682
$1,600,000
90
41
58
11
Seller's
CA
Sonoma County
$829,990
$677,700
16
1
5
42
Seller's
CA
Ventura County
$775,000
$780,000
93
30
34
39
Seller's
CO
Aspen
-
-
-
-
-
-
-
CO
Boulder
$994,250
$845,000
80
15
22
63
Seller's
CO
Colorado Springs
$547,445
$576,000
40
9
11
12
Seller's
CO
Denver
$855,000
$820,000
184
39
37
37
Balanced
CO
Douglas County
$576,000
$562,000
34
14
10
39
Seller's
CO
Durango
$795,453
$1,022,500
30
2
4
63
Buyer's
CO
Summit County
$1,224,500
$1,222,500
30
12
8
15
Seller's
CO
Telluride
$2,312,500
$623,000
36
7
5
82
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
CO
Vail
$3,625,000
$3,000,000
76
12
8
30
Buyer's
CT
Central Connecticut
-
-
-
-
-
-
-
CT
Coastal Connecticut
$899,000
$698,500
122
39
46
22
Seller's
DC
Washington D.C.
$1,995,000
$1,600,000
240
57
49
16
Balanced
DE
Sussex County Coastal
$1,187,450
$959,500
30
8
7
11
Seller's
FL
Boca Raton/Delray Beach
$1,097,000
$727,500
456
135
52
38
Buyer's
FL
Brevard County
$699,950
$640,000
218
44
24
40
Buyer's
FL
Broward County
$695,000
$592,500
889
232
104
34
Buyer's
FL
Coastal Pinellas County
$1,250,000
$1,100,000
213
57
20
24
Buyer's
FL
Ft. Lauderdale
$2,531,500
$2,550,000
162
23
15
154
Buyer's
FL
Jacksonville Beaches
$1,164,500
$1,412,500
58
14
12
27
Balanced
FL
Lee County
$850,000
$850,000
586
137
59
13
Buyer's
FL
Marco Island
$1,782,500
$1,725,000
64
20
10
25
Balanced
FL
Miami
$1,500,000
$1,275,000
1651
305
97
81
Buyer's
FL
Naples
$2,299,000
$2,470,000
401
105
33
54
Buyer's
FL
Orlando
$560,000
$575,000
343
86
45
31
Buyer's
FL
Palm Beach Towns
$1,885,000
$2,085,000
351
101
33
46
Buyer's
FL
Sarasota & Beaches
$1,497,000
$1,294,770
348
161
105
0
Seller's
FL
South Pinellas County
$1,049,000
$1,215,241
357
124
67
1
Balanced
FL
South Walton
$1,295,000
$1,575,000
231
42
20
65
Buyer's
FL
Tampa
$899,000
$719,998
271
91
46
35
Balanced
GA
Atlanta
$708,575
$650,000
608
182
107
20
Balanced
GA
Duluth
-
-
-
-
-
-
-
HI
Island of Hawaii
$2,425,000
$1,242,000
42
13
8
5
Balanced
HI
Kauai
$1,664,500
$1,592,500
40
12
10
12
Seller's
HI
Maui
$1,899,450
$2,604,550
146
57
21
963
Buyer's
HI
Oahu
$1,200,000
$935,000
489
113
64
44
Buyer's
IA
Greater Des Moines
-
-
-
-
-
-
-
ID
Ada County
$629,800
$589,030
61
21
12
45
Balanced
ID
Northern Idaho
-
-
-
-
-
-
-
IL
Chicago
$1,250,000
$998,500
694
161
122
26
Balanced
IL
DuPage County
$677,894
$646,250
28
7
14
8
Seller's
IL
Lake County
-
-
-
-
-
-
-
IL
Will County
-
-
-
-
-
-
-
IN
Hamilton County
-
-
-
-
-
-
-
KS
Johnson County
$640,962
$649,552
158
14
31
15
Balanced
MA
Cape Cod
$1,050,000
$772,500
37
3
12
24
Seller's
MA
Greater Boston
$2,399,000
$1,903,000
373
63
59
27
Balanced
MA
South Shore
$779,450
$829,000
20
8
13
22
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
MD
Anne Arundel County
$589,945
$580,000
76
37
55
8
Seller's
MD
Baltimore City
$690,000
$595,000
81
11
23
12
Seller's
MD
Baltimore County
$684,995
$607,000
18
5
8
20
Seller's
MD
Frederick County
-
-
-
-
-
-
-
MD
Howard County
$634,990
$636,510
28
15
42
3
Seller's
MD
Montgomery County
$831,735
$759,990
80
45
53
10
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$698,000
$682,500
111
28
24
24
Seller's
MI
Grand Traverse
-
-
-
-
-
-
-
MI
Livingston County
-
-
-
-
-
-
-
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$663,970
$650,000
66
23
25
18
Seller's
MI
Washtenaw County
$685,000
$895,000
57
6
4
24
Buyer's
MI
Wayne County
$698,809
$655,000
74
12
6
7
Buyer's
MN
Olmsted County
-
-
-
-
-
-
-
MN
Twin Cities
-
-
-
-
-
-
-
MO
Kansas City
-
-
-
-
-
-
-
MO
St. Louis
-
-
-
-
-
-
-
NC
Asheville
$750,000
$613,250
49
8
8
16
Balanced
NC
Charlotte
$674,900
$604,750
217
44
62
14
Seller's
NC
Lake Norman
$594,600
$635,000
30
7
6
4
Balanced
NC
Raleigh-Durham
-
-
-
-
-
-
-
NH
Rockingham County
$929,900
$1,054,190
45
12
37
4
Seller's
NJ
Bergen County
$1,241,944
$1,135,738
138
33
20
37
Buyer's
NJ
Hudson County
$1,381,500
$1,205,000
132
38
22
14
Balanced
NJ
Morris County
$699,000
$630,000
53
24
40
14
Seller's
NJ
Ocean County
$990,000
$1,029,900
59
16
29
38
Seller's
NM
Taos
-
-
-
-
-
-
-
NV
Lake Tahoe
$1,362,000
$2,000,000
18
4
6
44
Seller's
NV
Las Vegas
-
-
-
-
-
-
-
NV
Reno
-
-
-
-
-
-
-
NY
Finger Lakes
-
-
-
-
-
-
-
NY
Nassau County
$1,599,000
$1,275,000
87
18
21
45
Seller's
NY
Staten Island
$628,000
$612,900
93
24
24
53
Seller's
NY
Suffolk County
$839,000
$645,100
118
38
61
31
Seller's
NY
Westchester County
-
-
-
-
-
-
-
OH
Cincinnati
-
-
-
-
-
-
-
OH
Cleveland Suburbs
-
-
-
-
-
-
-
OH
Columbus
$697,500
$624,950
117
33
28
4
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
ON
GTA - Durham
$854,900
$862,450
38
18
8
14
Seller's
ON
GTA - York
$815,000
$740,000
405
184
48
22
Buyer's
ON
Hamilton
$899,900
$1,042,500
46
18
4
30
Buyer's
ON
Mississauga
$978,000
$962,500
167
86
28
36
Balanced
ON
Oakville
$1,249,000
$1,770,000
30
23
11
15
Seller's
ON
Toronto
$1,229,000
$1,155,000
1229
527
142
21
Buyer's
ON
Waterloo Region
$754,900
$735,000
68
22
5
38
Buyer's
OR
Portland
$694,000
$630,000
246
45
26
25
Buyer's
SC
Charleston
$1,300,000
$889,000
124
33
23
28
Balanced
SC
Hilton Head
$1,099,500
$885,000
32
4
10
47
Seller's
SC
The Grand Strand
$549,900
$535,000
298
63
37
84
Buyer's
TN
Greater Chattanooga
-
-
-
-
-
-
-
TN
Knoxville
-
-
-
-
-
-
-
TN
Nashville
$762,000
$717,500
287
74
42
28
Buyer's
TX
Austin
$854,900
$715,000
369
68
33
66
Buyer's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$725,000
$635,000
234
65
29
16
Buyer's
TX
Denton County
-
-
-
-
-
-
-
TX
El Paso
-
-
-
-
-
-
-
TX
Fort Worth
-
-
-
-
-
-
-
TX
Greater Tyler
-
-
-
-
-
-
-
TX
Houston
$600,000
$585,000
124
42
27
10
Seller's
TX
Lubbock
-
-
-
-
-
-
-
TX
San Angelo
-
-
-
-
-
-
-
TX
San Antonio
$700,000
$1,447,500
39
5
4
322
Buyer's
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$1,875,000
$1,912,500
99
22
22
46
Seller's
UT
Salt Lake City
$629,750
$539,000
180
54
25
31
Buyer's
UT
Washington County
-
-
-
-
-
-
-
VA
Arlington & Alexandria
$1,000,000
$1,050,000
85
28
41
9
Seller's
VA
Charlottesville
$591,047
$570,393
51
7
19
17
Seller's
VA
Fairfax County
$794,945
$711,600
142
57
101
7
Seller's
VA
McLean & Vienna
$1,252,950
$967,000
19
9
9
4
Seller's
VA
Richmond
$598,868
$565,973
112
33
24
9
Seller's
VA
Smith Mountain Lake
-
-
-
-
-
-
-
WA
King County
$1,285,000
$1,012,000
261
65
67
14
Seller's
WA
Seattle
$1,469,000
$1,075,000
124
26
29
21
Seller's
WA
Spokane
-
-
-
-
-
-
-
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.
OAHU
|
HAWAII ISLAND
|
MAUI
|
KAUAI
©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 of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated.