Corcoran Pacific Properties Luxury Market Report NOV 2020

KAUAI

|

OAHU

|

MAUI

|

HAWAII ISLAND

Luxury Market Report Hawaii, November 2020

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.

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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 Emerging Wealth Demographics in an Unprecedented Market In the recent release of their A Look at Wealth Report, Coldwell Banker Global Luxury (CBGL) partnered with The Institute, a leading source for luxury real estate data and analysis, to garner clear insights and supporting data about the luxury real estate market during the first 9 months of 2020.

The analysis that The Institute provided focused on reviewing the Top 10% of the overall market and included parameters such as monthly inventory levels, median monthly sold prices, median monthly days on market, and comparisons against 2019, for both the single-family home and attached property markets.

CBGL showcased The Institute’s statistics on pages 15-16 of their report and were also able to use the data provided to support its research into the unprecedented effects of the COVID-19 Pandemic on the luxury real estate market.

The findings qualified an unexpected growth in the summer and fall of 2020 through increased numbers of sales and rising price points as well as provided insight into emerging patterns and their causes. The reports notes that there were profound lifestyle changes and a realignment of priorities, which when combined with other factors such as the rise of remote working, have led to a luxury real estate boom and a migration of wealth to new markets.

This trend is still in full force with October 2020 statistics showing that inventory levels for single family homes are 25% lower and the number of sales have nearly doubled (96%) when compared to October 2019. The average sold price is still appreciating, which indicates two significant trends: that homes are selling closer to their list price and larger properties with higher price tags are still in demand.

From October 2019 to October 2020, the median sales price has jumped 4.3% and the median SP/LP ratio has increased from 96.68% to 98%.

One of the most significant findings in the CBGL report was the review of the emergence of a new wealth demographic, which Craig Hogan, VP of Luxury for Coldwell Banker, identifies in the report’s opening introduction.

“2020 will be remembered as an unprecedented year. Priorities have realigned toward home, family, health, and wellness due to the pandemic,” Hogan states. “But 2020 has ushered in new affluent demographics. We’re calling them trailblazers because they are charting a new path forward, choosing housing locations based on family, health, or lifestyle reasons, rather than being close to their business or work.”

This change in housing needs is significant as it shows an increasing redistribution of real estate wealth as from the more traditional metropolitan communities to small town hidden gems, suburbs, and popular second home destinations.

This analysis of “trailblazers” determined that their choices fall into three main subsets: Explorers, New Suburbanites, and Resorters.

The pandemic has caused people to re-evaluate what is important to them in 2020, with greater emphasis placed on home, family, and health. These trailblazers have defied traditional categorization commonly generated by demographic factors such as net worth, age, and gender. They have changed their luxury spending habits, moved to new locations, and purchased homes that better accommodate the needs of their family during this health crisis.

One of the key factors that has enabled the affluent to change their location and lifestyle so quickly and dramatically, is the rise of remote work. While this trend was already gaining momentum due to advances in technology and internet capabilities, but the arrival of the pandemic demanded a quicker acceptance as an estimated 40% of adults in the US now work from home.

The report then takes a deep dive into how the affluent’s new requirements have created these three groups, identifying the significant make-up of each of these demographics.

EXPLORERS Explorers are ready to leave the city behind. They seek new adventure in America’s exurbs, far-flung suburbs and sleepy small towns where their dollar will carry them further. They are less concerned with status and are more willing to choose “hidden gem” locations — slightly more rural, non-traditional luxury markets — if it means that they can have better schools, access to open space, and a dynamic mix of shops, restaurants, and recreational facilities that allow them to center a lifestyle focused on family.

Explorers tend to be younger (under the age of 39), married with at least one young child, [less than 40% means most have a child?] and have a net worth in the $1 to 5 million range; however, they are a diverse group and many exceptions apply. Many are business owners, or business executives or work in professions that allow them the flexibility to work from home, making it easier for them to live farther away from major metro centers.

NEW SUBURBANITES New suburbanites are leading a revival of the suburbs. Like explorers, New suburbanites are looking for more space, which translates into private backyards, one bedroom for each child, and amplesized, and dedicated spaces for work (like dual-home offices for both parents to work remotely). They are also in search of good schools and, in some cases, a dose of city culture with newly developed urban-style mixed-use centers with restaurants, retail, offices, and open green spaces.

Despite the fact that many new suburbanites are entrepreneurs, business owners, or senior managers who have the ability to work from home, they may still need to be within commuting distance of cities for work or business. The majority tend to be slightly older than explorers (between the ages of 39 and 54) and are married with two or more school-aged children. While net worth and disposable income vary based on location, they also tend to have a higher net worth ($5 to $10 million). Many own more than one home. They are more likely to make luxury purchases like sports cars, boats, art, collectibles, and health and wellness treatments.

RESORTERS Resorters are those who are flocking to world-class vacation destinations where they can enjoy a resort lifestyle filled with fresh air, freedom and access to recreation and luxury amenities. Whether they ski, golf, or enjoy wine, resorters often choose their locations based on their life passions. They may either be permanently relocating to their favorite vacation destination or are converting an already-owned seasonal second home to a primary residence in response to the pandemic.

Because resort markets tend to have higher price points, resorters are often in a higher wealth bracket — $10 million and over. In many cases, they are not giving up their city homes completely.

The majority of them are slightly older (over the age of 54) and are married with possibly older or adult children. They often own at least two properties, including a home in a city. The majority are established business owners with middle management onsite, giving them the freedom to work remotely. They may also be at retirement age, giving them extra freedom to live anywhere they want.

However, accessibility and driveability to their resort home may still be important factors for them.

They are accustomed to sophisticated living and look for properties that afford them a lifestyle that matches their affluence. They place a premium on privacy and freedom as well as prioritize health and wellness. They enjoy a range of outdoor activities, including skiing, biking, hiking, boating, tennis, or golf. Because of their activity, they love their toys — cars, boats, and collectibles.

THE FUTURE CBGL’s A Look at Wealth Report importantly reminds us that while these lifestyle changes and migration trends are forming today’s market trends, their permanency is yet to be affirmed. Certainly some of the trends will remain, but it is unlikely that as the pandemic becomes more manageable that there will not be a return to the metropolitan cities once again.

13-Month Market Trends For the Luxury North American Market

Single-Family Homes

Attached Homes

80

Days on Market

60

Single-Family List Price

Attached List Price

74 62

61

59

53 55

53 49

40

42

47

43

40

37 39

32

38 32

36

32

31

31

32

28

28

29 35

20

0 OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

$506

$448

$367

JUN

$366

MAY

$356

$338

APR

$466

$500

$349

MAR

$356

$472

$340

$453

$468

$486 $343

$470 $362

$455 $366

$458

$481 $365

$300

$348

$400

$463

$500

$355

Price per Square Foot

$600

JUL

AUG

SEP

OCT

$200

$100

$0 OCT

NOV

DEC

JAN

FEB

Sales Price vs. List Price

$2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0 OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

Discrepancies in previous month statistics between the October 2020 and November 2020 reports are due to the addition of South Walton, FL and Denton County, TX.

Luxury Monthly Market Review A Review of Key Market Differences Month Over Month September 2020 | October 2020

Single-Family Homes September

October

Median List Price

$1,599,999

$1,675,000

Median Sale Price

$1,275,600

$1,332,500

Median SP/LP Ratio

97.77%

Total Sales Ratio Median Price per Sq. Ft.

September

October

Total Inventory

44,864

41,913

New Listings

13,492

12,894

98.00%

Total Sold

15,067

15,820

35.15%

37.74%

Median Days on Market

32

29

$366

$367

3,585

3,496

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





598

753

New Listings

Total Sold





3

2.59%

Med. Sale Price

Days on Market

Sales Ratio

57,500

$



Single-Family Homes Market Summary | October 2020 •

Official Market Type: Seller's Market with a 37.74% Sales Ratio.1

•

Homes are selling for an average of 98% of list price.

•

The median luxury threshold2 price is $900,000, and the median luxury home sales price is $1,332,500.

•

Markets with the Highest Median Sales Price: Vail ($3,900,000), LA Beach Cities ($3,819,500), San Francisco ($3,300,000), and Santa Barbara ($3,250,000).

•

Markets with the Highest Sales Ratio: Denver (120%), East Bay (120%), Summit County (117%) and Sacramento (111%).

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 September 2020 | October

Attached Homes September

October

$1,017,398

$1,012,540

$889,500

$881,250

Median SP/LP Ratio

98.35%

Total Sales Ratio

Median List Price Median Sale Price

September

October

19,715

19,549

New Listings

5,920

5,641

98.88%

Total Sold

4,055

4,058

20.57%

20.76%

Median Days on Market

28

35

$448

$506

2,034

2,002

Median Price per Sq. Ft.

Total Inventory

Average Home Size

Median prices represent properties priced above respective city benchmark prices.

3



8,250



7

0.19%

Total Sold

Med. Sale Price

Days on Market

Sales Ratio





New Listings

279



Attached Homes Market Summary | October 2020 •

Official Market Type: Seller's Market with a 20.76% Sales Ratio.1

•

Attached homes are selling for an average of 98.88% of list price.

•

The median luxury threshold2 price is $701,225, and the median attached luxury sale price is $881,250.

•

Markets with the Highest Median Sales Price: Island of Hawaii ($2,975,000), Vail ($2,650,000), Maui ($2,370,000), and San Francisco ($2,322,500).

•

Markets with the Highest Sales Ratio: GTA-Durham (467%), Summit County (120%), Durango (113%) and Fairfax County (93%).

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

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

Calgary

$1,190,000

$1,043,500

554

182

126

46

Seller's

AZ

Paradise Valley

$3,500,000

$2,400,000

178

54

46

87

Seller's

AZ

Phoenix

$796,000

$652,500

448

200

394

35

Seller's

AZ

Scottsdale

$1,999,250

$1,400,000

564

153

213

50

Seller's

AZ

Tucson

$795,000

$650,000

487

147

202

9

Seller's

BC

Greater Victoria

$1,999,900

$1,807,500

345

94

52

39

Balanced

BC

Okanagan Valley

$1,675,000

$1,447,500

413

120

100

56

Seller's

BC

Vancouver

$4,188,000

$3,225,000

910

274

117

30

Buyer's

CA

Central Coast

$3,425,000

$2,195,000

230

88

33

8

Buyer's

CA

East Bay

$2,398,000

$1,900,001

291

166

348

9

Seller's

CA

Lake Tahoe

$2,595,000

$1,900,000

202

75

117

42

Seller's

CA

Los Angeles Beach Cities

$4,950,000

$3,819,500

471

139

105

19

Seller's

CA

Los Angeles City

$4,299,000

$3,025,000

1,077

364

191

23

Balanced

CA

Los Angeles The Valley

$2,295,000

$1,754,500

490

205

290

18

Seller's

CA

Marin County

$3,825,000

$2,882,500

134

37

48

22

Seller's

CA

Napa County

$2,996,500

$2,200,000

154

22

23

88

Buyer's

CA

Orange County

$2,735,000

$1,899,000

1,147

324

481

29

Seller's

CA

Palm Springs/Palm Desert

$1,829,000

$1,405,000

379

108

129

42

Seller's

CA

Placer County

$1,100,000

$929,000

183

71

121

8

Seller's

CA

Sacramento

$835,000

$725,000

483

259

537

7

Seller's

CA

San Diego

$2,380,000

$1,700,000

925

353

503

24

Seller's

CA

San Francisco

$4,446,900

$3,300,000

128

36

55

14

Seller's

CA

San Luis Obispo County

$1,695,000

$1,147,000

146

42

8

8

Buyer's

CA

Santa Barbara

$4,250,000

$3,250,000

199

39

71

35

Seller's

CA

Silicon Valley

$4,391,500

$3,065,000

286

132

188

9

Seller's

CA

Ventura County

$2,250,000

$1,529,000

241

68

155

39

Seller's

State

Market Name

AB

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

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

$2,000,000

$1,360,000

304

110

126

44

Seller's

$887,000

$690,500

226

99

192

13

Seller's

Denver

$1,129,000

$853,000

749

309

899

11

Seller's

CO

Douglas County

$1,500,000

$1,145,000

184

59

143

28

Seller's

CO

Durango

$1,445,000

$1,165,000

81

20

27

97

Seller's

CO

Summit County

$1,975,000

$1,650,000

18

7

21

21

Seller's

CO

Vail

$5,995,000

$3,900,000

85

19

25

37

Seller's

CT

Central Connecticut

$663,900

$600,000

445

132

118

31

Seller's

CT

Coastal Connecticut

$1,900,000

$1,507,500

1,072

266

318

68

Seller's

DC

Washington D.C.

$3,995,000

$2,364,000

59

15

22

25

Seller's

FL

Boca Raton/Delray Beach

$2,375,000

$1,850,000

441

89

68

64

Balanced

FL

Greater Fort Lauderdale

$1,500,000

$960,000

1,138

297

241

56

Seller's

FL

Jacksonville Beaches

$1,492,400

$1,200,000

211

67

79

42

Seller's

FL

Lee County

$1,699,000

$1,441,750

446

89

80

101

Balanced

FL

Miami

$1,475,000

$999,000

1,087

223

167

88

Balanced

FL

Naples

$2,484,500

$1,890,000

478

103

149

102

Seller's

FL

Orlando

$1,552,500

$1,347,500

414

82

75

66

Balanced

FL

Palm Beach Towns

$3,299,999

$1,950,000

243

50

47

92

Balanced

FL

Pinellas County Towns

$1,700,000

$1,260,000

59

17

27

8

Seller's

FL

Sarasota & Beaches

$1,799,000

$1,412,500

191

49

32

92

Balanced

FL

South Walton

$2,469,500

$1,924,913

180

38

68

45

Seller's

FL

Tampa

$842,500

$716,000

580

183

226

26

Seller's

GA

Atlanta

$1,275,000

$969,500

984

302

244

19

Seller's

HI

Island of Hawaii

$2,850,000

$1,497,000

143

30

22

45

Balanced

HI

Kauai

$2,750,000

$1,590,000

113

27

23

52

Balanced

State

Market Name

CO

Boulder

CO

Colorado Springs

CO

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

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

Maui

$3,650,000

$2,025,000

173

28

20

107

Buyer's

HI

Oahu

$3,300,000

$2,425,000

207

45

24

46

Buyer's

ID

Northern

$998,750

$781,873

234

86

172

66

Seller's

IL

Chicago

$1,295,000

$1,050,000

1,342

401

440

48

Seller's

IL

DuPage County

$1,099,000

$940,000

483

130

135

72

Seller's

IL

Lake County

$1,055,000

$910,000

504

120

128

62

Seller's

IL

Will County

$675,000

$577,500

226

65

100

30

Seller's

IN

Hamilton County

$825,000

$723,536

169

63

114

8

Seller's

MA

Greater Boston

$3,325,000

$2,950,000

162

40

34

32

Balanced

MD

Anne Arundel County

$999,000

$915,000

219

67

114

10

Seller's

MD

Montgomery County

$1,875,000

$1,500,000

217

77

115

13

Seller's

MD

Talbot County

$2,425,000

$1,630,000

64

12

15

53

Seller's

MD

Worcester County

$1,224,000

$761,500

43

7

11

8

Seller's

MI

Livingston County

$789,950

$632,000

70

20

17

54

Seller's

MI

Monroe County

$624,900

$660,000

17

5

2

9

Buyer's

MI

Oakland County

$817,300

$627,450

719

249

308

30

Seller's

MI

Washtenaw County

$810,000

$767,000

151

25

38

17

Seller's

MI

Wayne County

$749,900

$636,250

259

83

74

24

Seller's

MO

St. Louis

$699,950

$629,500

166

53

82

29

Seller's

NC

Charlotte

$1,149,000

$825,000

1,078

306

373

14

Seller's

NC

Raleigh-Durham

$769,945

$665,435

690

197

364

2

Seller's

NJ

Ocean County

$849,000

$775,000

390

131

206

22

Seller's

NV

Las Vegas

$759,000

$645,000

1,457

474

566

25

Seller's

NV

Reno

$1,418,942

$1,411,667

80

31

44

97

Seller's

NY

Brooklyn

$1,662,500

$1,332,500

326

58

14

78

Buyer's

State

Market Name

HI

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

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

Nassau County

$1,810,000

$1,382,250

1,023

219

194

49

Balanced

NY

Staten Island

$1,300,000

$999,000

179

44

23

89

Buyer's

NY

Suffolk County

$1,498,500

$1,200,000

1,134

268

300

54

Seller's

ON

GTA - Durham

$1,694,500

$1,250,000

178

136

114

14

Seller's

ON

GTA - York

$2,438,000

$1,885,000

703

327

119

21

Balanced

ON

Oakville

$2,684,000

$2,335,000

170

77

38

17

Seller's

ON

Toronto

$3,599,000

$3,075,000

513

295

136

15

Seller's

TN

Knox County

$815,000

$678,500

174

63

79

19

Seller's

TN

Nashville

$1,125,000

$1,000,000

313

103

149

8

Seller's

TX

Austin

$1,249,990

$875,000

438

171

377

10

Seller's

TX

Collin County

$799,990

$690,000

393

111

234

27

Seller's

TX

Dallas

$1,131,200

$902,250

625

186

208

29

Seller's

TX

Denton County

$789,000

$704,500

323

101

183

22

Seller's

TX

Fort Worth

$899,000

$782,000

488

129

216

25

Seller's

TX

Houston

$824,900

$725,000

1,968

556

399

28

Balanced

TX

San Antonio

$810,000

$736,500

367

73

108

51

Seller's

TX

The Woodlands & Spring

$940,000

$740,000

301

98

107

36

Seller's

UT

Park City

$4,495,000

$2,612,500

114

30

93

60

Seller's

UT

Salt Lake City

$1,250,000

$970,000

196

63

117

31

Seller's

VA

Arlington & Alexandria

$1,874,900

$1,684,500

87

33

30

8

Seller's

VA

Fairfax County

$1,999,000

$1,430,500

445

114

136

16

Seller's

VA

McLean & Vienna

$2,499,000

$1,587,500

222

47

44

16

Balanced

VA

Richmond

$849,975

$799,500

238

78

104

8

Seller's

WA

Greater Seattle

$2,077,000

$1,600,000

586

235

507

7

Seller's

WA

Seattle

$1,790,000

$1,399,000

293

130

203

7

Seller's

State

Market Name

NY

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

$954,900

$835,000

98

28

11

51

Buyer's

AZ

Paradise Valley

-

-

-

-

-

-

-

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$699,950

$641,000

240

82

68

71

Seller's

AZ

Tucson

-

-

-

-

-

-

-

BC

Okanagan Valley

-

-

-

-

-

-

-

BC

Vancouver

$1,890,000

$1,628,500

900

317

82

28

Buyer's

BC

Victoria

$1,272,500

$1,249,000

22

9

7

7

Seller's

CA

Central Coast

$992,000

$951,500

92

56

80

12

Seller's

CA

East Bay

$1,397,500

$1,150,000

36

11

29

41

Seller's

CA

Lake Tahoe

$1,699,000

$1,400,000

278

114

77

19

Seller's

CA

Los Angeles Beach Cities

$1,497,500

$1,248,000

582

178

63

26

Buyer's

CA

Los Angeles City

$710,000

$695,000

172

80

130

18

Seller's

CA

Los Angeles The Valley

$1,292,500

$1,080,000

30

8

9

30

Seller's

CA

Marin County

$1,475,000

$1,055,000

17

6

15

32

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$1,099,000

$935,000

370

145

217

20

Seller's

CA

Palm Springs/Palm Desert

-

-

-

-

-

-

-

CA

Placer County

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,150,000

$894,500

581

238

194

17

Seller's

CA

San Francisco

$2,749,500

$2,322,500

206

35

28

22

Buyer's

CA

San Luis Obispo County

-

-

-

-

-

-

-

CA

Santa Barbara

$1,735,000

$1,453,500

38

8

12

99

Seller's

CA

Silicon Valley

$1,481,500

$1,380,000

160

91

107

15

Seller's

CA

Ventura County

$707,500

$710,000

50

15

43

33

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

$895,000

$810,000

135

48

30

54

Seller's

CO

Colorado Springs

-

-

-

-

-

-

-

CO

Denver

$719,000

$627,000

581

222

321

17

Seller's

CO

Douglas County

$599,000

$605,000

19

12

11

7

Seller's

CO

Durango

$762,500

$710,000

8

0

9

110

Seller's

CO

Summit County

$1,195,000

$976,000

5

2

6

24

Seller's

CO

Vail

$3,590,000

$2,650,000

115

16

17

37

Buyer's

CT

Central Connecticut

-

-

-

-

-

-

-

CT

Coastal Connecticut

$749,000

$755,000

218

41

53

63

Seller's

DC

Washington D.C.

$1,800,000

$1,635,000

261

96

65

9

Seller's

FL

Boca Raton/Delray Beach

$1,050,000

$695,000

448

101

53

66

Buyer's

FL

Greater Fort Lauderdale

$869,000

$789,000

1,325

231

83

70

Buyer's

FL

Jacksonville Beaches

$1,025,000

$1,095,000

19

11

17

35

Seller's

FL

Lee County

$885,000

$700,000

303

63

39

101

Buyer's

FL

Miami

$1,000,080

$980,000

2,701

310

84

186

Buyer's

FL

Naples

$2,157,500

$2,025,000

228

60

39

81

Balanced

FL

Orlando

$624,900

$660,000

77

10

7

59

Buyer's

FL

Palm Beach Towns

$1,495,000

$1,285,000

401

88

37

99

Buyer's

FL

Pinellas County Towns

$1,295,000

$850,000

101

25

45

20

Seller's

FL

Sarasota & Beaches

$1,669,500

$1,535,000

300

70

99

79

Seller's

FL

South Walton

$1,254,000

$1,035,000

157

11

29

111

Balanced

FL

Tampa

$699,900

$615,000

139

37

38

36

Seller's

GA

Atlanta

$659,900

$638,500

655

195

133

26

Balanced

HI

Island of Hawaii

$1,925,000

$2,975,000

79

11

19

11

Seller's

HI

Kauai

$1,350,000

$1,300,000

86

11

5

48

Buyer's

Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.

Luxury Monthly Market Review Attached Homes

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

Maui

$1,662,500

$2,370,000

172

41

20

175

Buyer's

HI

Oahu

$1,350,000

$980,829

409

59

24

40

Buyer's

ID

Northern

-

-

-

-

-

-

-

IL

Chicago

$1,100,000

$926,500

1,194

287

124

51

Buyer's

IL

DuPage County

$699,950

$749,000

46

12

15

35

Seller's

IL

Lake County

-

-

-

-

-

-

-

IL

Will County

-

-

-

-

-

-

-

IN

Hamilton County

-

-

-

-

-

-

-

MA

Greater Boston

$2,295,000

$1,866,750

418

96

56

33

Buyer's

MD

Anne Arundel County

$656,500

$563,312

36

11

23

12

Seller's

MD

Montgomery County

$782,450

$671,900

178

84

78

7

Seller's

MD

Talbot County

-

-

-

-

-

-

-

MD

Worcester County

$699,534

$602,500

62

22

26

11

Seller's

MI

Livingston County

-

-

-

-

-

-

-

MI

Monroe County

-

-

-

-

-

-

-

MI

Oakland County

$894,500

$636,500

68

20

12

23

Balanced

MI

Washtenaw County

$597,000

$610,425

43

12

9

47

Balanced

MI

Wayne County

$673,500

$562,039

70

5

11

30

Balanced

MO

St. Louis

-

-

-

-

-

-

-

NC

Charlotte

$734,500

$586,365

209

60

44

41

Seller's

NC

Raleigh-Durham

-

-

-

-

-

-

-

NJ

Ocean County

$689,000

$799,000

45

8

6

105

Buyer's

NV

Las Vegas

-

-

-

-

-

-

-

NV

Reno

-

-

-

-

-

-

-

NY

Brooklyn

$1,295,000

$998,900

702

164

56

89

Buyer's

State

Market Name

HI

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

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

$1,299,000

$1,387,500

147

39

13

113

Buyer's

-

-

-

-

-

-

-

Suffolk County

$749,999

$625,000

143

31

71

46

Seller's

ON

GTA - Durham

$809,990

$747,500

15

19

70

6

Seller's

ON

GTA - York

$845,000

$825,000

361

261

147

15

Seller's

ON

Oakville

$2,589,000

$1,170,000

25

7

6

16

Seller's

ON

Toronto

$1,249,000

$1,157,500

1,023

653

258

10

Seller's

TN

Knox County

-

-

-

-

-

-

-

TN

Nashville

$864,900

$625,000

133

47

21

10

Balanced

TX

Austin

$857,500

$691,638

276

82

52

34

Balanced

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$799,000

$672,000

241

49

27

36

Buyer's

TX

Denton County

-

-

-

-

-

-

-

TX

Fort Worth

-

-

-

-

-

-

-

TX

Houston

$659,450

$660,000

202

74

22

48

Buyer's

TX

San Antonio

$740,000

$1,430,000

44

8

3

115

Buyer's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$3,000,000

$1,734,000

85

12

45

28

Seller's

UT

Salt Lake City

$675,000

$651,000

79

18

22

67

Seller's

VA

Arlington & Alexandria

$1,125,000

$999,000

103

49

65

11

Seller's

VA

Fairfax County

$759,000

$680,890

135

68

126

6

Seller's

VA

McLean & Vienna

$1,299,900

$865,000

39

14

17

7

Seller's

VA

Richmond

-

-

-

-

-

-

-

WA

Greater Seattle

$1,250,000

$1,260,000

305

138

149

3

Seller's

WA

Seattle

$1,429,000

$1,398,053

171

39

22

42

Buyer's

State

Market Name

NY

Nassau County

NY

Staten Island

NY

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 October 2020.

Itâ&#x20AC;&#x2122;s been just over 4 weeks since Hawaii opened its doors officially to visitors with the pre-testing program allowing exemption from the two-week quarantine. Reports from traditional tourist areas are that things are feeling a bit more normal again, with more visitors on the beaches, in restaurants that are open and along the sidewalks, although the numbers are still significantly lower than typical.

Happily, Hawaii is currently recognized as one of the safest locations in the US*. The number of affluent buyers purchasing in Hawaii also endorses this sentiment, as the sale of high-end homes continues to surpass the total number of sales and median price points compared to the same period during 2019.

Single Family Homes sales are, for the most part, seeing the result of this significant increase in demand, but equally there have been a high proportion of sales of properties valued between $2-5 million in the attached market during the month of October.

Overall, luxury single family home sales increased by 50.8% against October 2019, with price points increasing as inventory levels continue to decrease by %. Kauai and The Island of Hawaii saw the largest percentage increases of luxury sales at 155.5% and 83.3% respectively, Oahu saw a 33.5% increase while Maui remained at par.

In past months, attached property sales have slowly risen although are still not back to their 2019 numbers. But it is Octoberâ&#x20AC;&#x2122;s comparative figures against 2019 that show the most dramatic difference; with median values increasing exponentially. The Island of Hawaii not only saw a 216% increase in sales, but a 158% increase in median sales price, Kauai saw 12.5% more sales and a 28% median sales price increase, and Maui remaining close to October 2019 figures for number of sales still reported a 22.3% median sales price increase. On the flip side, Oahu did not see any significant gain in price or number of sales â&#x20AC;&#x201C; but this could be as a result of the attached market on Oahu being located in more high-density communities and more residential vs. second home.

For homeowners currently looking to sell, now is the time to work with your Corcoran Pacific agent to prepare the home so that its turnkey, as statistics show that these properties are in high demand and fetching close to relatable asking prices.

As always, a real estate expert familiar with local trends is the best resource to navigate a specific market.

48th out of 50-ish states and territories here: https://www.worldometers.info/coronavirus/country/us/

Kauai Hawaii November 2020

KAUAI

Single-Family Homes

Luxury Inventory vs. Sales | October 2020 Inventory

Sales

Luxury Benchmark Price 1: $1,025,000 $8,500,000+ $7,300,000 - $8,499,999

2

0

$6,100,000 - $7,299,999

1

$5,100,000 - $6,099,999

1

$4,300,000 - $5,099,999

Total Sales: 23

3

Balanced Market

12 19

2 10

0 7

1

$1,500,000 - $1,699,999

$1,025,000 - $1,199,999

1

7

5

$1,400,000 - $1,499,999

$1,200,000 - $1,299,999

20%

12

0

$1,700,000 - $1,899,999

$1,300,000 - $1,399,999

113

Total Sales Ratio2:

4

2

$2,300,000 - $2,899,999

$1,900,000 - $2,299,999

Total Inventory: 3

1

$3,500,000 - $4,299,999 $2,900,000 - $3,499,999

15

2

4

2

5

0

7

1 3

5

Beds3

Price

DOM

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0-1 Bedrooms

$1,550,000

220

7

1

3

33%

2 Bedrooms

$4,450,000

373

2

1

13

8%

3 Bedrooms

$1,500,000

29

3

11

40

28%

4 Bedrooms

$1,961,500

55

5

6

34

18%

5 Bedrooms

$2,300,000

253

6

1

15

7%

6+ Bedrooms

$10,650,000

2

5

3

8

38%

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

Inventory

$2,007,500

Solds

$2,175,000 $1,845,000

$1,677,000

$1,365,000

$1,270,000

$1,469,000

$1,200,000

$1,100,000 159

138

128

119

$1,293,000

136

110

105

9

7

3

7

3

13

Oct-19

Nov-19

Dec-19

Jan-20

Feb-20

Mar-20

103

2

5

2

Apr-20

May-20

Jun-20

$1,590,000

$1,367,500

97

94

$1,710,000

13

10

Aug-20

Sep-20

10 Jul-20

113

106

94

23 Oct-20

Median Data Inventory September

Solds

October

106

113

VARIANCE:

7%

689

752

$

VARIANCE:

9%

23

September

$

1.71m

130%

September

93.06%

October

95.59%

VARIANCE:

1.59m

$

7

Days on Market September

3%

41

VARIANCE:

Kauai Market Summary | October 2020 • The Kauai single-family luxury market is a Balanced Market with a 20% Sales Ratio.

• Homes sold for a median of 95.59% of list price in October 2020.

• The most active price band is $1,025,000-$1,199,999, where the sales ratio is 167%.

• The median luxury sales price for single-family homes has decreased to $1,590,000.

• The median days on market for October 2020 was 52 days, up from 41 in September 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

October

VARIANCE: - %

Sale to List Price Ratio

October

$

October

10

VARIANCE:

Sale Price Per SqFt. September

September

Sales Price

October

52

27%

KAUAI

Attached Homes

Luxury Inventory vs. Sales | October 2020 Inventory

Sales

Luxury Benchmark Price 1: $850,000 $3,700,000+ $3,300,000 - $3,699,999

0

$2,900,000 - $3,299,999

$2,500,000 - $2,899,999 $2,200,000 - $2,499,999 $1,900,000 - $2,199,999 $1,700,000 - $1,899,999

1

86

Total Sales: 5 Buyer's Market Total Sales Ratio2:

6

6%

4

0

2

0

7

1

12

1

13

1 4

0

6

0

$900,000 - $949,999

$850,000 - $874,999

6

0

$1,100,000 - $1,299,999

$875,000 - $899,999

Total Inventory:

0 0

$1,300,000 - $1,499,999

$950,000 - $999,999

1

1

$1,500,000 - $1,699,999

$1,000,000 - $1,099,999

9

0

7

1 6

0 3

0

Beds3

Price

DOM

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0-1 Bedrooms

$1,115,000

105

1

2

2

100%

2 Bedrooms

$1,500,000

48

2

1

36

3%

3 Bedrooms

NA

NA

NA

0

31

0%

4 Bedrooms

$1,200,000

405

4

1

11

9%

5 Bedrooms

NA

NA

NA

0

2

0%

6+ Bedrooms

$2,925,000

47

10

1

4

25%

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 $1,008,000

$1,225,000

$1,100,000

$1,050,000

$1,300,000

$1,223,000

$1,095,000 $900,000

86

84

80

66

81

79

74

67

$992,500

$977,000

80

85

$925,004 86

86

49 4

4

9

5

Oct-19

Nov-19

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

Median Data Inventory September

Solds

October

86

86

0%

VARIANCE:

755

$

VARIANCE:

61%

October

8

5

September

$

38%

925k

1,219

September

97.61%

October

91.02%

41%

Days on Market September

7

VARIANCE: - %

21

VARIANCE:

Kauai Market Summary | October 2020 • The Kauai attached luxury market is a Buyer's Market with a 6% Sales Ratio.

• Homes sold for a median of 91.02% of list price in October 2020.

• The most active price band is $2,900,000-$3,299,999, where the sales ratio is 17%.

• The median luxury sales price for attached homes has increased to $1,300,000.

• The median days on market for October 2020 was 48 days, up from 21 in September 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

October

1.30m

$

VARIANCE:

Sale to List Price Ratio

October

$

September

VARIANCE: -

Sale Price Per SqFt. September

Sales Price

October

48

129%

Oahu Hawaii November 2020

OAHU

Single-Family Homes

Luxury Inventory vs. Sales | October 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

26

0 3

0

0

$6,250,000 - $7,249,999 $5,450,000 - $6,249,999

7 28

1 12

2

26

1 15

2

$2,250,000 - $2,449,999

$1,950,000 - $2,049,999

21

3 11

1

14

3 5 5

$1,875,000 - $1,949,999

1

12%

13

2

$2,450,000 - $2,649,999

$2,050,000 - $2,249,999

Total Sales Ratio2:

2

$3,050,000 - $3,449,999 $2,650,000 - $3,049,999

Buyer's Market

9

0

$4,050,000 - $4,649,999

207

Total Sales: 24 11

2

$4,650,000 - $5,449,999

$3,450,000 - $4,049,999

Total Inventory:

6

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,907,500

3

3

6

41

15%

3,000 - 3,999

$2,362,500

4

4

8

37

22%

4,000 - 4,999

$4,065,000

4

5

4

39

10%

5,000 - 5,999

$3,110,000

5

5

4

38

11%

6,000 - 6,999

$4,760,000

5

7

2

18

11%

7,000+

NA

NA

NA

0

33

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

Single-Family Homes

13-Month Luxury Market Trend4 Median Sales Price

Inventory

$2,940,000 $2,365,000

$2,317,938

270

265

18 Oct-19

$2,570,000

21

16

Nov-19

Dec-19

$2,300,000

253

242

238

13 Jan-20

$2,890,000

$2,613,000

242

13

Feb-20

Mar-20

$3,000,000

$2,725,000

$2,600,000

$2,900,000 $2,425,000

$2,100,500

239

234

225

17

Solds

11

10 Apr-20

May-20

234

11 Jun-20

213

21 Jul-20

209

207

23

27

Aug-20

Sep-20

24 Oct-20

Median Data Inventory September

Solds

October

209

207 1

VARIANCE: - % Sale Price Per SqFt. September

$

October

642

665

$

VARIANCE:

4%

September

Sales Price October

27

24

VARIANCE: -

September

$

2.90m

11%

September

96.15%

October

95.98%

VARIANCE:

16%

Days on Market September

0%

23

VARIANCE:

Oahu Market Summary | October 2020 • The Oahu single-family luxury market is a Buyer's Market with a 12% Sales Ratio.

• Homes sold for a median of 95.98% of list price in October 2020.

• The most active price band is $1,875,000-$1,949,999, where the sales ratio is 100%.

• The median luxury sales price for single-family homes has decreased to $2,425,000.

• The median days on market for October 2020 was 46 days, up from 23 in September 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

2.43m

$

VARIANCE: -

Sale to List Price Ratio

October

October

46

100%

OAHU

Attached Homes

Luxury Inventory vs. Sales | October 2020 Inventory

Sales

Luxury Benchmark Price 1: $835,000 $7,100,000+ $6,100,000 - $7,099,999 $5,300,000 - $6,099,999

$4,500,000 - $5,299,999 $3,900,000 - $4,499,999 $3,300,000 - $3,899,999 $2,700,000 - $3,299,999 $2,300,000 - $2,699,999

$1,900,000 - $2,299,999

$1,100,000 - $1,299,999 $1,000,000 - $1,099,999

Total Inventory:

2

0

0

1

Buyer's Market

13

0

6%

Total Sales Ratio2:

11

0

18

0

18

0

18

0

36

1

36

2

49

1

52

2 24

4

$900,000 - $999,999 $835,000 - $899,999

409

Total Sales: 24

7

$1,600,000 - $1,899,999 $1,300,000 - $1,599,999

7

1

56

8

62

5

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 999

$940,000

1

1

3

96

3%

1,000 - 1,499

$1,010,000

2

2

7

149

5%

1,500 - 1,999

$922,500

3

3

8

77

10%

2,000 - 2,499

$959,500

3

3

4

39

10%

2,500 - 2,999

NA

NA

NA

0

24

0%

3,000+

$4,792,052

3

4

2

24

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% 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 $1,115,000

425

$1,210,000

$1,162,500

Oct-19

$1,075,000

$1,043,000

400

41

$1,225,000

393

393

381

30

52

Nov-19

Dec-19

32 Jan-20

390

33

37

Feb-20

Mar-20

$949,000

$937,500

375

384

31 Apr-20

May-20

$980,829

420

415

21

14

$1,167,500

$1,045,000

Jun-20

418

409

22

30

Aug-20

Sep-20

22 Jul-20

409

24 Oct-20

Median Data Inventory September

Solds

October

409

409

VARIANCE:

0%

Sale Price Per SqFt. September

October

1,014

706

$

$

VARIANCE: -

30%

September

Sales Prices October

30

24

VARIANCE: -

September

1.42m

$

20%

95.06%

October

99.05%

VARIANCE:

31%

Days on Market September

4%

30

VARIANCE:

Oahu Market Summary | October 2020 • The Oahu attached luxury market is a Buyer's Market with a 6% Sales Ratio.

• Homes sold for a median of 99.05% of list price in October 2020.

• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 17%.

• The median luxury sales price for attached homes has decreased to $980,829.

• The median days on market for October 2020 was 40 days, up from 30 in September 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

981k

$

VARIANCE: -

Sale to List Price Ratio September

October

October

40

33%

Maui Hawaii November 2020

MAUI

Single-Family Homes

Luxury Inventory vs. Sales | October 2020 Inventory

Sales

Luxury Benchmark Price 1: $1,422,000 $7,000,000+ $6,000,000 - $6,999,999 $5,000,000 - $5,999,999

$4,500,000 - $4,999,999 $4,000,000 - $4,499,999 $3,500,000 - $3,999,999 $3,000,000 - $3,499,999

30

1 7

0

0 0

11

1

18

2

1

21

6 9

1 7

1

4

2

4

1

$1,500,000 - $1,599,999 $1,422,000 - $1,499,999

12%

17

$1,700,000 - $1,799,999 $1,600,000 - $1,699,999

Total Sales Ratio2:

0

$2,000,000 - $2,499,999

$1,800,000 - $1,899,999

Buyer's Market 11

0

173

Total Sales: 20

9

$2,500,000 - $2,999,999

$1,900,000 - $1,999,999

Total Inventory:

15

3 2

7

3

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,999

$1,725,000

1

3

1

29

3%

2,000 - 2,999

$1,677,500

3

3

10

41

24%

3,000 - 3,999

$2,425,000

4

4

7

51

14%

4,000 - 4,999

$1,999,500

4

4

2

22

9%

5,000 - 5,999

NA

NA

NA

0

14

0%

6,000+

NA

NA

NA

0

16

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

$2,612,500 $2,337,500

$2,257,500

$2,450,000 $2,100,000

Inventory

$2,311,200

$2,275,000

$1,820,000

220

198

191

20 Oct-19

219

12

18

Nov-19

Dec-19

213

11 Jan-20

Solds

181

15

Feb-20

Mar-20

$2,025,000

$1,999,999

$1,825,000

173

173

164

11

9

9

21

May-20

Jun-20

Jul-20

Aug-20

13 Apr-20

$1,995,000

180

172

168

9

$1,990,000

173

20

15 Sep-20

Oct-20

Median Data Inventory September

Solds

October

173

173

VARIANCE:

0%

Sale Price Per SqFt. September

$

October

729

674

$

8

VARIANCE: - %

Sales Price

September

October

15

VARIANCE:

20

September

$

2.00m

33%

September

95.61%

October

97.31%

VARIANCE:

1%

Days on Market September

2%

127

VARIANCE: -

Maui Market Summary | October 2020 • The Maui single-family luxury market is a Buyer's Market with a 12% Sales Ratio.

• Homes sold for a median of 97.31% of list price in October 2020.

• The most active price band is $1,422,000-$1,499,999, where the sales ratio is 67%.

• The median luxury sales price for single-family homes has increased to $2,025,000.

• The median days on market for October 2020 was 107 days, down from 127 in September 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

2.03m

$

VARIANCE:

Sale to List Price Ratio

October

October

107

16%

MAUI

Attached Homes

Luxury Inventory vs. Sales | October 2020 Inventory

Sales

Luxury Benchmark Price 1: $1,183,200 $4,000,000+

19

2

$3,000,000 - $3,999,999 $2,500,000 - $2,999,999

$1,800,000 - $1,899,999

3

0

12

1 0

12%

14

3

1

12

0

$1,300,000 - $1,349,999

1

Total Sales Ratio2:

11

1

$1,450,000 - $1,499,999

$1,183,200 - $1,249,999

Buyer's Market

5

1

172

Total Sales: 20

10

$1,500,000 - $1,599,999

$1,250,000 - $1,299,999

Total Inventory:

0

$1,600,000 - $1,699,999

$1,350,000 - $1,399,999

14

2

$1,700,000 - $1,799,999

$1,400,000 - $1,449,999

13

3

$2,000,000 - $2,499,999 $1,900,000 - $1,999,999

18

4

9

1

14

0

17

2

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 999

$1,200,000

2

2

1

20

5%

1,000 - 1,499

$1,525,000

2

2

7

58

12%

1,500 - 1,999

$2,370,000

2

3

6

47

13%

2,000 - 2,499

$2,380,000

3

4

2

24

8%

2,500 - 2,999

$4,749,995

3

4

4

21

19%

3,000+

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% MLSÂŽ data reported previous monthâ&#x20AC;&#x2122;s sales exceeded current inventory.

MAUI

Attached Homes

13-Month Luxury Market Trend4 Sale Price

Inventory

Solds

$2,275,000 $1,930,000

$2,065,500

$2,207,250

$1,980,000

$2,370,000

$2,205,000

$2,120,000

$1,725,000

$1,425,000

149

143

139

22 Oct-19

146

17

12

Nov-19

Dec-19

141

140

17 Jan-20

$1,495,000

$1,445,000

127

13

24

Feb-20

Mar-20

Apr-20

9

8

May-20

Jun-20

31

15 Jul-20

172

151

147

136

117

116

21

$1,475,000

20

9

Aug-20

Sep-20

Oct-20

Median Data Inventory September

Solds

October

151

September

172

9

14%

VARIANCE:

VARIANCE:

Sale Price Per SqFt. September

October

1,264

$

VARIANCE:

8%

October

20

September

1.48m

$

122%

September

98.23%

October

95.37%

61%

Days on Market September

3

VARIANCE: - %

107

VARIANCE:

Maui Market Summary | October 2020 • The Maui attached luxury market is a Buyer's Market with a 12% Sales Ratio.

• Homes sold for a median of 95.37% of list price in October 2020.

• The most active price band is $2,500,000-$2,999,999, where the sales ratio is 23%.

• The median luxury sales price for attached homes has increased to $2,370,000.

• The median days on market for October 2020 was 175 days, up from 107 in September 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

October

2.37m

$

VARIANCE:

Sale to List Price Ratio

1,367

$

Sales Price

October

175

64%

Island of Hawaii November 2020

ISLAND OF HAWAII

Single-Family Homes

Luxury Inventory vs. Sales | October 2020 Inventory

Sales

Luxury Benchmark Price 1: $1,075,000 $10,000,000+ $8,600,000 - $9,999,999

Total Inventory:

$2,200,000 - $2,599,999 $1,900,000 - $2,199,999 $1,600,000 - $1,899,999

15%

7

0

8

2 6

1

14

0 7

0

15

1

15

1

8

10 11

2

$1,075,000 - $1,199,999

1

Total Sales Ratio2:

8

$1,400,000 - $1,599,999

$1,200,000 - $1,399,999

Balanced Market

0

$3,000,000 - $3,599,999

143

Total Sales: 22

5

1

$3,600,000 - $4,399,999

$2,600,000 - $2,999,999

6

1

$6,200,000 - $7,399,999

$4,400,000 - $5,199,999

4

0

$7,400,000 - $8,599,999

$5,200,000 - $6,199,999

16

0

11

5

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,500,000

3

3

11

38

29%

3,000 - 3,999

$1,375,000

5

4

3

33

9%

4,000 - 4,999

$4,200,000

4

5

3

24

13%

5,000 - 5,999

$1,499,000

4

4

1

6

17%

6,000 - 6,999

NA

NA

NA

0

4

0%

7,000+

$7,500,000

6

9

1

6

17%

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

$1,492,500

$1,622,500

$1,320,000

12 Oct-19

9

18

Nov-19

Dec-19

20 Jan-20

$1,600,000

$1,487,500

$1,497,000

$1,250,000 165

160

154

145

$1,650,000

$1,569,500

$1,450,000

135

127

$1,798,750

$1,737,500

156

149

14

14

Feb-20

Mar-20

12

144

14

10

Apr-20

May-20

138

Jun-20

18

28

Aug-20

Sep-20

21 Jul-20

143

141

133

22 Oct-20

Median Data Inventory September

Solds

October

141

143

VARIANCE:

1%

Sale Price Per SqFt. September

October

601

621

$

$

VARIANCE:

3%

Sales Price

September

October

28

22

VARIANCE: -

September

$

2.03m

21%

September

95.32%

October

97.12%

VARIANCE:

26%

Days on Market September

2%

48

October

45

6

VARIANCE: - %

Island of Hawaii Market Summary | October 2020 • The Island of Hawaii single-family luxury market is a Balanced Market with a 15% Sales Ratio.

• Homes sold for a median of 97.12% of list price in October 2020.

• The most active price band is $1,400,000-$1,599,999, where the sales ratio is 80%.

• The median luxury sales price for single-family homes has decreased to $1,497,000.

• The median days on market for October 2020 was 45 days, down from 48 in September 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

1.50m

$

VARIANCE: -

Sale to List Price Ratio

October

ISLAND OF HAWAII

Attached Homes

Luxury Inventory vs. Sales | October 2020 Inventory

Sales

Luxury Benchmark Price 1: $925,000 $4,500,000+ 1

$4,000,000 - $4,499,999

3

$3,500,000 - $3,999,999

$3,100,000 - $3,499,999

$2,100,000 - $2,399,999 $1,800,000 - $2,099,999

24%

5

3

0

10

0 6

2 4

0

5

2

$1,200,000 - $1,299,999

7

2 3

1 1 1

$1,000,000 - $1,099,999

1

Total Sales Ratio2:

0

$1,300,000 - $1,399,999

$925,000 - $999,999

Seller's Market

6 3 3

$1,100,000 - $1,199,999

79

Total Sales: 19

0

$1,600,000 - $1,799,999 $1,400,000 - $1,599,999

Total Inventory: 5

2

$2,700,000 - $3,099,999 $2,400,000 - $2,699,999

9

3

11

0

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 999

$1,690,000

1

1

1

3

33%

1,000 - 1,499

NA

NA

NA

0

9

0%

1,500 - 1,999

$3,500,000

2

3

3

14

21%

2,000 - 2,499

$4,261,500

4

4

4

17

24%

2,500 - 2,999

$2,975,000

4

5

1

10

10%

3,000+

$4,225,000

4

4

4

14

29%

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

$1,150,000

$1,700,000

$1,384,500

$1,324,500

87

78

75

$1,200,000 87

6

4

8

Oct-19

Nov-19

Dec-19

86

17 Jan-20

$1,315,000

$1,117,050

84

$1,850,000 $1,480,000

$1,395,000

94

84

$2,099,500

92

87

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

19

Oct-20

Median Data Inventory September

Solds

October

82

79

4

September

Sales Price October

9

19

VARIANCE:

Sale Price Per SqFt.

Sale to List Price Ratio

October

500

1,357

$

VARIANCE:

$

171%

September

99.00%

1.48m

$

111%

VARIANCE: - %

September

September

October

100.00%

VARIANCE:

VARIANCE:

2.98m

$

101%

Days on Market September

1%

50

VARIANCE: -

Island of Hawaii Market Summary | October 2020 • The Island of Hawaii attached luxury market is a Seller's Market with a 24% Sales Ratio.

• Homes sold for a median of 100.00% of list price in October 2020.

• The most active price band is $4,000,000-$4,499,999, where the sales ratio is 300%.

• The median luxury sales price for attached homes has increased to $2,975,000.

• The median days on market for October 2020 was 11 days, down from 50 in September 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

October

October

11

78%

KAUAI

|

OAHU

|

MAUI

|

HAWAII ISLAND

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