Corcoran Pacific Properties Luxury Market Report NOV 2021

Page 1

KAUAI

|

OAHU

|

MAUI

|

HAWAII ISLAND

Luxury Market Report Hawaii, November 2021


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 Demand vs Supply: Compromises and Changes expected this Winter As we approach the winter season, when the nights grow longer and days cooler for the majority of North America, sales in the luxury real estate market typically start to slow down. Sales in the last four months of 2020 certainly proved to an exception to the rule, as they not only broke records over previous years’ numbers, but actually increased month over month. Although, the last quarter of 2021 is not expected to provide such dramatic increases in sales as 2020, there is a new significant trend currently impacting the luxury market. Overall, the demand for luxury properties in North America is outpacing the supply of properties entering the market. This explains why inventory levels continue to decline in the luxury market. Taking a closer look at the data on pages 12-19 and its clear to see that most luxury markets favor sellers rather than buyers. This is further qualified by the significantly higher number of properties being sold in the majority of these markets, in comparison to the number of new listings entering the market. Across the 116 markets showcased in October 2021’s luxury market report, the number of sold properties was 37% higher than the number of new listings for that month. In this month’s report the difference is even higher at 55.5% more sales than new listings. To put that into context, in 2020 the number of properties entering the market in September was 9% higher than the number sold. October’s figures showed that the number of listings entering the market had fallen, they were still slightly higher by 1% than the number of sold.


This does not mean that there is no inventory; there are properties still available from months where inventory did exceed demand as well as new construction homes and developments. But it does indicate that buyers need to recognize that finding their new home will still be challenging and that waiting may not pay off if they are looking for prices to fall. The levels of demand and supply are certainly not equal across all luxury real estate markets, nor are they for specific price points, property types, location, and other variables that make up buyer’s deciding factors. This disparity of choice is the main reason why there is still inventory available. The bigger question for this quarter is whether inventory levels will continue to decline? Not just because we are approaching the typically quieter real estate months of winter, but because buyers, keen to purchase, seem more than ready to compromise and revisit the priority of their requirements. With the ski season fast approaching as well as snowbirds looking to escape their wintery landscapes, real estate professionals have started to see a shift in what their buyers are willing to accept in order to purchase a home in their desired destination. Coveted locations in these destinations are very obvious from ski-in/out properties to beach and lake side resorts or homes with private docks and water access. But the word is that, although these homes are currently limited in their availability, buyers have started to negotiate and if the seller remains unrealistic, they are willing to walk away. A turnkey property with modern features and amenities in the best location may be their goal, but as many of these new buyers are no longer looking for a vacation property but a co-primary residence, especially if they are able to work from home, they are willing to compromise. As many prices are currently at their highest levels, savvy buyers are reviewing both the future prospects of the destination as well as the resale value potential of the home.


To this end, the choice of buying an older property that needs renovations is becoming one of more popular compromises. The ability to own two primary residences allows them the time and space in which to complete the renovations and add value to their property. Not purchasing in the destination’s prime locations is another compromise, as these co-primary homeowners are typically looking for different features such as larger properties with more outdoor space. Being in heart of the busy downtown, positioned river or beachside or ski-in/out becomes less crucial when it’s no longer a vacation property but a true second primary home. On the flip side of the coin are the buyers who are looking to return to their cities, mostly due to work obligations. While there certainly has been a significant upswing in the number of sales within the downtown cores of metropolitan cities, there is also a trend by the affluent to hedge their bets. At the start of the pandemic, we saw numerous affluent homeowners escape the city for either destination locations or the exurbs. Working from home meant that location choices were not often based on commute times. For the most part those who are now choosing to move recognize that commuting is again an important factor and are looking for options that will allow them to work part-time in the city and the rest from home. While some have chosen to purchase a pied-à-terre in the city to stay at for a few nights a week, others are not ready to split their time between city living and family home. Real estate professionals are reporting a change in the desirability for ownership in suburban communities, especially those offering commute times under 1 hour, which are seeing increased demand.


Some of the affluent are selling their vacation properties, while they are in prime demand, and reinvesting in a home that is closer to the city and still provides the larger footprint, amenities, and outdoor space they have grown accustomed to. Others are keeping their city properties but buying in previously less desirable suburbs or properties that need renovations, with an eye on the investment opportunity of a property with an easy commute. Revitalization of communities, especially older neighborhoods in both primary and secondary markets, by developers looking to start in the spring of 2022 is predicted to be a great opportunity for investors this winter. The increasing number of new affluent entering the market has created a new record-high demand for new builds offering smart-home and high-tech features with luxury finishes. This demand is also in direct correlation to the increasing number of younger affluent buyers, many of whom are working in the technology sector and have relocated to markets that offer an array of employment options. In their move to more affordable hubs in locations such as Austin, Atlanta, Colorado Springs, Detroit, Phoenix, and Pittsburgh, tech companies have created large relocation problems, and demand for real estate is driving prices up as inventory levels continue to drop. Many of these technology experts who are moving from more expensive markets, like Silicon Valley, with an expectation of affording a higher quality home. Buyers who are not ready to compromise are more than willing to outbid their competitors. The art of selling and buying in this market needs a critical and analytical approach, understanding the realities and setting expectations accordingly will ensure that goals are achieved. For homeowners looking to buy or sell in today’s market, we recommend working with a realtor who can capitalize on the preferences, trends, and demands in this dynamic and evolving environment.


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.

40

Days on Market

31 30

34

35

36

33

37

34

31

31 18

20

21

11

10 10

15

10

13

15

14

11 15

16

15

13

11

0 OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

MAY

JUN

JUL

AUG

$420

$411

APR

$514

$540

$410

MAR

$427

$421

$486

$492

$521

$411

$508

$513 $403

$488 $394

$494 $394

$486 $378

$481

$489 $392

$300

$375

$400

$482

$500

$393

Price per Square Foot

$600

SEP

OCT

$200

$100

$0 OCT

NOV

DEC

JAN

FEB

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 OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

Discrepancies in previous month statistics between the October 2021 and November 2021 reports are due to the addition of Frederick County, MD, Howard County, MD, Staten Island, NY, and Cleveland Suburbs, OH.


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

Single-Family Homes October 2020

Median List Price

Median Sale Price Total Sales Ratio

$1,684,750

$1,812,500

97.96%

100.00%

$1,382,500

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

October 2021

33.06% $393

$1,390,000

56.62% $420

October 2020

October 2021

Total Inventory

40,891

28,575

Total Sold

13,520

16,180

3,752

3,347

New Listings

12,026

Median Days on Market Average Home Size

31

9,647 15

Median prices represent properties priced above respective city benchmark prices.

2,379

2,660

New Listings

Total Sold

16

23.56%

Med. Sale Price

Days on Market

Sales Ratio

7,500

$

Single-Family Homes Market Summary | October 2021 •

Official Market Type: Seller's Market with a 56.62% Sales Ratio.1

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

The median luxury threshold2 price is $1,000,000, and the median luxury home sales price is $1,390,000.

Markets with the Highest Median Sales Price: Vail ($4,229,592, Los Angeles Beach Cities ($3,995,000), Santa Barbara ($3,875,000), and Los Angeles City ($3,575,000).

Markets with the Highest Sales Ratio: Waterloo Region (415%), Oakville (256%), Greater Seattle (248%) and East Bay (243%). 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 October 2020 | October 2021

Attached Homes October 2020

Median List Price

Median Sale Price Total Sales Ratio

$899,950

$1,112,500

98.56%

100.00%

$875,000

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

October 2021

20.19% $482

$889,475 43.78% $514

October 2020

Total Inventory New Listings

October 2021

18,607

11,212

3,757

4,909

5,326

Total Sold

Median Days on Market Average Home Size

34

2,076

3,915 13

1,913

Median prices represent properties priced above respective city benchmark prices.

1,411 New Listings

1,152 Total Sold

Med. Sale Price

Days on Market

14,475

$

21

23.59% Sales Ratio

Attached Homes Market Summary | October 2021 •

Official Market Type: Seller's Market with a 43.78% 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 $889,475.

Markets with the Highest Median Sales Price: Vail ($3,200,000), San Francisco ($2,460,000), Park City ($2,300,000), and Greater Boston ($2,150,000).

Markets with the Highest Sales Ratio: Waterloo Region (3,400%), Summit County (500%), GTADurham (333%) and Howard County (309%). 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

$1,168,880

$996,000

435

158

142

34

Seller's

AZ

Paradise Valley

$4,995,000

$2,850,000

111

29

37

57

Seller's

AZ

Phoenix

$825,000

$775,000

377

194

339

30

Seller's

AZ

Scottsdale

$2,301,400

$1,575,100

297

95

185

33

Seller's

AZ

Tucson

$699,900

$637,000

461

184

234

8

Seller's

BC

Okanagan Valley

$1,991,500

$1,550,000

478

149

96

30

Balanced

BC

Vancouver

$4,500,000

$3,398,400

1,085

274

146

16

Buyer's

BC

Victoria

$2,678,950

$1,830,733

48

18

9

21

Balanced

CA

Central Coast

$3,322,500

$2,452,500

140

48

82

21

Seller's

CA

East Bay

$2,350,000

$1,912,500

220

138

534

8

Seller's

CA

Greater Palm Springs

$2,492,000

$1,619,000

136

54

109

23

Seller's

CA

Lake Tahoe

$2,600,000

$1,700,000

107

33

37

9

Seller's

CA

Los Angeles Beach Cities

$5,662,500

$3,995,000

300

81

111

24

Seller's

CA

Los Angeles City

$5,597,000

$3,575,000

618

180

183

24

Seller's

CA

Los Angeles The Valley

$2,982,498

$2,106,250

278

123

190

15

Seller's

CA

Marin County

$3,980,000

$3,000,000

65

11

72

13

Seller's

CA

Napa County

$3,995,000

$2,100,000

95

13

15

39

Balanced

CA

Orange County

$3,324,940

$2,250,000

520

199

435

10

Seller's

CA

Placer County

$1,195,000

$1,050,000

143

38

56

9

Seller's

CA

Sacramento

$949,900

$877,000

395

109

202

8

Seller's

CA

San Diego

$2,595,000

$1,822,500

521

220

450

10

Seller's

CA

San Francisco

$4,775,000

$3,300,635

111

29

111

10

Seller's

CA

San Luis Obispo County

$1,999,900

$1,400,000

111

27

63

N/A

Seller's

CA

Santa Barbara

$6,700,000

$3,875,000

91

41

60

10

Seller's

CA

Silicon Valley

$5,999,475

$3,401,000

230

105

387

8

Seller's

CA

Sonoma County

$2,400,000

$1,650,000

152

29

65

38

Seller's

CA

Ventura County

$2,832,500

$1,665,000

166

58

103

30

Seller's

CO

Boulder

$2,292,500

$1,585,000

130

45

101

41

Seller's

CO

Colorado Springs

$999,250

$891,000

192

78

111

9

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

Denver

$1,781,500

$1,380,000

250

84

252

6

Seller's

CO

Douglas County

$1,826,567

$1,239,975

115

44

112

5

Seller's

CO

Durango

$1,825,000

$1,221,759

67

9

22

89

Seller's

CO

Summit County

$2,635,000

$2,525,000

34

9

16

30

Seller's

CO

Vail

$5,947,500

$4,229,592

42

9

25

35

Seller's

CT

Central Connecticut

$674,900

$585,000

337

75

143

17

Seller's

CT

Coastal Connecticut

$2,292,000

$1,625,000

584

122

175

53

Seller's

DC

Washington D.C.

$4,195,000

$2,450,000

49

9

15

8

Seller's

DE

Sussex County Coastal

$1,399,990

$1,450,000

81

32

43

8

Seller's

FL

Boca Raton/Delray Beach

$3,395,000

$1,925,000

242

71

64

23

Seller's

FL

Coastal Pinellas County

$2,000,000

$2,195,000

55

18

13

7

Seller's

FL

Greater Fort Lauderdale

$1,800,000

$1,050,000

671

231

246

22

Seller's

FL

Jacksonville Beaches

$1,372,000

$1,250,000

144

37

67

29

Seller's

FL

Lee County

$1,499,000

$1,415,000

273

84

90

25

Seller's

FL

Marco Island

$2,850,000

$1,987,500

65

17

12

6

Balanced

FL

Miami

$2,300,000

$1,500,000

516

146

113

38

Seller's

FL

Naples

$4,262,500

$2,399,000

182

55

51

20

Seller's

FL

Orlando

$1,350,000

$1,218,000

345

89

154

22

Seller's

FL

Palm Beach Towns

$5,225,000

$2,060,000

120

35

30

47

Seller's

FL

Sarasota & Beaches

$2,695,000

$1,862,500

142

42

66

18

Seller's

FL

South Pinellas County

$1,599,000

$1,187,500

121

46

72

8

Seller's

FL

South Walton

$2,747,000

$1,760,000

164

57

54

21

Seller's

FL

Tampa

$944,840

$680,613

447

178

316

9

Seller's

FL

Weston

$1,350,000

$910,000

46

15

28

16

Seller's

GA

Atlanta

$1,560,000

$1,249,500

457

155

203

13

Seller's

HI

Island of Hawaii

$2,945,000

$2,225,000

64

19

24

15

Seller's

HI

Kauai

$2,919,000

$1,875,000

48

11

14

61

Seller's

HI

Maui

$3,447,500

$2,198,000

104

19

49

74

Seller's

HI

Oahu

$3,180,000

$2,505,000

159

38

66

14

Seller's

State

Market Name

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

Northern

$1,199,000

$827,500

285

83

202

67

Seller's

IL

Chicago

$1,499,500

$1,200,000

622

169

265

28

Seller's

IL

DuPage County

$1,150,000

$981,500

303

78

116

39

Seller's

IL

Lake County

$1,150,000

$977,500

264

64

96

33

Seller's

IL

Will County

$774,650

$582,837

162

32

102

21

Seller's

IN

Hamilton County

$975,000

$762,392

59

17

110

4

Seller's

KS

Johnson County

$848,200

$818,000

209

48

118

4

Seller's

MA

Greater Boston

$3,498,000

$2,250,000

93

32

25

38

Seller's

MD

Anne Arundel County

$1,100,000

$927,500

142

41

102

10

Seller's

MD

Frederick County

$925,000

$875,000

45

13

26

6

Seller's

MD

Howard County

$1,129,990

$1,049,613

90

17

52

7

Seller's

MD

Montgomery County

$1,890,000

$1,600,000

134

48

109

6

Seller's

MD

Talbot County

$2,895,000

$1,566,000

37

3

18

29

Seller's

MD

Worcester County

$1,199,999

$832,500

41

6

13

7

Seller's

MI

Livingston County

$749,950

$750,000

70

22

29

16

Seller's

MI

Monroe County

$649,000

$585,000

15

6

5

72

Seller's

MI

Oakland County

$825,000

$641,125

593

198

300

16

Seller's

MI

Washtenaw County

$949,900

$705,000

125

34

37

25

Seller's

MI

Wayne County

$705,995

$635,000

161

58

96

14

Seller's

MO

Kansas City

$693,420

$654,950

576

132

351

7

Seller's

MO

St. Louis

$799,900

$682,500

103

34

74

15

Seller's

NC

Charlotte

$1,100,000

$916,500

298

94

256

5

Seller's

NC

Raleigh-Durham

$1,195,000

$950,000

198

73

180

2

Seller's

NJ

Ocean County

$899,000

$820,000

303

105

171

17

Seller's

NV

Lake Tahoe

$3,995,000

$3,175,000

88

23

13

78

Buyer's

NV

Las Vegas

$800,000

$707,216

1,147

449

584

18

Seller's

NV

Reno

$1,950,000

$1,600,000

79

18

31

60

Seller's

NY

Brooklyn

$1,798,000

$1,490,000

260

45

31

90

Buyer's

NY

Nassau County

$1,950,000

$1,692,500

742

146

142

35

Balanced

State

Market Name

ID

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

Staten Island

$1,378,000

$1,100,000

103

31

23

47

Seller's

NY

Suffolk County

$1,749,000

$1,300,000

826

208

170

40

Balanced

OH

Cincinnati

$875,000

$785,000

206

25

47

11

Seller's

OH

Cleveland Suburbs

$812,132

$640,000

32

8

25

38

Seller's

ON

GTA - Durham

$1,599,000

$1,315,000

135

157

287

6

Seller's

ON

GTA - York

$2,805,990

$1,950,000

315

290

349

9

Seller's

ON

Oakville

$4,749,889

$2,290,500

36

44

92

6

Seller's

ON

Toronto

$3,980,000

$3,225,000

293

221

187

10

Seller's

ON

Waterloo Region

$1,690,000

$1,280,000

33

57

137

7

Seller's

OR

Portland

$1,462,500

$1,093,000

366

107

238

8

Seller's

SC

Charleston

$2,175,000

$1,600,000

203

91

116

16

Seller's

TN

Nashville

$2,100,000

$1,299,950

216

68

224

3

Seller's

TX

Austin

$1,050,000

$900,000

434

202

311

7

Seller's

TX

Collin County

$749,990

$680,190

335

159

423

7

Seller's

TX

Dallas

$1,412,500

$1,018,500

230

87

143

7

Seller's

TX

Denton County

$772,526

$701,000

238

114

283

8

Seller's

TX

Fort Worth

$907,450

$781,000

352

144

263

8

Seller's

TX

Houston

$981,000

$890,000

1,230

380

319

29

Seller's

TX

San Antonio

$849,500

$699,900

309

92

127

28

Seller's

TX

The Woodlands & Spring

$914,950

$728,000

156

64

133

14

Seller's

UT

Park City

$4,500,000

$3,024,691

77

15

39

8

Seller's

UT

Salt Lake City

$1,299,500

$1,000,500

167

62

160

11

Seller's

VA

Arlington & Alexandria

$2,199,000

$1,812,500

71

22

32

11

Seller's

VA

Charlottesville

$1,250,000

$1,035,000

125

13

31

10

Seller's

VA

Fairfax County

$2,250,000

$1,571,000

257

89

154

9

Seller's

VA

McLean & Vienna

$2,999,900

$1,870,000

119

33

59

13

Seller's

VA

Richmond

$824,330

$780,000

154

46

118

8

Seller's

WA

Greater Seattle

$2,000,000

$1,700,000

267

151

663

5

Seller's

WA

Seattle

$2,195,000

$1,678,000

109

63

173

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

$751,695

$737,000

137

34

26

49

Balanced

AZ

Paradise Valley

-

-

-

-

-

-

-

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$1,037,500

$774,000

78

30

62

33

Seller's

AZ

Tucson

-

-

-

-

-

-

-

BC

Okanagan Valley

-

-

-

-

-

-

-

BC

Vancouver

$1,999,900

$1,750,000

752

299

135

18

Balanced

BC

Victoria

$1,172,950

$961,433

82

49

15

15

Balanced

CA

Central Coast

$1,172,000

$1,023,500

10

9

23

10

Seller's

CA

East Bay

$1,072,495

$1,050,000

82

51

172

10

Seller's

CA

Greater Palm Springs

-

-

-

-

-

-

-

CA

Lake Tahoe

$1,625,000

$1,243,500

19

9

10

18

Seller's

CA

Los Angeles Beach Cities

$1,899,000

$1,600,000

132

41

85

14

Seller's

CA

Los Angeles City

$1,850,000

$1,374,500

342

116

98

24

Seller's

CA

Los Angeles The Valley

$811,250

$790,000

70

48

80

14

Seller's

CA

Marin County

$1,075,000

$1,150,000

11

4

20

10

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$1,200,000

$1,069,000

97

59

228

7

Seller's

CA

Placer County

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,395,000

$1,075,000

193

108

192

10

Seller's

CA

San Francisco

$2,795,000

$2,460,000

129

26

49

11

Seller's

CA

San Luis Obispo County

-

-

-

-

-

-

-

CA

Santa Barbara

$2,445,000

$1,650,000

10

6

17

12

Seller's

CA

Silicon Valley

$1,660,000

$1,620,000

53

29

117

9

Seller's

CA

Sonoma County

$739,917

$707,000

9

1

4

81

Seller's

CA

Ventura County

$850,000

$710,000

37

26

40

25

Seller's

CO

Boulder

$1,240,000

$822,748

47

18

39

41

Seller's

CO

Colorado Springs

-

-

-

-

-

-

-

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

$1,000,000

$925,000

136

34

69

9

Seller's

Douglas County

$652,500

$549,500

4

3

8

6

Seller's

CO

Durango

$737,475

$664,950

8

4

10

46

Seller's

CO

Summit County

$2,274,000

$1,327,000

2

1

10

6

Seller's

CO

Vail

$4,900,000

$3,200,000

55

9

21

15

Seller's

CT

Central Connecticut

-

-

-

-

-

-

-

CT

Coastal Connecticut

$1,200,000

$662,500

145

21

44

36

Seller's

DC

Washington D.C.

$1,895,000

$1,530,000

216

84

93

8

Seller's

DE

Sussex County Coastal

$1,089,950

$850,000

12

4

10

14

Seller's

FL

Boca Raton/Delray Beach

$1,550,000

$700,000

163

43

53

22

Seller's

FL

Coastal Pinellas County

$1,485,000

$1,137,500

55

20

28

7

Seller's

FL

Greater Fort Lauderdale

$940,000

$795,000

685

159

120

30

Balanced

FL

Jacksonville Beaches

$1,295,000

$1,000,000

20

8

8

7

Seller's

FL

Lee County

$1,042,499

$676,250

88

27

58

7

Seller's

FL

Marco Island

$2,000,000

$1,800,000

9

5

5

44

Seller's

FL

Miami

$1,450,000

$1,187,827

1,294

239

158

84

Buyer's

FL

Naples

$2,345,000

$1,450,000

91

33

49

7

Seller's

FL

Orlando

$875,000

$575,000

67

19

22

7

Seller's

FL

Palm Beach Towns

$1,800,000

$1,665,000

122

38

26

39

Seller's

FL

Sarasota & Beaches

$1,646,000

$1,500,000

76

29

25

7

Seller's

FL

South Pinellas County

$1,291,250

$895,000

74

31

39

7

Seller's

FL

South Walton

$1,306,400

$1,237,500

169

36

28

15

Balanced

FL

Tampa

$810,000

$649,500

69

22

42

7

Seller's

FL

Weston

-

-

-

-

-

-

-

GA

Atlanta

$725,000

$604,000

397

123

151

22

Seller's

HI

Island of Hawaii

$1,965,000

$1,300,000

32

8

29

4

Seller's

HI

Kauai

$1,872,500

$1,350,000

40

9

15

9

Seller's

HI

Maui

$2,585,000

$2,000,000

31

14

31

73

Seller's

HI

Oahu

$1,299,000

$947,000

355

118

116

12

Seller's

State

Market Name

CO

Denver

CO

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

Northern

-

-

-

-

-

-

-

IL

Chicago

$1,150,000

$1,000,866

748

212

179

44

Seller's

IL

DuPage County

$746,700

$750,000

30

11

13

18

Seller's

IL

Lake County

-

-

-

-

-

-

-

IL

Will County

-

-

-

-

-

-

-

IN

Hamilton County

-

-

-

-

-

-

-

KS

Johnson County

$599,950

$626,442

55

15

24

4

Seller's

MA

Greater Boston

$2,599,000

$2,150,000

281

75

77

24

Seller's

MD

Anne Arundel County

$557,990

$547,500

35

14

46

5

Seller's

MD

Frederick County

-

-

-

-

-

-

-

MD

Howard County

$659,990

$581,250

11

9

34

6

Seller's

MD

Montgomery County

$771,500

$726,450

110

52

94

8

Seller's

MD

Talbot County

-

-

-

-

-

-

-

MD

Worcester County

$749,450

$637,500

70

22

39

9

Seller's

MI

Livingston County

-

-

-

-

-

-

-

MI

Monroe County

-

-

-

-

-

-

-

MI

Oakland County

$859,500

$699,000

51

15

23

14

Seller's

MI

Washtenaw County

$650,000

$562,995

34

6

9

48

Seller's

MI

Wayne County

$629,900

$541,900

71

18

10

45

Buyer's

MO

Kansas City

-

-

-

-

-

-

-

MO

St. Louis

-

-

-

-

-

-

-

NC

Charlotte

$750,000

$585,000

135

36

63

6

Seller's

NC

Raleigh-Durham

-

-

-

-

-

-

-

NJ

Ocean County

$875,000

$675,000

15

5

5

34

Seller's

NV

Lake Tahoe

$2,198,000

$1,085,000

9

2

11

64

Seller's

NV

Las Vegas

-

-

-

-

-

-

-

NV

Reno

-

-

-

-

-

-

-

NY

Brooklyn

$1,450,000

$1,295,000

502

119

81

45

Balanced

NY

Nassau County

$1,650,000

$1,155,000

85

19

21

50

Seller's

State

Market Name

ID

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

Staten Island

$623,944

$620,000

48

13

26

32

Seller's

NY

Suffolk County

$699,900

$645,000

103

27

48

27

Seller's

OH

Cincinnati

$756,280

$600,000

29

4

4

52

Buyer's

OH

Cleveland Suburbs

-

-

-

-

-

-

-

ON

GTA - Durham

$799,945

$773,750

12

16

40

6

Seller's

ON

GTA - York

$769,000

$764,000

86

106

133

10

Seller's

ON

Oakville

$2,169,500

$1,200,000

18

37

45

5

Seller's

ON

Toronto

$1,295,000

$1,156,000

609

448

345

11

Seller's

ON

Waterloo Region

$1,474,949

$800,500

2

15

68

6

Seller's

OR

Portland

$749,000

$620,000

169

69

89

16

Seller's

SC

Charleston

$926,000

$889,475

86

18

30

19

Seller's

TN

Nashville

$827,000

$654,500

72

26

57

4

Seller's

TX

Austin

$829,000

$795,000

113

60

93

13

Seller's

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$964,314

$665,000

140

54

44

34

Seller's

TX

Denton County

-

-

-

-

-

-

-

TX

Fort Worth

-

-

-

-

-

-

-

TX

Houston

$649,000

$570,000

151

54

30

32

Balanced

TX

San Antonio

$709,950

$624,250

34

7

4

24

Buyer's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$2,564,500

$2,300,000

18

7

33

25

Seller's

UT

Salt Lake City

$598,900

$571,800

57

20

53

12

Seller's

VA

Arlington & Alexandria

$1,112,500

$1,017,461

88

42

64

6

Seller's

VA

Charlottesville

$934,950

$552,945

18

2

7

0

Seller's

VA

Fairfax County

$750,000

$690,000

147

57

139

9

Seller's

VA

McLean & Vienna

$1,144,000

$904,500

32

8

18

8

Seller's

VA

Richmond

-

-

-

-

-

-

-

WA

Greater Seattle

$1,397,000

$997,500

140

56

101

6

Seller's

WA

Seattle

$1,655,000

$1,200,000

93

35

29

6

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 October 2021. This month’s North American report raised the dilemma and repercussions of the declining level of inventory in the luxury real estate market across the US and Canada. It recognized that demand is chronically outpacing new inventory entering the market and addressed the impacts and compromises for the luxury buyer. In light of these findings, this month we are taking an in-depth look at Hawaii’s inventory levels to ascertain if this trend is also impacting our luxury market. Overall, the level of inventory has declined since last September for single family homes from an average of 650 per month in 2020 down to 375 as of October 2021. In the attached market the numbers have dropped from the mid 750s down to 458 in October 2021. Unlike the single-family market, there has been a slight upward inventory level trajectory for attached properties over the last two months. Last month we reported that the speed had come off the pace of sales. Single family property sales have remained at an average of 150 per month, and although inventory levels have continued to fall gradually, October still registered 153 sales. In the attached market inventory levels rose again and sales increased from 174 in September to 191 in October - providing the conjecture that these two factors are probably intrinsically tied at this current time A review of the number of new listings for each of the islands shows, while there are inventory level percentage differences year over year, that they are all registering declining levels. Oahu has been the least affected by lack of inventory, showing an average decline of 30% for single family and 25% for attached properties in 2021 compared to 2020. Maui shows a slightly higher difference year-over-year for single family homes with an average decrease of 40% in 2021, but a significant difference for attached property levels with an average drop of 60% in 2021 compared to 2020. Kauai inventory levels have gradually dropped month over month for both single family and attached properties, changing from as little as an 8% difference in March to a 56% difference in October 2021. In contrast, Hawaii Island inventory levels for single family homes have consistently been around 55% less, and attached properties upwards of 60% less, than their corresponding months in 2020 since March 2021. As always, a real estate expert familiar with local trends is the best resource to navigate a specific market.


November

2021

Kauai Hawaii


KAUAI

Single-Family Homes

Luxury Inventory vs. Sales | October 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 $3,900,000 - $4,399,999

3

0

0

Seller's Market

1

1 1 4

0

6

2 3

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

5

8

2 2

0 0 0

2

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

1

29%

2

1

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

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

Total Sales Ratio2:

5

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

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

48

Total Sales: 14

0

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

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

Total Inventory:

0 0

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

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

11

0

3

0 0

Beds3

Price

DOM

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0-1 Bedrooms

NA

NA

NA

0

2

0%

2 Bedrooms

NA

NA

NA

0

4

0%

3 Bedrooms

$1,900,000

62

4

6

16

38%

4 Bedrooms

$1,850,000

8

3

7

14

50%

5 Bedrooms

$1,900,000

341

5

1

6

17%

6+ Bedrooms

NA

NA

NA

0

6

0%

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


KAUAI

Single-Family Homes

13-Month Luxury Market Trend4 Median Sales Price

$2,187,500

$2,022,500

Inventory

Solds

$2,375,000

$2,212,500

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

$1,839,500

$2,030,000

$1,935,000

$1,862,500

$1,515,000 110

107

18 Oct-20

101

91

15

14

Nov-20

Dec-20

89

84

20 Jan-21

14 Feb-21

85

22

73

Mar-21

56

Apr-21

May-21

57

55 30

24

18

$1,875,000

$1,683,250

Jun-21

20

48

Jul-21

48

24

16 Aug-21

14

Sep-21

Oct-21

Median Data Review | October Total Inventory Oct. 2020

Total Solds

Oct. 2021

110

Oct. 2021

48 VARIANCE: -56 %

14 VARIANCE: -22 %

Sale Price Per SqFt.

Sale to List Price Ratio

Oct. 2020

$

Oct. 2020

18

Oct. 2021

768

886 VARIANCE: 15 % $

Oct. 2020

Oct. 2021

Sales Price Oct. 2020

$

2.02m

1.88m VARIANCE: -7 % $

Days on Market Oct. 2020

94.28%

94.28% VARIANCE: 0 %

52

Oct. 2021

61 VARIANCE: 17 %

Kauai Market Summary | October 2021 • The Kauai single-family luxury market is a Seller's Market with a 29% Sales Ratio. • Homes sold for a median of 94.28% of list price in October 2021.

• The most active price band is $1,800,000-$2,199,999, where the sales ratio is 167%. • The median luxury sales price for single-family homes is $1,875,000.

• The median days on market for October 2021 was 61 days, up from 52 in October 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

Oct. 2021


KAUAI

Attached Homes

KAUAI

Luxury Inventory vs. Sales | October 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

$3,600,000 - $3,999,999 $3,200,000 - $3,599,999 $2,800,000 - $3,199,999

4

1

0 0

Total Inventory:

0

Seller's Market

1

1

2

2

0

4

1

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

11

1

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

2

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

2

$1,000,000 - $1,099,999 $950,000 - $999,999

1

4

2

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

0

0

38%

2

0

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

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

Total Sales Ratio2:

3

0

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

Total Sales: 15

3

0

40

3 4

1 1

Beds3

Price

DOM

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0-1 Bedrooms

NA

NA

NA

0

0

NA

2 Bedrooms

$1,190,000

9

2

7

18

39%

3 Bedrooms

$2,100,000

2

3

7

13

54%

4 Bedrooms

NA

NA

NA

0

7

0%

5 Bedrooms

$2,590,000

172

5

1

2

50%

6+ Bedrooms

NA

NA

NA

0

0

NA

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


KAUAI

Attached Homes

13-Month Luxury Market Trend4 Sale Price

Inventory

Solds

$1,565,000 $1,400,000

$1,299,000

$1,080,000

70

69

67

59

4

7

6

Oct-20

Nov-20

Dec-20

$1,395,000

$1,150,000

55

11 Jan-21

$1,199,000

$1,189,125

55

44

$1,282,500

39

13

14

13

Feb-21

Mar-21

Apr-21

25

May-21

35 20

$1,495,000

$1,375,000

28

Jun-21

$1,350,000

$1,255,000

41

28

20

Jul-21

40

13

15

Aug-21

Sep-21

15

Oct-21

Median Data Review | October Total Inventory Oct. 2020

Total Solds

Oct. 2021

Oct. 2021

70

40 VARIANCE: -43 %

4

15 VARIANCE: 275 %

Sale Price Per SqFt.

Sale to List Price Ratio

Oct. 2020

Oct. 2021

1,040

$

$

Oct. 2020

1,305 VARIANCE: 25 %

Oct. 2020

Oct. 2021

Sales Price Oct. 2020

$

1.40m

1.35m VARIANCE: -4 % $

Days on Market Oct. 2020

88.40%

100.00% VARIANCE: 13 %

48

Oct. 2021

9 VARIANCE: -81 %

Kauai Market Summary | October 2021 • The Kauai attached luxury market is a Seller's Market with a 38% Sales Ratio. • Homes sold for a median of 100.00% of list price in October 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 $1,350,000.

• The median days on market for October 2021 was 9 days, down from 48 in October 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

Oct. 2021


November

2021

Oahu Hawaii


OAHU

Single-Family Homes

Luxury Inventory vs. Sales | October 2021 Inventory

Sales

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

24

0

1 1

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

8

0

5

3

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

13

6 10

1

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

17

8

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

22

15 6 6

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

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

14

11 6 6

$1,800,000 - $1,899,999 $1,750,000 - $1,799,999

1

Total Sales Ratio2: 42%

14

2

$4,100,000 - $4,699,999

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

Seller's Market

5

2

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

159

Total Sales: 66

3

1

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

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

Total Inventory:

11

4

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,950,000

4

3

21

40

53%

3,000 - 3,999

$2,600,000

4

4

21

28

75%

4,000 - 4,999

$2,600,000

4

4

13

28

46%

5,000 - 5,999

$3,999,044

5

6

4

18

22%

6,000 - 6,999

$5,444,000

7

7

2

13

15%

7,000+

$6,400,000

5

6

5

31

16%

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

$2,034,000

232

$2,253,750

$2,200,000

224

32 Oct-20

208

174

50

28 Nov-20

$2,365,000

172

29

Dec-20

$2,650,000 $2,250,000

Jan-21

Inventory

$2,430,000

170 49

Feb-21

Mar-21

$2,270,000

169

168

40

$2,527,500

Solds

Apr-21

May-21

$2,340,000

178

150 67

60

49

$2,552,500

Jun-21

174 56

Jul-21

$2,505,000

$2,425,000

174

159

66

59

Aug-21

Sep-21

66

Oct-21

Median Data Review | October Total Inventory Oct. 2020

Total Solds

Oct. 2021

232

Oct. 2021

159 VARIANCE: -31 %

66 VARIANCE: 106 %

Sale Price Per SqFt.

Sale to List Price Ratio

Oct. 2020

$

Oct. 2020

32

Oct. 2021

644

756 VARIANCE: 17 % $

Oct. 2020

Oct. 2021

Sales Price Oct. 2020

$

2.03m

Oct. 2021

2.51m VARIANCE: 23 % $

Days on Market Oct. 2020

97.07%

100.00% VARIANCE: 3 %

Oct. 2021

36

14 VARIANCE: -61 %

Oahu Market Summary | October 2021 • The Oahu single-family luxury market is a Seller's Market with a 42% Sales Ratio. • Homes sold for a median of 100.00% of list price in October 2021.

• The most active price bands are $1,800,000-$1,899,999 and $2,100,000-$2,299,999, where the sales ratio is 100%.

• The median luxury sales price for single-family homes is $2,505,000.

• The median days on market for October 2021 was 14 days, down from 36 in October 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


OAHU

Attached Homes

Luxury Inventory vs. Sales | October 2021 Inventory

Sales

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

$4,400,000 - $5,199,999 $3,800,000 - $4,399,999

9

0

7

0

0

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

$1,800,000 - $2,199,999 $1,500,000 - $1,799,999

Seller's Market

15

0

Total Sales Ratio2: 33%

15

2 7

3

11

2

27

3

32

3 27

4

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

41

16

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

42

16

$900,000 - $999,999

33

18

$800,000 - $899,999

47

21

$750,000 - $799,999

1

355

Total Sales: 116

2

$3,200,000 - $3,799,999 $2,600,000 - $3,199,999

Total Inventory:

40

28

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 999

$850,000

2

2

19

121

16%

1,000 - 1,499

$1,030,000

2

2

58

101

57%

1,500 - 1,999

$881,500

3

2

32

52

62%

2,000 - 2,499

$1,605,000

3

2

7

35

20%

2,500 - 2,999

NA

NA

NA

0

19

0%

3,000+

NA

NA

NA

0

27

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.


OAHU

Attached Homes

13-Month Luxury Market Trend4 Median Sales Price

$860,000

465

$918,888

$890,000

453

44 Oct-20

394

41

55

Nov-20

Dec-20

$875,000

$903,500

345

360

44 Jan-21

$970,000

338

Inventory

$981,500

$949,000

324

76

87

Feb-21

Mar-21

301

Solds

$960,000

121

Apr-21

May-21

Jun-21

Jul-21

355

329 146

125

$947,000

$910,000

283

278

273 88

83

$955,000

$875,000

116

101

Aug-21

Sep-21

Oct-21

Median Data Review | October Total Inventory Oct. 2020

Total Solds

Oct. 2021

465

Oct. 2021

355 VARIANCE: -24 %

116 VARIANCE: 164 %

Sale Price Per SqFt.

Sale to List Price Ratio

Oct. 2020

$

Oct. 2020

44

Oct. 2021

703

828 VARIANCE: 18 % $

Oct. 2020

Oct. 2021

Sales Price Oct. 2020

860k

$

947k VARIANCE: 10 % $

Days on Market Oct. 2020

99.31%

100.00% VARIANCE: 1 %

34

Oct. 2021

12 VARIANCE: -65 %

Oahu Market Summary | October 2021 • The Oahu attached luxury market is a Seller's Market with a 33% Sales Ratio. • Homes sold for a median of 100.00% of list price in October 2021.

• The most active price band is $750,000-$799,999, where the sales ratio is 70%. • The median luxury sales price for attached homes is $947,000.

• The median days on market for October 2021 was 12 days, down from 34 in October 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

Oct. 2021


November

2021

Maui Hawaii


MAUI

Single-Family Homes

Luxury Inventory vs. Sales | October 2021 Inventory

Sales

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

$3,400,000 - $3,899,999 $2,900,000 - $3,399,999

9

1

10

0

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

4

0

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

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

7

0

9

1

10

0

3

1

9

1

$2,400,000 - $2,899,999 $2,200,000 - $2,399,999

6

1

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

2

3

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

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

12

5 1

Total Inventory:

2

1

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

1

11

6

3

5

Total Sales: 49

5

Seller's Market

104

Total Sales Ratio2:

47%

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,999

$1,975,000

3

2

9

31

29%

2,000 - 2,999

$2,077,500

3

3

12

21

57%

3,000 - 3,999

$8,100,000

4

4

1

23

4%

4,000 - 4,999

$3,482,500

5

6

1

14

7%

5,000 - 5,999

$5,600,000

3

5

1

6

17%

6,000+

NA

NA

NA

0

9

0%

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


MAUI

Single-Family Homes

13-Month Luxury Market Trend4 Median Sales Price

Inventory

Solds

$3,550,000

$2,775,000 $2,100,000

18 Oct-20

$2,412,500

$2,262,500 179

170

$2,600,000

155

129

26

26

Nov-20

Dec-20

125

24 Jan-21

$2,495,000

116

116

$2,680,000

$2,874,500

$2,575,000

$2,332,500

$2,198,000

118

103

29

35

43

34

Feb-21

Mar-21

Apr-21

May-21

$2,775,000

112 39

Jun-21

103 40

Jul-21

104

102

30

32

Aug-21

Sep-21

49

Oct-21

Median Data Review | October Total Inventory Oct. 2020

Total Solds

Oct. 2021

170

Oct. 2021

104 VARIANCE: -39 %

49 VARIANCE: 172 %

Sale Price Per SqFt.

Sale to List Price Ratio

Oct. 2020

$

Oct. 2020

678

18

Oct. 2021

1,117 VARIANCE: 65 % $

Oct. 2020

Oct. 2021

Sales Price Oct. 2020

$

2.10m

2.20m VARIANCE: 5 % $

Days on Market Oct. 2020

97.31%

100.00% VARIANCE: 3 %

107

Oct. 2021

74 VARIANCE: -31 %

Maui Market Summary | October 2021 • The Maui single-family luxury market is a Seller's Market with a 47% Sales Ratio. • Homes sold for a median of 100.00% of list price in October 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 $2,198,000.

• The median days on market for October 2021 was 74 days, down from 107 in October 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

Oct. 2021


MAUI

Attached Homes

Luxury Inventory vs. Sales | October 2021 Inventory

Sales

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

1 0

3

Total Sales: 31

3

Seller's Market

1

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

1

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

1

31

Total Sales Ratio2:

3

100%

3

3 2

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

4

2

1

0

2 2

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

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

1

Total Inventory:

0

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

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

4

2

$2,400,000 - $2,599,999 $2,200,000 - $2,399,999

5

2

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

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

6

2

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

1

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

1

2 3

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 999

$1,322,574

1

2

4

7

57%

1,000 - 1,499

$1,275,000

2

3

2

9

22%

1,500 - 1,999

$2,098,000

3

3

17

3

567%

2,000 - 2,499

$4,000,000

3

4

5

4

125%

2,500 - 2,999

$4,925,000

3

4

2

8

25%

3,000+

$3,500,000

4

4

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.


MAUI

Attached Homes

13-Month Luxury Market Trend4 Sale Price

$2,370,000

Inventory

Solds

$2,275,000 $2,025,000 $1,800,000

$1,700,000

166

$1,648,000

$2,000,000

$1,927,000

104 69

Oct-20

$1,769,000

164 109

20

$1,746,250

$1,500,000

$1,500,000 161

$1,700,000

37

19 Nov-20

15

Dec-20

Jan-21

62

58

25 Feb-21

Mar-21

52

48

Apr-21

50

May-21

38

42

37

Jun-21

47

25

Jul-21

36

27

Aug-21

40

31

Sep-21

31

Oct-21

Median Data Review | October Total Inventory Oct. 2020

Total Solds

Oct. 2021

161

31 VARIANCE: -81 %

Oct. 2021

20

31 VARIANCE: 55 %

Sale Price Per SqFt.

Oct. 2020

$

2.37m

Sale to List Price Ratio

Oct. 2020

Oct. 2021

1,367

$

$

Oct. 2020

Sales Price

1,340 VARIANCE: -2 %

Oct. 2020

Oct. 2021

Oct. 2021

2.00m VARIANCE: -16 % $

Days on Market Oct. 2020

95.37%

100.00% VARIANCE: 5 %

Oct. 2021

175

73 VARIANCE: -58 %

Maui Market Summary | October 2021 • The Maui attached luxury market is a Seller's Market with a 100% Sales Ratio. • Homes sold for a median of 100.00% of list price in October 2021.

• The most active price bands are $1,200,000-$1,299,999, $1,900,000-$1,999,999 and $2,000,000$2,199,999, where the sales ratio is 300%.

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

• The median days on market for October 2021 was 73 days, down from 175 in October 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


November

2021

Island of Hawaii


ISLAND OF HAWAII

Single-Family Homes

Luxury Inventory vs. Sales | October 2021 Inventory

Sales

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

0 0

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

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

Total Inventory:

5

7

1

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

5

2 0

4

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

5

2

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

3

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

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

4 14

4 1 1 3

1

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

1

38%

Total Sales Ratio2:

2

0

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

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

Seller's Market

4

1 0

64

Total Sales: 24

2

1

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

8

2

2

4

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,562,500

4

4

6

23

26%

3,000 - 3,999

$2,435,000

4

5

4

8

50%

4,000 - 4,999

$2,500,000

4

5

2

5

40%

5,000 - 5,999

$10,750,000

4

5

1

5

20%

6,000 - 6,999

NA

NA

NA

0

0

NA

7,000+

$30,200,000

6

9

1

1

100%

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

$1,788,500 $1,595,000

$1,499,500 141

130

20 Oct-20

120

107

28

28

Nov-20

Dec-20

$2,225,000

$2,001,500 $1,632,500

93 31

Jan-21

$1,990,000 $1,800,000

$1,760,000

77 36

43

Feb-21

Mar-21

67

72

42

40

Apr-21

May-21

63

$1,775,000

$1,630,000

57 27

Jun-21

53 24

Jul-21

64

60 27

28

Aug-21

Sep-21

24 Oct-21

Median Data Review | October Total Inventory Oct. 2020

Oct. 2021

141

64 VARIANCE: -55 % Sale Price Per SqFt.

Oct. 2020

$

Oct. 2021

661

729 VARIANCE: 10 % $

Total Solds Oct. 2020

Sales Price

Oct. 2021

20

24 VARIANCE: 20 %

Oct. 2020

$

Sale to List Price Ratio Oct. 2020

Oct. 2021

96.63%

99.37% VARIANCE: 3 %

1.50m

2.23m VARIANCE: 48 % $

Days on Market Oct. 2020

62

Oct. 2021

15 VARIANCE: -76 %

Island of Hawaii Market Summary | October 2021 • The Island of Hawaii single-family luxury market is a Seller's Market with a 38% Sales Ratio.

• Homes sold for a median of 99.37% of list price in October 2021.

• The most active price band is $1,300,000-$1,399,999, where the sales ratio is 100%. • The median luxury sales price for single-family homes is $2,225,000.

• The median days on market for October 2021 was 15 days, down from 62 in October 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

Oct. 2021


ISLAND OF HAWAII

Attached Homes

Luxury Inventory vs. Sales | October 2021 Inventory

Sales

Luxury Benchmark Price 1: $950,000 2 2

$4,500,000+ 1 1

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

6

0 1 1

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

1

$2,700,000 - $3,099,999 $2,400,000 - $2,699,999 $2,100,000 - $2,399,999

Total Inventory: 32

0 0

Total Sales: 29

2

Seller's Market

2

Total Sales Ratio2: 91%

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

3

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

3

0

4

2 2

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

2

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

3

1

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

3

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

3

2 1

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

4 2

$950,000 - $999,999

1

2

5

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

1

0%

1,000 - 1,499

$1,166,000

2

2

4

9

44%

1,500 - 1,999

$1,095,000

3

3

7

6

117%

2,000 - 2,499

$1,937,500

4

3

8

5

160%

2,500 - 2,999

$2,800,000

3

4

3

4

75%

3,000+

$8,995,000

4

4

1

3

33%

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 $2,222,500 $1,750,000

76

$1,500,000

65

$1,420,000

$1,427,500

Oct-20

$1,625,000

$1,400,000

$1,595,000

$1,340,000

$1,625,000 $1,300,000

64 41

19

$1,425,000

25

13 Nov-20

Dec-20

24

Jan-21

26

22

Feb-21

22

28

26

Mar-21

31

29

Apr-21

17

May-21

24

17

28

Jun-21

35

23

Jul-21

34 16

18

Aug-21

Sep-21

32

29

Oct-21

Median Data Review | October Total Inventory Oct. 2020

Oct. 2021

76

32 VARIANCE: -58 % Sale Price Per SqFt. Oct. 2020

$

Oct. 2021

1,357

762 VARIANCE: -44 % $

Total Solds Oct. 2020

Oct. 2021

19

29 VARIANCE: 53 %

Sale to List Price Ratio Oct. 2020

Oct. 2021

100.00% 100.00% VARIANCE: 0 %

Sales Price Oct. 2020

$

2.98m

1.30m VARIANCE: -56 % $

Days on Market Oct. 2020

11

Oct. 2021

4 VARIANCE: -64 %

Island of Hawaii Market Summary | October 2021 • The Island of Hawaii attached luxury market is a Seller's Market with a 91% Sales Ratio. • Homes sold for a median of 100.00% of list price in October 2021.

• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 400%. • The median luxury sales price for attached homes is $1,300,000.

• The median days on market for October 2021 was 4 days, down from 11 in October 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

Oct. 2021


KAUAI

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OAHU

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MAUI

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HAWAII ISLAND

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