Corcoran Pacific Properties Hawaii Luxury Market Report JAN 2022

KAUAI

|

OAHU

|

MAUI

|

HAWAII ISLAND

Luxury Market Report Hawaii, January 2022

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

Mililani Office 95-1249 Meheula Parkway, Suite No. A-5 Mililani, HI 96789 (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 7-10

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 priceper-square-foot – 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 Long-Term Trends Defining the Luxury Market in 2022 Typically, in our January market report we take the time to review what occurred during the previous year and what to expect in the upcoming year.

This year, however, we are going to review three key trends, how and why they came to be, and why they could possibly shape the luxury real estate market in 2022 and beyond.

The luxury real estate market had an outstanding year in 2021, probably one of the strongest years with historic price increases in both the single family and attached markets, and sold properties recorded numbers above 2020 despite an unprecedented decline of inventory levels.

WILL INVENTORY LEVELS INCREASE? Inventory levels started to decrease in October/November 2020. However, what was different to typical years was that the level of sales did not decline, even in the attached market, which, during the first six to seven months of pandemic, had come close to a standstill. Equally, the level of new inventory entering the market was starting to show a serious differential against the level of sales.

The beginning of 2021 marked the start of a trend that came to affect the level of sales for the rest of the year. When the spring season arrived, the new inventory levels failed to reach typical levels and demand escalated to a frenzy. By July, the luxury market started to calm down, however as inventory levels hardly rose, sales still outpaced inventory. This trend continued and by the end of 2021, a significant number of markets have less than 50-70% inventory compared to the end of 2020.

What repercussions does this trend imply for 2022? Will we see another year of low inventory, quick sales, and increased prices? Let us look at a few changed parameters that may cool this red-hot market.

Firstly, the average price for single-family homes in the top 10% of the North American market have risen close to 25% to approximately $1.7 million and attached properties in the top 10% have risen 15% to approximately $1 million. Even in the luxury market, there is always a natural threshold cap, where even the affluent start to question the viability of purchasing at what may be the top of the market.

Mostly, the affluent do not NEED to buy a property, instead they are searching for a property with desirable attributes, which usually includes a good investment return potential. If not found, they will find an alternative or wait. For instance, in 2021, new luxury communities, neighborhoods, and enclaves appeared as the affluent chose to invest away from highly competitive markets.

Secondly, it is likely that the convergence of more sellers being ready to list, believing that their properties have reached their max ROI, and a smaller buyer demand, either because they already bought in 2021 or are looking at other locations or investment opportunities, could bring some markets into a more balanced equilibrium, with supply moving closer to demand.

More inventory could be self-reinforcing as sellers recognize that in order to buy a new home that they need to put themselves in a more competitive state, which often means they need to sell their home and become cash buyers.

Lastly, 2022 will see the benefit of new inventory heading into the market. Both builders and developers, now that supply lines issues for materials have eased and the trends of luxury buyer requirements have been established, are keen to complete new projects.

MIGRATION, RELOCATIONS AND EMERGING LUXURY MARKETS One of the largest trends to unfold from the pandemic was the significant movement of individuals.

The affluent, often leaders of new trends, were certainly the first to extract themselves from densely populated markets, relocating to exurban areas until they could establish the impact of COVID-19 on their lifestyles.

COVID-19 equally had an impact on the decision process for many affluent people, from expediting their plans from downsizing, migrating to another state for the weather, taxes, jobs, or a change of lifestyle, to investing in new emerging markets, which were already attracting residential and commercial opportunities.

As trends such as remote working and flexi-hours took hold in 2021, so too did the flexibility of relocating as well as the growth of second homeownership. According to a recent report — A Look at Wealth 20211 — over 70% of individuals in the US with a net worth over $5 million now own at least two homes.

It could be fair to say that this percentage might be similar in Canada, given that both countries have a 10% national rate of second home ownership.

Heading into 2022, the trend for new ownership is considered to be an integral part of the on-going strength of the luxury real estate market.

The growth of wealth, as well as the number of new wealthy buyers entering the luxury market has continued to grow and these buyers are putting more stock in homeownership than ever before.

These new affluent will continue to underpin the market as they look to either upgrade their current home, buy additional properties, find investment opportunities, and/or divest their newfound wealth in crypto-currencies and the like, into the more stable asset of property ownership.

On the other side, are the homeowners who decided not to sell their properties during the height of the pandemic, but who are now ready to realize their equity by selling and either relocating, downsizing, or both during 2022.

Another trend important for the upcoming year is the desire for multiple ownership. The affluent who are able to work remotely are now setting up co-primary homes that allow them the flexibility of choosing to live in multiple markets that offer different lifestyles — whether that is city, countryside, mountain, lake, beach, or resort life.

Migration to emerging markets is also set to continue, as many of these smaller cities are recipients of the relocation of a major corporation or a new business center start-up. These markets are not only attracting new residents, but also providing opportunities for the affluent to set up subsidiary businesses while taking advantage of more affordable luxury properties.

HEALTH, WELLNESS, SUSTAINABILITY AND THE ENVIRONMENT 2021 saw many discussions about the state of our environment, the abuse of our health, wellness, and natural resources — which in many ways was also forced to the forefront by the pandemic.

In 2020 and 2021, luxury developers and residential and commercial builders — especially in the high-rise sector – began to recognize that individuals were no longer comfortable in small spaces or sharing common areas and there was a growing concern about the quality of control of amenities such as heating, ventilation, and air quality. Equally, it has been acknowledged that the building sector currently contributes nearly 40% of carbon emissions globally, with 70% of these in urban areas.

In 2022, the real estate industry’s leadership — the Urban Land Institute, a worldwide alliance of leading real estate owners, investors, and strategic partners — has committed to providing guidance on prioritizing sustainable development and operational practices to help inform sustainable policies at all levels of government, especially local.

In a recent study by Google, 82% of shoppers said that sustainability is a bigger focus for them now than it was before the pandemic.2 Growing trends amongst the wealthy, which clearly show an understanding of environmental and sustainability issues, could once again prove to be the leadership that directs luxury industries into rethinking and implementing new sustainable practices in their processes – and as with other trends if these prove to have longevity then they will filter down into other industry sectors.

In conclusion, 2022 may still prove to be an uneasy year, as the world still faces many uncertainties from the pandemic, environmentally, economically as well as politically, but there are bright spots as there is refocus on how, not just the affluent, but individuals in general are recognizing the need for social and environment change.

1

https://blog.coldwellbankerluxury.com/a-look-at-wealth-2021-real-estates-new-power-players/

2

https://www.thinkwithgoogle.com/consumer-insights/consumer-trends/consumer-sustainability-trends/

13-Month Market Trends For the Luxury North American Market

Single-Family Homes

Attached Homes

Single-Family List Price

Attached List Price

All data is based off median values. Median prices represent properties priced above respective city benchmark prices.

Days on Market

40

35

36

34

37

34

33

19

20

21

11 10 13

11 12

16

10 12

14 16

12 14

17

15

14 15

12

16

0 DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

OCT

$556 $436

SEP

$430

$416

$501

$514

$540 $423

$486 $406

JUN

$385

$404

MAY

$492

$521

$406

$495

$513 $398

$483 $386

$492

$496 $392

$300

$375

$400

$489

$500

$386

Price per Square Foot

$600

NOV

DEC

$200

$100

$0 DEC

JAN

FEB

MAR

APR

JUL

AUG

Sales Price vs. List Price

$2,100,000 $1,900,000 $1,700,000 $1,500,000 $1,300,000 $1,100,000 $900,000 $700,000 $500,000 DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

Discrepancies in previous month statistics between the December 2021 and January 2022 reports are due to the addition of Telluride, CO and Lake Norman, NC.

DEC

Luxury Monthly Market Review A Review of Key Market Differences Year over Year December 2020 | December 2021

Single-Family Homes December 2020

Median List Price

Median Sale Price Total Sales Ratio

$1,687,500

$1,862,222

97.72%

100.00%

$1,392,500

Median SP/LP Ratio Median Price per Sq. Ft.

December 2021

41.74% $386

$1,375,000

76.71% $436

December 2020

December 2021

Total Inventory

30,665

20,480

Total Sold

12,800

15,711

3,802

3,359

New Listings

5,998

Median Days on Market Average Home Size

34

5,117 17

Median prices represent properties priced above respective city benchmark prices.





881

2,911

New Listings

Total Sold





17

34.97%

Med. Sale Price

Days on Market

Sales Ratio

17,500

$



Single-Family homes market summary | December 2021 •

Official Market Type: Seller's Market with a 76.71% Sales Ratio.1

•

Homes are selling for an average of 100.00% of list price.

•

The median luxury threshold2 price is $937,500, and the median luxury home sales price is $1,375,000.

•

Markets with the Highest Median Sales Price: Vail ($6,400,000), Telluride ($4,325,000), Park City ($3,820,000), and Los Angeles Beach Cities ($3,695,000).

•

Markets with the Highest Sales Ratio: East Bay (666%), Waterloo Region (529%), Greater Seattle (412%) and Silicon Valley (287%).

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 Year over Year December 2020 | December 2021

Attached Homes December 2020

Median List Price

Median Sale Price

Median SP/LP Ratio Total Sales Ratio

Median Price per Sq. Ft.

December 2021

$1,024,495

$1,222,000

98.71%

100.00%

$888,500

25.88% $489

$839,000 59.49% $556

December 2020

Total Inventory New Listings

December 2021

14,455

8,149

3,741

4,848

2,841

Total Sold

Median Days on Market Average Home Size

34

2,069

2,176 16

1,890

Median prices represent properties priced above respective city benchmark prices.



665

New Listings



1,107 Total Sold





Med. Sale Price

Days on Market

48,600

$

18



33.61% Sales Ratio

Attached Homes Market Summary | December 2021 •

Official Market Type: Seller's Market with a 59.49% Sales Ratio.1

•

Attached homes are selling for an average of 100.00% of list price.

•

The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $839,900.

•

Markets with the Highest Median Sales Price: Vail ($3,985,000), Maui ($2,325,000), San Francisco ($2,300,000), and Greater Boston ($2,099,000).

•

Markets with the Highest Sales Ratio: Waterloo Region (6100%), Douglas County (1100%), GTADurham (875%) and East Bay (558%).

Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from

1

previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.

Luxury Monthly Market Review Single-Family Homes

State

Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

AB

Calgary

$1,227,500

$1,029,000

244

84

117

42

Seller's

AZ

Paradise Valley

$5,372,500

$3,278,423

92

11

36

53

Seller's

AZ

Phoenix

$849,450

$768,500

272

82

398

35

Seller's

AZ

Scottsdale

$2,612,889

$1,675,000

241

77

214

32

Seller's

AZ

Tucson

$759,950

$650,000

388

138

298

12

Seller's

BC

Mid Vancouver Island

$1,750,000

$1,626,500

120

23

8

20

Buyer's

BC

Okanagan Valley

$1,999,000

$1,520,000

331

71

47

47

Buyer's

BC

Vancouver

$4,698,000

$3,550,000

787

111

94

22

Buyer's

BC

Victoria

$2,399,900

$2,000,005

33

11

21

21

Seller's

CA

Central Coast

$4,050,000

$2,385,000

73

20

79

32

Seller's

CA

East Bay

$2,349,000

$1,950,000

59

39

393

9

Seller's

CA

Greater Palm Springs

$2,600,000

$1,725,000

131

44

116

24

Seller's

CA

Lake Tahoe

$2,982,500

$2,000,000

68

15

53

26

Seller's

CA

Los Angeles Beach Cities

$6,500,000

$3,695,000

171

32

121

19

Seller's

CA

Los Angeles City

$6,995,000

$3,612,000

391

83

204

20

Seller's

CA

Los Angeles The Valley

$3,289,000

$2,015,000

181

58

191

16

Seller's

CA

Marin County

$3,972,500

$2,810,000

28

7

39

22

Seller's

CA

Napa County

$3,995,000

$2,400,000

54

3

29

83

Seller's

CA

Orange County

$3,999,444

$2,300,000

346

108

435

10

Seller's

CA

Placer County

$1,294,000

$1,040,000

82

10

65

12

Seller's

CA

Sacramento

$930,000

$895,000

240

39

183

10

Seller's

CA

San Diego

$2,995,000

$1,850,000

309

116

420

8

Seller's

CA

San Francisco

$5,995,000

$3,330,000

36

5

76

13

Seller's

CA

San Luis Obispo County

$1,999,000

$1,375,000

83

16

67

N/A

Seller's

CA

Santa Barbara

$6,495,000

$2,987,500

76

18

46

11

Seller's

CA

Silicon Valley

$5,999,975

$3,500,000

106

46

304

8

Seller's

CA

Sonoma County

$2,295,000

$2,000,000

81

16

49

43

Seller's

CA

Ventura County

$2,995,000

$1,795,000

117

33

121

36

Seller's

CO

Boulder

$2,599,000

$1,629,744

59

12

75

44

Seller's

CO

Colorado Springs

$991,400

$850,000

149

41

128

14

Seller's

CO

Denver

$1,799,500

$1,375,000

160

43

223

8

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

CO

Douglas County

$1,712,000

$1,200,000

80

24

117

9

Seller's

CO

Durango

$1,825,000

$1,025,000

56

9

20

64

Seller's

CO

Summit County

$3,799,000

$1,600,000

17

3

11

28

Seller's

CO

Telluride

$7,645,000

$4,325,000

48

4

9

178

Balanced

CO

Vail

$5,947,500

$6,400,000

36

10

15

62

Seller's

CT

Central Connecticut

$670,000

$603,750

255

28

146

31

Seller's

CT

Coastal Connecticut

$2,397,500

$1,912,500

380

54

174

52

Seller's

DC

Washington D.C.

$4,889,000

$2,487,500

34

3

12

15

Seller's

DE

Sussex County Coastal

$1,499,900

$1,275,000

57

7

35

9

Seller's

FL

Boca Raton/Delray Beach

$3,912,500

$2,350,000

162

59

112

29

Seller's

FL

Coastal Pinellas County

$2,290,000

$1,830,000

47

14

44

10

Seller's

FL

Greater Fort Lauderdale

$1,999,900

$1,050,000

475

133

299

21

Seller's

FL

Jacksonville Beaches

$1,969,500

$1,250,000

98

31

69

15

Seller's

FL

Lee County

$1,550,000

$1,359,500

226

66

152

17

Seller's

FL

Marco Island

$3,470,000

$2,185,900

48

10

22

28

Seller's

FL

Miami

$2,290,000

$1,737,500

471

120

166

35

Seller's

FL

Naples

$5,299,000

$2,500,000

160

43

105

17

Seller's

FL

Orlando

$1,365,000

$1,200,000

280

75

157

18

Seller's

FL

Palm Beach Towns

$7,495,000

$3,640,000

103

25

46

29

Seller's

FL

Sarasota & Beaches

$2,695,000

$2,100,000

151

51

67

15

Seller's

FL

South Pinellas County

$1,725,000

$1,301,000

89

33

101

10

Seller's

FL

South Walton

$2,699,000

$2,200,000

141

48

79

15

Seller's

FL

Tampa

$975,000

$697,681

353

114

377

7

Seller's

FL

Weston

$1,375,000

$882,000

19

9

44

11

Seller's

GA

Atlanta

$1,650,000

$1,267,500

322

72

198

15

Seller's

GA

Duluth

$950,000

$1,510,000

7

4

11

7

Seller's

HI

Island of Hawaii

$2,895,000

$1,650,000

59

23

41

26

Seller's

HI

Kauai

$3,900,000

$2,312,500

57

14

22

44

Seller's

HI

Maui

$3,925,000

$2,162,500

106

30

30

82

Seller's

HI

Oahu

$3,500,000

$2,690,000

150

27

51

17

Seller's

ID

Northern

$1,200,000

$845,000

141

22

151

76

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

IL

Chicago

$1,554,995

$1,300,000

372

65

295

25

Seller's

IL

DuPage County

$1,249,000

$935,000

195

30

91

39

Seller's

IL

Lake County

$1,197,450

$925,000

170

20

107

46

Seller's

IL

Will County

$750,000

$574,500

131

21

86

22

Seller's

IN

Hamilton County

$970,000

$739,900

43

20

87

4

Seller's

KS

Johnson County

$829,377

$803,495

141

15

104

4

Seller's

MA

Greater Boston

$3,975,000

$2,587,500

53

4

52

21

Seller's

MD

Anne Arundel County

$1,100,000

$925,000

85

28

103

6

Seller's

MD

Frederick County

$886,995

$899,000

42

13

23

8

Seller's

MD

Howard County

$1,198,995

$1,000,000

58

12

34

7

Seller's

MD

Montgomery County

$2,300,000

$1,625,000

60

19

105

8

Seller's

MD

Talbot County

$3,212,500

$2,250,000

26

3

16

16

Seller's

MD

Worcester County

$1,173,000

$985,000

32

6

17

28

Seller's

MI

Livingston County

$800,000

$639,500

53

13

20

37

Seller's

MI

Monroe County

$749,900

$565,000

13

4

4

79

Seller's

MI

Oakland County

$829,700

$637,000

439

103

279

17

Seller's

MI

Washtenaw County

$900,000

$715,000

97

20

38

10

Seller's

MI

Wayne County

$796,250

$580,000

122

30

89

17

Seller's

MN

Olmsted County

$889,900

$779,500

44

6

26

23

Seller's

MN

Twin Cities

$1,295,000

$1,049,900

329

91

171

17

Seller's

MO

Kansas City

$655,000

$643,845

543

84

353

6

Seller's

MO

St. Louis

$849,950

$630,500

66

18

78

7

Seller's

NC

Charlotte

$1,195,000

$954,750

213

43

268

6

Seller's

NC

Lake Norman

$1,050,104

$1,024,999

91

13

77

9

Seller's

NC

Raleigh-Durham

$1,333,000

$917,500

133

31

206

2

Seller's

NJ

Ocean County

$977,450

$815,000

210

48

161

22

Seller's

NV

Lake Tahoe

$4,475,000

$1,952,000

28

4

11

101

Seller's

NV

Las Vegas

$825,000

$725,000

1,022

306

670

17

Seller's

NV

Reno

$2,369,500

$1,755,000

42

8

29

75

Seller's

NY

Brooklyn

$1,799,000

$1,545,000

214

27

36

109

Balanced

Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.

Luxury Monthly Market Review Single-Family Homes

State

Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

NY

Nassau County

$1,999,000

$1,500,000

519

88

143

67

Seller's

NY

Staten Island

$1,299,450

$1,290,000

94

19

19

56

Balanced

NY

Suffolk County

$1,850,000

$1,300,000

614

82

182

50

Seller's

OH

Cincinnati

$819,000

$705,250

171

12

42

9

Seller's

OH

Cleveland Suburbs

$855,182

$555,000

18

1

18

29

Seller's

ON

GTA - Durham

$2,474,950

$1,530,000

42

34

79

7

Seller's

ON

GTA - York

$3,198,000

$1,946,944

167

138

208

9

Seller's

ON

Oakville

$7,015,000

$2,250,000

12

14

33

6

Seller's

ON

Toronto

$3,895,000

$2,982,500

179

57

76

13

Seller's

ON

Waterloo Region

$1,874,444

$1,312,385

14

16

74

7

Seller's

OR

Portland

$1,722,500

$1,100,000

170

33

202

10

Seller's

SC

Charleston

$2,024,500

$1,512,500

126

47

128

10

Seller's

TN

Nashville

$2,750,000

$1,400,000

118

34

219

3

Seller's

TX

Austin

$1,075,000

$950,000

212

84

363

8

Seller's

TX

Collin County

$727,400

$679,500

234

91

404

8

Seller's

TX

Dallas

$1,472,500

$1,150,000

120

40

151

10

Seller's

TX

Denton County

$817,500

$700,000

162

70

277

6

Seller's

TX

Fort Worth

$942,023

$785,000

287

108

277

8

Seller's

TX

Houston

$975,000

$880,000

894

189

377

28

Seller's

TX

San Angelo

$745,000

$565,000

51

0

7

59

Buyer's

TX

San Antonio

$799,950

$752,818

246

53

146

27

Seller's

TX

The Woodlands & Spring

$991,680

$776,950

122

35

130

12

Seller's

UT

Park City

$4,950,000

$3,820,000

71

24

40

23

Seller's

VA

Arlington & Alexandria

$2,197,000

$1,799,500

50

13

34

17

Seller's

VA

Charlottesville

$1,474,500

$1,000,000

66

7

36

17

Seller's

VA

Fairfax County

$2,435,000

$1,577,500

161

45

134

16

Seller's

VA

McLean & Vienna

$3,139,000

$2,150,000

92

26

53

11

Seller's

VA

Richmond

$800,000

$765,000

109

17

128

7

Seller's

WA

Greater Seattle

$2,290,000

$1,750,000

111

48

457

5

Seller's

WA

Seattle

$3,050,000

$1,699,900

45

10

105

6

Seller's

Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.

Luxury Monthly Market Review Attached Homes

State

Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

AB

Calgary

$782,725

$683,750

100

19

12

32

Buyer's

AZ

Paradise Valley

-

-

-

-

-

-

-

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$1,312,000

$805,000

64

26

82

39

Seller's

AZ

Tucson

-

-

-

-

-

-

-

BC

Mid Vancouver Island

$840,000

$805,000

61

13

1

5

Buyer's

BC

Okanagan Valley

-

-

-

-

-

-

-

BC

Vancouver

$2,099,950

$1,700,000

560

107

103

29

Balanced

BC

Victoria

$1,299,999

$932,500

73

41

46

14

Seller's

CA

Central Coast

$1,272,500

$1,040,000

6

4

18

7

Seller's

CA

East Bay

$999,498

$1,102,500

24

13

134

10

Seller's

CA

Greater Palm Springs

-

-

-

-

-

-

-

CA

Lake Tahoe

$1,495,000

$1,652,990

9

0

11

28

Seller's

CA

Los Angeles Beach Cities

$2,375,000

$1,675,000

57

10

85

12

Seller's

CA

Los Angeles City

$1,899,000

$1,395,000

224

60

105

17

Seller's

CA

Los Angeles The Valley

$854,475

$799,500

38

18

86

16

Seller's

CA

Marin County

$1,340,000

$1,047,500

4

1

12

27

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$1,124,945

$1,000,000

85

55

201

8

Seller's

CA

Placer County

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,499,999

$1,042,500

91

53

190

7

Seller's

CA

San Francisco

$3,000,000

$2,300,000

62

9

45

25

Seller's

CA

San Luis Obispo County

-

-

-

-

-

-

-

CA

Santa Barbara

$2,570,000

$1,300,000

6

2

9

5

Seller's

CA

Silicon Valley

$1,660,000

$1,660,000

27

22

110

9

Seller's

CA

Sonoma County

$878,382

$760,000

5

2

10

31

Seller's

CA

Ventura County

$879,000

$751,000

27

9

36

16

Seller's

CO

Boulder

$1,299,000

$814,606

17

5

32

42

Seller's

CO

Colorado Springs

-

-

-

-

-

-

-

CO

Denver

$1,050,000

$912,250

87

19

52

30

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

Douglas County

$525,000

$560,456

1

2

11

4

Seller's

CO

Durango

$769,500

$762,450

8

6

8

74

Seller's

CO

Summit County

$2,124,000

$1,212,500

2

1

6

9

Seller's

CO

Telluride

-

-

-

-

-

-

-

CO

Vail

$6,525,000

$3,985,000

45

11

16

5

Seller's

CT

Central Connecticut

-

-

-

-

-

-

-

CT

Coastal Connecticut

$1,400,000

$809,500

115

7

48

52

Seller's

DC

Washington D.C.

$2,000,000

$1,649,000

138

23

80

14

Seller's

DE

Sussex County Coastal

$1,045,000

$839,900

12

3

17

5

Seller's

FL

Boca Raton/Delray Beach

$1,859,000

$935,000

131

55

118

16

Seller's

FL

Coastal Pinellas County

$1,489,875

$1,000,000

62

22

40

8

Seller's

FL

Greater Fort Lauderdale

$940,000

$760,000

537

109

173

35

Seller's

FL

Jacksonville Beaches

$1,197,500

$835,000

20

6

12

49

Seller's

FL

Lee County

$967,489

$770,000

71

29

91

9

Seller's

FL

Marco Island

$4,345,000

$1,450,000

4

2

18

32

Seller's

FL

Miami

$1,509,000

$1,295,000

1,162

217

213

85

Balanced

FL

Naples

$2,250,000

$1,800,000

117

62

80

11

Seller's

FL

Orlando

$775,000

$545,000

65

23

26

22

Seller's

FL

Palm Beach Towns

$1,749,000

$1,772,500

95

25

40

15

Seller's

FL

Sarasota & Beaches

$2,440,800

$1,399,000

64

26

47

9

Seller's

FL

South Pinellas County

$1,478,000

$927,500

78

29

62

7

Seller's

FL

South Walton

$1,289,360

$1,225,000

120

7

19

35

Balanced

FL

Tampa

$1,200,000

$615,000

40

12

49

12

Seller's

FL

Weston

-

-

-

-

-

-

-

GA

Atlanta

$750,000

$599,938

311

72

190

24

Seller's

GA

Duluth

-

-

-

-

-

-

-

HI

Island of Hawaii

$2,200,000

$1,461,560

29

7

20

11

Seller's

HI

Kauai

$1,350,000

$1,420,516

31

5

22

26

Seller's

HI

Maui

$2,337,500

$2,325,000

48

26

34

68

Seller's

HI

Oahu

$1,299,000

$935,000

327

85

120

15

Seller's

ID

Northern

-

-

-

-

-

-

-

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

IL

Chicago

$1,287,500

$945,000

490

42

162

82

Seller's

IL

DuPage County

$849,450

$624,500

18

1

12

54

Seller's

IL

Lake County

-

-

-

-

-

-

-

IL

Will County

-

-

-

-

-

-

-

IN

Hamilton County

-

-

-

-

-

-

-

KS

Johnson County

$615,000

$605,867

56

8

26

8

Seller's

MA

Greater Boston

$2,595,000

$2,099,000

173

25

83

22

Seller's

MD

Anne Arundel County

$557,990

$570,000

35

22

49

6

Seller's

MD

Frederick County

-

-

-

-

-

-

-

MD

Howard County

$694,988

$565,000

10

7

19

8

Seller's

MD

Montgomery County

$784,874

$690,000

54

23

75

21

Seller's

MD

Talbot County

-

-

-

-

-

-

-

MD

Worcester County

$749,900

$639,900

55

12

31

36

Seller's

MI

Livingston County

-

-

-

-

-

-

-

MI

Monroe County

-

-

-

-

-

-

-

MI

Oakland County

$845,000

$626,450

41

17

32

6

Seller's

MI

Washtenaw County

$650,000

$615,000

32

3

7

39

Seller's

MI

Wayne County

$659,965

$607,500

70

7

8

24

Buyer's

MN

Olmsted County

-

-

-

-

-

-

-

MN

Twin Cities

-

-

-

-

-

-

-

MO

Kansas City

-

-

-

-

-

-

-

MO

St. Louis

-

-

-

-

-

-

-

NC

Charlotte

$817,780

$621,796

102

17

63

10

Seller's

NC

Lake Norman

$539,900

$627,500

5

0

4

23

Seller's

NC

Raleigh-Durham

-

-

-

-

-

-

-

NJ

Ocean County

$729,000

$697,500

17

4

12

13

Seller's

NV

Lake Tahoe

$2,550,000

$1,372,500

5

1

8

38

Seller's

NV

Las Vegas

-

-

-

-

-

-

-

NV

Reno

-

-

-

-

-

-

-

NY

Brooklyn

$1,480,000

$1,225,000

401

73

77

66

Balanced

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

Luxury Monthly Market Review Attached Homes

State

Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

NY

Nassau County

$1,669,000

$1,087,500

71

9

16

93

Seller's

NY

Staten Island

$599,999

$600,000

38

9

39

35

Seller's

NY

Suffolk County

$749,000

$598,000

67

18

50

27

Seller's

OH

Cincinnati

$758,090

$580,000

30

1

2

60

Buyer's

OH

Cleveland Suburbs

-

-

-

-

-

-

-

ON

GTA - Durham

$1,275,450

$825,000

4

6

35

6

Seller's

ON

GTA - York

$868,950

$755,000

36

60

113

8

Seller's

ON

Oakville

$3,040,000

$1,350,000

14

19

23

5

Seller's

ON

Toronto

$1,299,500

$1,110,001

346

194

228

18

Seller's

ON

Waterloo Region

$949,900

$815,000

1

11

61

7

Seller's

OR

Portland

-

-

-

-

-

-

-

SC

Charleston

$1,222,000

$839,900

59

16

43

27

Seller's

TN

Nashville

$985,000

$672,500

31

9

46

17

Seller's

TX

Austin

$1,032,000

$784,500

66

31

92

15

Seller's

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$937,500

$718,000

94

25

55

23

Seller's

TX

Denton County

-

-

-

-

-

-

-

TX

Fort Worth

-

-

-

-

-

-

-

TX

Houston

$639,950

$635,000

111

32

43

24

Seller's

TX

San Angelo

-

-

-

-

-

-

-

TX

San Antonio

$737,500

$642,000

28

10

7

76

Seller's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$2,695,000

$1,850,000

17

11

45

3

Seller's

VA

Arlington & Alexandria

$1,149,000

$960,000

51

20

62

10

Seller's

VA

Charlottesville

$949,950

$609,250

18

5

14

4

Seller's

VA

Fairfax County

$783,490

$699,990

76

33

141

8

Seller's

VA

McLean & Vienna

$1,332,000

$930,000

21

7

17

24

Seller's

VA

Richmond

-

-

-

-

-

-

-

WA

Greater Seattle

$1,497,475

$1,050,000

84

18

87

7

Seller's

WA

Seattle

$1,773,975

$1,239,000

62

10

21

8

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 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 December 2021.

As we close out the year of 2021, one word comes to mind to describe the luxury real estate market in Hawaii: “phenomenal”! The growth of this sector of the market has truly been astonishing to witness during the last year, especially for the attached market.

While 2020 had seen a significant increase in demand for single family homes, the attached property market saw little activity as the affluent shied away from densely located properties.

When travel restrictions for entering Hawaii were lifted on October 15, 2020, the single family property market exploded. Trends show that the next 15 months consisted of high demand, a record breaking number of sales, and declining inventory levels - all of which resulted in ever increasing price points.

At the end of 2021, in comparison to 2020, the median luxury single family sold price increased by 7.8%; after an already strong year in 2020.

The luxury attached property market started to rebound as more people were vaccinated and the vacation season arrived. Trends show that as of April 2021 the number of properties purchased grew steadily and, compared to their corresponding months in 2020, sales were 200% higher on average.

In a similar trend to the single family market, as demand increased for attached homes, inventory levels dropped. In turn, this drove prices up each month. At the end of 2021, compared to the median sold price in April 2021, prices have increased by 13.4%.

Overall, the Hawaiian luxury market has gradually started to slow and there has been a gradual return to a more typical seasonal variation over the last few months. Expectations for 2022 anticipate that seasonal trends will continue, with the spring market seeing more properties enter into the market.

Second home purchases by the affluent are forecast to be in vogue for 2022, which, together with the return of the tourist, will drive the luxury real estate market. Hawaii offers the perfect fit for the wealthy’s changing priorities, which have moved away from just a vacation property to becoming either their permanent residence or a second primary residence.

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

January

2022

Kauai Hawaii

KAUAI

Single-Family Homes

Luxury Inventory vs. Sales | December 2021 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

19

1 0 0

1

1

Seller's Market

3

1 2

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

3 5 5

$2,200,000 - $2,599,999 2

$1,800,000 - $2,199,999 $1,600,000 - $1,799,999

$1,300,000 - $1,399,999 $1,200,000 - $1,299,999

1

39%

3 3

$3,000,000 - $3,399,999

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

Total Sales Ratio2:

7

1

$3,400,000 - $3,899,999

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

57

Total Sales: 22 2

0

$3,900,000 - $4,399,999

Total Inventory:

4

6

2 3

0 0 0

1 1

1

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

2

0%

2 Bedrooms

$2,525,000

126

2

4

2

200%

3 Bedrooms

$2,225,000

19

3

10

23

43%

4 Bedrooms

$2,500,000

48

4

5

19

26%

5 Bedrooms

$1,991,000

43

4

3

6

50%

6+ Bedrooms

NA

NA

NA

0

5

0%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

KAUAI

Single-Family Homes

13-Month Luxury Market Trend4 Median Sales Price

$2,187,500

$2,375,000

$2,154,750 $1,899,500

101

91

14

Dec-20

89

84

20

14

Jan-21

$1,839,500

Feb-21

$1,862,500

85

22

Mar-21

Inventory

$2,212,500

$1,935,000

Apr-21

$2,312,500

$2,030,000

$1,875,000

$1,683,250

73

18

Solds

56 24

May-21

57

55 30

20

Jun-21

Jul-21

48

Aug-21

48 14

Sep-21

57

47

24

16

$1,789,000

Oct-21

19

22

Nov-21

Dec-21

Median Data Review | December Total Inventory Dec. 2020

Total Solds

Dec. 2021

91

57 VARIANCE: -37 % Sale Price Per SqFt. Dec. 2020

$

818 VARIANCE: 3 % $

Dec. 2021

14

22 VARIANCE: 57 %

Dec. 2020

$

2.19m

Dec. 2020

Dec. 2021

$

Days on Market Dec. 2020

96.18%

96.89% VARIANCE: 1 %

48

Dec. 2021

44 VARIANCE: -8 %

Kauai Market Summary | December 2021 • The Kauai single-family luxury market is a Seller's Market with a 39% Sales Ratio.

• Homes sold for a median of 96.89% of list price in December 2021.

• The most active price band is $1,800,000-$2,199,999, where the sales ratio is 200%.

• The median luxury sales price for single-family homes is $2,312,500.

• The median days on market for December 2021 was 44 days, down from 48 in December 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

Dec. 2021

2.31m VARIANCE: 6 %

Sale to List Price Ratio

Dec. 2021

794

Dec. 2020

Sales Price

KAUAI

Attached Homes

KAUAI

Luxury Inventory vs. Sales | December 2021 Inventory

Attached Homes

Sales

Luxury Benchmark Price 1: $950,000 $5,000,000+ $4,500,000 - $4,999,999 $4,000,000 - $4,499,999

0 0 0

$3,600,000 - $3,999,999

0

$3,200,000 - $3,599,999

0

1 1

1

Seller's Market

3

2

0 0 3

2 0 0 2

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

3

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

4

3

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

8

3

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

1

71%

Total Sales Ratio2:

1

$2,100,000 - $2,399,999

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

31

Total Sales: 22 2

$2,800,000 - $3,199,999 $2,400,000 - $2,799,999

Total Inventory:

4

2

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

2 2

$950,000 - $999,999

2 2

Beds3

Price

DOM

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0-1 Bedrooms

$1,015,250

17

2

2

2

100%

2 Bedrooms

$1,325,000

19

3

6

18

33%

3 Bedrooms

$1,838,016

26

3

8

5

160%

4 Bedrooms

$1,725,000

76

4

3

5

60%

5 Bedrooms

$2,550,000

91

5

2

1

200%

6+ Bedrooms

$3,400,000

195

6

1

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 Sale Price

Inventory

Solds

$1,565,000 $1,395,000

$1,299,000

67

$1,150,000

59

6

Dec-20

55

55

Jan-21

44

13

14

Feb-21

Mar-21

11

$1,199,000

$1,189,125

$1,282,500

39 13

Apr-21

28

20

May-21

$1,495,000

$1,350,000

$1,255,000

41

35

25

$1,375,000

Jun-21

20

Jul-21

40

28 13

15

Aug-21

Sep-21

$1,420,516

$1,375,000

34

31

19

15

Oct-21

Nov-21

22

Dec-21

Median Data Review | December Total Inventory Dec. 2020

Dec. 2021

Dec. 2020

Dec. 2021

67

31 VARIANCE: -54 %

22 VARIANCE: 267 %

Sale Price Per SqFt.

Sale to List Price Ratio

Dec. 2020

$

Total Solds

Dec. 2021

986

930 VARIANCE: -6 % $

6

Dec. 2020

Dec. 2021

96.49%

99.10% VARIANCE: 3 %

Sales Price Dec. 2020

$

1.57m

1.42m VARIANCE: -9 % $

Days on Market Dec. 2020

40

Dec. 2021

26 VARIANCE: -35 %

Kauai Market Summary | December 2021 • The Kauai attached luxury market is a Seller's Market with a 71% Sales Ratio.

• Homes sold for a median of 99.10% of list price in December 2021.

• The most active price band is $1,600,000-$1,799,999, where the sales ratio is 150%.

• The median luxury sales price for attached homes is $1,420,516.

• The median days on market for December 2021 was 26 days, down from 40 in December 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

Dec. 2021

January

2022

Oahu Hawaii

OAHU

Single-Family Homes

Luxury Inventory vs. Sales | December 2021 Inventory

Sales

Luxury Benchmark Price 1: $1,750,000 $9,500,000+

1 1

$8,500,000 - $9,499,999 $7,500,000 - $8,499,999 $6,500,000 - $7,499,999

$5,500,000 - $6,499,999

27

0

Total Inventory: 5

0

Seller's Market

12

4

7

1

$3,500,000 - $4,099,999

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

12

8 9

2

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

20

9

$2,100,000 - $2,299,999

4

$1,900,000 - $2,099,999

5 10

5 5

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

1

15

9

$2,300,000 - $2,699,999

$1,750,000 - $1,799,999

Total Sales Ratio2: 34%

10

0

$4,700,000 - $5,499,999 $4,100,000 - $4,699,999

Total Sales: 51

3

0

150

6

9

2

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$2,300,000

3

3

21

41

51%

3,000 - 3,999

$2,624,500

4

4

16

23

70%

4,000 - 4,999

$2,907,500

5

4

6

26

23%

5,000 - 5,999

$4,200,000

4

4

7

14

50%

6,000 - 6,999

NA

NA

NA

0

11

0%

7,000+

$2,050,000

6

6

1

35

3%

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

$2,200,000

208

$2,650,000

$2,365,000

$2,250,000

174

50

Dec-20

172

49

Feb-21

Mar-21

$2,527,500

$2,270,000

169

168

40

29 Jan-21

170

$2,430,000

Inventory

49

Apr-21

67

May-21

$2,340,000

178

150 60

$2,552,500

Solds

174

Jun-21

Jul-21

174

59

Aug-21

Sep-21

$2,690,000

$2,557,500

159

66

56

$2,505,000

$2,425,000

159 66

Oct-21

150 58

51

Nov-21

Dec-21

Median Data Review | December Total Inventory Dec. 2020

Total Solds

Dec. 2021

208

150 VARIANCE: -28 % Sale Price Per SqFt.

Dec. 2020

$

830 VARIANCE: 29 % $

Dec. 2021

50

51 VARIANCE: 2 %

Dec. 2020

$

2.20m

Dec. 2020

Dec. 2021

$

Days on Market Dec. 2020

96.94%

100.00% VARIANCE: 3 %

50

Dec. 2021

17 VARIANCE: -66 %

Oahu Market Summary | December 2021 • The Oahu single-family luxury market is a Seller's Market with a 34% Sales Ratio.

• Homes sold for a median of 100.00% of list price in December 2021.

• The most active price band is $1,800,000-$1,899,999, where the sales ratio is 120%.

• The median luxury sales price for single-family homes is $2,690,000.

• The median days on market for December 2021 was 17 days, down from 50 in December 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

Dec. 2021

2.69m VARIANCE: 22 %

Sale to List Price Ratio

Dec. 2021

641

Dec. 2020

Sales Price

OAHU

Attached Homes

Luxury Inventory vs. Sales | December 2021 Inventory

Sales

Luxury Benchmark Price 1: $750,000 $7,000,000+ $6,000,000 - $6,999,999 $5,200,000 - $5,999,999

2

0 0

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

1

Seller's Market

9

Total Sales Ratio2: 37%

13

1 8

0

13

3

$2,200,000 - $2,599,999

23

4

34

2

$1,500,000 - $1,799,999

33

9

$1,200,000 - $1,499,999

42

9

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

35

16

$900,000 - $999,999

32

22

$800,000 - $899,999

39

27

$750,000 - $799,999

1

327

Total Sales: 120

$2,600,000 - $3,199,999

$1,800,000 - $2,199,999

Total Inventory:

1

$3,800,000 - $4,399,999 $3,200,000 - $3,799,999

6

3

37

23

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 999

$875,000

1

2

35

133

26%

1,000 - 1,499

$995,000

2

2

45

85

53%

1,500 - 1,999

$915,500

3

2

26

52

50%

2,000 - 2,499

$825,000

3

3

3

28

11%

2,500 - 2,999

$1,700,000

3

3

3

11

27%

3,000+

$3,625,000

3

4

8

18

44%

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

$890,000

394

$903,500

$875,000

360

345

55 Dec-20

338

$949,000

324

76

87

Feb-21

Mar-21

44

Jan-21

$970,000

$981,500

Apr-21

$960,000

Solds

$955,000 $875,000

301

83

Inventory

121

88

May-21

Jun-21

125

Jul-21

146

Aug-21

351

116

101

Sep-21

$935,000

$900,000

355

329

283

278

273

$947,000

$910,000

327

120

105

Oct-21

Nov-21

Dec-21

Median Data Review | December Total Inventory Dec. 2020

Total Solds

Dec. 2021

394

Dec. 2021

327 VARIANCE: -17 %

120 VARIANCE: 118 %

Sale Price Per SqFt.

Sale to List Price Ratio

Dec. 2020

$

Dec. 2020

Dec. 2021

713

879 VARIANCE: 23 % $

55

Dec. 2020

Dec. 2021

Sales Price Dec. 2020

890k

$

935k VARIANCE: 5 % $

Days on Market Dec. 2020

98.71%

100.00% VARIANCE: 1 %

32

Dec. 2021

15 VARIANCE: -53 %

Oahu Market Summary | December 2021 • The Oahu attached luxury market is a Seller's Market with a 37% Sales Ratio.

• Homes sold for a median of 100.00% of list price in December 2021.

• The most active price band is $800,000-$899,999, where the sales ratio is 69%.

• The median luxury sales price for attached homes is $935,000.

• The median days on market for December 2021 was 15 days, down from 32 in December 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

Dec. 2021

January

2022

Maui Hawaii

MAUI

Single-Family Homes

Luxury Inventory vs. Sales | December 2021 Inventory

Sales

Luxury Benchmark Price 1: $1,500,000 $12,000,000+ $9,900,000 - $11,999,999

6

0

$7,900,000 - $9,899,999

5

1

$5,900,000 - $7,899,999

14

2

$4,900,000 - $5,899,999 $3,900,000 - $4,899,999

10

1

8

1

11

0

$3,400,000 - $3,899,999

4

1

$2,900,000 - $3,399,999

$2,400,000 - $2,899,999

7

1

0

4

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

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

1

10

4 1

Total Inventory:

2

106

Total Sales: 30

3

$1,600,000 - $1,699,999 $1,500,000 - $1,599,999

13

4

$2,200,000 - $2,399,999 $2,000,000 - $2,199,999

7

3

5

Seller's Market

7

1

Total Sales Ratio2:

28%

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,999

$2,015,000

2

2

7

33

21%

2,000 - 2,999

$1,722,808

3

3

11

25

44%

3,000 - 3,999

$2,175,000

4

3

5

24

21%

4,000 - 4,999

$2,550,000

4

6

3

12

25%

5,000 - 5,999

$6,900,000

5

6

3

4

75%

6,000+

$17,500,000

6

9

1

8

13%

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

$3,550,000

$2,775,000

$2,600,000

$2,412,500

155

129

26

Dec-20

125

116

29

35

Feb-21

Mar-21

24 Jan-21

116

$2,495,000

$2,680,000

Apr-21

$2,575,000

$2,332,500

112

May-21

103 40

39

34

$2,775,000

$2,198,000

118

103

43

$2,874,500

Jun-21

Jul-21

$2,420,000

104

102 30

32

Aug-21

Sep-21

$2,162,500

106

92 49

Oct-21

27

30

Nov-21

Dec-21

Median Data Review | December Total Inventory Dec. 2020

Total Solds

Dec. 2021

155

106 VARIANCE: -32 % Sale Price Per SqFt.

Dec. 2020

$

868 VARIANCE: 3 % $

Dec. 2021

26

30 VARIANCE: 15 %

Dec. 2020

$

2.78m

Dec. 2020

Dec. 2021

$

Days on Market Dec. 2020

97.16%

100.00% VARIANCE: 3 %

74

Dec. 2021

82 VARIANCE: 11 %

Maui Market Summary | December 2021 • The Maui single-family luxury market is a Seller's Market with a 28% Sales Ratio.

• Homes sold for a median of 100.00% of list price in December 2021.

• The most active price band is $1,700,000-$1,799,999, where the sales ratio is 200%.

• The median luxury sales price for single-family homes is $2,162,500.

• The median days on market for December 2021 was 82 days, up from 74 in December 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

Dec. 2021

2.16m VARIANCE: -22 %

Sale to List Price Ratio

Dec. 2021

840

Dec. 2020

Sales Price

MAUI

Attached Homes

Luxury Inventory vs. Sales | December 2021 Inventory

Sales

Luxury Benchmark Price 1: $1,200,000 $4,500,000+ $3,600,000 - $4,499,999

3

$3,100,000 - $3,599,999

1

1

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

0

$1,400,000 - $1,499,999 $1,300,000 - $1,399,999 $1,200,000 - $1,299,999

1

Seller's Market Total Sales Ratio2: 5

71%

3

1

0

3 3

0 1

$1,600,000 - $1,699,999 $1,500,000 - $1,599,999

48

Total Sales: 34

3

$2,200,000 - $2,399,999

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

Total Inventory:

2

$2,400,000 - $2,599,999

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

4

3

1

$2,600,000 - $3,099,999

$2,000,000 - $2,199,999

13

5

2

5

2 1

4 3

1 1

2

7

2

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 999

$1,632,500

2

2

6

11

55%

1,000 - 1,499

$1,587,500

2

2

10

13

77%

1,500 - 1,999

$2,574,000

3

3

12

3

400%

2,000 - 2,499

$3,795,000

3

4

3

9

33%

2,500 - 2,999

$7,425,000

3

4

1

11

9%

3,000+

$14,647,500

4

5

2

1

200%

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 Sale Price

Inventory

Solds

$2,325,000

$2,249,000 $2,025,000 $1,800,000

$1,700,000

$1,500,000

$1,700,000

$1,746,250

$1,648,000

$1,500,000

$1,769,000

$2,000,000

$1,927,000

164 109

104

69 37

Dec-20

Jan-21

58

25

15

Feb-21

Mar-21

62

52

Apr-21

48

50

38

May-21

42

37

Jun-21

47

Jul-21

25

36

Aug-21

27

40

31

Sep-21

34

31

Oct-21

48

34

Nov-21

34

Dec-21

Median Data Review | December Total Inventory Dec. 2020

Total Solds

Dec. 2021

164

48 VARIANCE: -71 %

$

952

34 VARIANCE: -8 %

Dec. 2020

$

1.50m

1,630 VARIANCE: 71 %

Dec. 2020

Dec. 2021

100.00% 100.00% VARIANCE: 0 %

$

Days on Market Dec. 2020

119

Dec. 2021

68 VARIANCE: -43 %

Maui Market Summary | December 2021 • The Maui attached luxury market is a Seller's Market with a 71% Sales Ratio.

• Homes sold for a median of 100.00% of list price in December 2021.

• The most active price band is $1,500,000-$1,599,999, where the sales ratio is 400%.

• The median luxury sales price for attached homes is $2,325,000.

• The median days on market for December 2021 was 68 days, down from 119 in December 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

Dec. 2021

2.33m VARIANCE: 55 %

Sale to List Price Ratio

Dec. 2021

$

Dec. 2021

37

Sale Price Per SqFt. Dec. 2020

Dec. 2020

Sales Price

January

2022

Island of Hawaii

ISLAND OF HAWAII

Single-Family Homes

Luxury Inventory vs. Sales | December 2021 Inventory

Sales

Luxury Benchmark Price 1: $1,100,000 $9,000,000+ $7,800,000 - $8,999,999

0

$6,800,000 - $7,799,999

1

Total Inventory:

Total Sales Ratio2:

0

$4,200,000 - $4,999,999

Seller's Market

2

1

3

1

7

2 4 4

$2,800,000 - $3,399,999 2

$2,400,000 - $2,799,999 $2,000,000 - $2,399,999

3 7

1

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

7

2 5 5

$1,400,000 - $1,699,999 0

5 4

$1,200,000 - $1,299,999 3

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

1

69%

2

$3,400,000 - $4,199,999

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

59

Total Sales: 41

3

1

$5,800,000 - $6,799,999

$5,000,000 - $5,799,999

11

3

6 5

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,650,000

3

3

15

23

65%

3,000 - 3,999

$2,740,000

4

4

7

9

78%

4,000 - 4,999

$3,012,500

5

6

4

3

133%

5,000 - 5,999

$8,850,000

5

6

4

6

67%

6,000 - 6,999

NA

NA

NA

0

2

0%

7,000+

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% 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

$2,400,000 $2,137,500

$1,632,500

$1,595,000

120

107

28

Dec-20

$2,225,000

$2,001,500

93

Jan-21

$1,800,000

$1,760,000

77

72

67

36

43

Feb-21

Mar-21

31

$1,990,000

42

Apr-21

63 40

$1,630,000

57 27

May-21

$1,775,000

Jun-21

Jul-21

64

60

53 27

28

Aug-21

Sep-21

24

$1,650,000

$1,502,500

64

24

59

24

Oct-21

Nov-21

41

Dec-21

Median Data Review | December Total Inventory Dec. 2020

Dec. 2021

120

59 VARIANCE: -51 % Sale Price Per SqFt.

Dec. 2020

$

Dec. 2021

714

867 VARIANCE: 21 % $

Total Solds Dec. 2020

Dec. 2021

28

41 VARIANCE: 46 %

Sales Price Dec. 2020

$

2.14m

1.65m VARIANCE: -23 %

Sale to List Price Ratio Dec. 2020

Dec. 2021

96.28%

100.00% VARIANCE: 4 %

Dec. 2021

$

Days on Market Dec. 2020

Dec. 2021

26

26 VARIANCE: 0 %

Island of Hawaii Market Summary | December 2021 • The Island of Hawaii single-family luxury market is a Seller's Market with a 69% Sales Ratio.

• Homes sold for a median of 100.00% of list price in December 2021.

• The most active price band is $1,100,000-$1,199,999, where the sales ratio is 167%.

• The median luxury sales price for single-family homes is $1,650,000.

• The median days on market for December 2021 was 26 days, remaining the same from December 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

ISLAND OF HAWAII

Attached Homes

Luxury Inventory vs. Sales | December 2021 Inventory

Sales

Luxury Benchmark Price 1: $950,000 $4,500,000+ $4,000,000 - $4,499,999

2

1 1

0

$3,500,000 - $3,999,999 $3,100,000 - $3,499,999

Total Inventory: 29

0 0

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

4

0

4

1 0

3

$1,300,000 - $1,399,999 0

3 1

2

1 1

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

1

4

3

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

$950,000 - $999,999

Total Sales Ratio2: 69%

2 2

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

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

Seller's Market

3

1

$2,100,000 - $2,399,999

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

Total Sales: 20

2

1

$2,400,000 - $2,699,999

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

5

2

0 0

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

2

0%

1,000 - 1,499

$1,727,500

2

3

2

5

40%

1,500 - 1,999

$1,849,060

3

3

6

6

100%

2,000 - 2,499

$1,425,000

3

4

3

5

60%

2,500 - 2,999

$1,240,000

3

4

3

4

75%

3,000+

$3,020,000

4

4

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

Attached Homes

13-Month Luxury Market Trend4 Sale Price

Inventory

Solds

$2,222,500

$1,625,000

$1,500,000

$1,420,000

$1,427,500

$1,425,000

$1,625,000

$1,595,000 $1,400,000

$1,340,000

$1,300,000

$1,461,560 $1,180,000

64 41 25

Dec-20

26

24

Jan-21

22

Feb-21

22

28

Mar-21

26

31

Apr-21

29

24

17

May-21

28

17

Jun-21

35 23

Jul-21

34

32

16

18

Aug-21

Sep-21

32

29

Oct-21

29

17

20

Nov-21

Dec-21

Median Data Review | December Total Inventory Dec. 2020

Dec. 2021

64

Dec. 2020

Dec. 2021

29 VARIANCE: -55 %

20 VARIANCE: -20 %

Sale Price Per SqFt.

Sale to List Price Ratio

Dec. 2020

$

Total Solds

Dec. 2021

578

769 VARIANCE: 33 % $

25

Dec. 2020

Dec. 2021

98.08%

100.00% VARIANCE: 2 %

Sales Price Dec. 2020

$

1.50m

1.46m VARIANCE: -3 % $

Days on Market Dec. 2020

51

Dec. 2021

11 VARIANCE: -78 %

Island of Hawaii Market Summary | December 2021 • The Island of Hawaii attached luxury market is a Seller's Market with a 69% Sales Ratio.

• Homes sold for a median of 100.00% of list price in December 2021.

• The most active price band is $1,100,000-$1,199,999, where the sales ratio is 200%.

• The median luxury sales price for attached homes is $1,461,560.

• The median days on market for December 2021 was 11 days, down from 51 in December 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

Dec. 2021

KAUAI

|

OAHU

|

MAUI

|

HAWAII ISLAND

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