Renee Kraft Luxury Market Report NOV 2021

RENÉE H. KRAFT

LUXURY MARKET REPORT

ISLAND OF HAWAI’I | NOVEMBER 2021

RENÉE H. KRAFT

Broker, CLHMS, LUXBHGRE, BA, GRI, RSPS, SRS, ABR HAWAII RB Lic. #23004

808.345.2108

Renee@SearchHawaiiProperty.com www.SearchHawaiiProperty.com As a luxury expert on the Big Island of Hawai’i Renée H. Kraft offers a wealth of knowledge and expertise that is unsurpassed. You can always trust her service, commitment, and confidentiality in all facets of the real estate transaction.

Renée H. Kraft acquired her Hawai’i real estate license in 1992 while attending college at the University of Hawaii at Manoa. She started in property management in Honolulu then after graduating moved into the practice of general real estate and relocated to her home in KailuaKona in 2003. The luxury benchmark on Hawai’i island typically starts at $1.2M with luxury median residential pricing in the resorts, private estates, villas, and condo markets varying between $2M-$5M. Several high end properties on an annual basis exceed the $5M-$20M benchmarks.

She is a Broker representing the Distinctive Collection the luxury branch of Better Homes and Gardens Real Estate Island Lifestyle. Born and raised on Oahu she brings an intimate lifetime of knowledge to the table having lived between Hawai’i Island and Oahu all her life.

She enjoys serving her community as a longtime member of the Rotary Club of Kona and the Kona-Kohala Chamber of Commerce.

• LUXBHGRE Certified Luxury Property Specialist • Member Institute for Luxury Home Marketing • Bachelor of Arts & Sciences Psychology & Economics • Resort & Second Home Property Specialist • Investment and Vacation Home Specialist • Graduate of the Graduate Realtors Institute • Accredited Buyers Representative • Sellers Representation Specialist

TABLE OF CONTENTS PAGE 4

LUXURY REPORT EXPLAINED

PAGE 5

WELCOME MESSAGE

PAGE 6-8

NORTH AMERICAN LUXURY MARKET REVIEW

PAGE 9

13-MONTH MARKET TRENDS

PAGE 10

SINGLE-FAMILY HOMES MONTHLY OVERVIEW

PAGE 11

ATTACHED HOMES MONTHLY OVERVIEW

PAGE 12-15 MONTHLY STATISTICS BY CITY - Single-Family Homes PAGE 16-19 MONTHLY STATISTICS BY CITY - Attached Homes PAGE 21

LOCAL LUXURY MARKET REVIEW

PAGE 22-23 SINGLE-FAMILY HOMES - Monthly Statistics PAGE 24-25 ATTACHED HOMES - Monthly Statistics PAGE 26

THANK YOU

– LUXURY REPORT EXPLAINED – The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-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 in-depth 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

W

elcome to the Luxury Market Report, your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report

provides an in-depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.

Copyright © 2021 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

31 18 21

11

10 15

OCT

NOV

DEC

JAN

FEB

MAR

10

10

13

APR

15

14

16

11 15

15

JUL

AUG

SEP

13

11

MAY

JUN

OCT

$420

$514

$540 $427

$411

$486

$492 $410

$421

$411

$508

$513 $403

$394

$488

$494

$378

$394

$486

$489 $392

$300

$375

$400

$481

$500

$521

$600

$482

PRICE PER SQUARE FOOT

37

34

31

20

0

$200

$100

$0

SALES PRICE VS. LIST PRICE

35

36

33

30

34

$393

DAYS ON MARKET

31

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

$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

October 2021

Median List Price

$1,684,750

$1,812,500

Median Sale Price

$1,382,500 $1,390,000

Median SP/LP Ratio

97.96%

100.00%

Total Sales Ratio

33.06%

56.62%

$393

$420

Median Price per Sq. Ft.

October 2020

October 2021

Total Inventory

40,891

28,575

New Listings

12,026

9,647

Total Sold

13,520

16,180

31

15

3,752

3,347

Median Days on Market Average Home Size

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%).

1

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 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

October 2021

Median List Price

$899,950

$1,112,500

Median Sale Price

$875,000

$889,475

Median SP/LP Ratio

98.56%

100.00%

Total Sales Ratio

20.19%

43.78%

$482

$514

Median Price per Sq. Ft.

October 2020

Total Inventory

October 2021

18,607

11,212

New Listings

5,326

3,915

Total Sold

3,757

4,909

34

13

2,076

1,913

Median Days on Market Average Home Size

Median prices represent properties priced above respective city benchmark prices.





1,411

1,152

New Listings

Total Sold



14,475

$

Med. Sale Price



21



23.59%

Days on Market

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%), GTA-Durham (333%) and Howard County (309%).

1

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 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

$1,168,880

$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

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

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

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

ID

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

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 State Market Name

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

CO

Denver

CO

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

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

-

-

-

-

-

-

-

ID

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

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.

NOVEMBER

2021

ISLAND OF HAWAII H AWAI I

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: 64 2

1

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

Total Sales: 24

Total Sales Ratio2: 38%

2

0

5

0

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

Seller's Market

4

1

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

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

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 TREND 4 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

$1,800,000

$1,760,000

77 36

43

Feb-21

Mar-21

67

72

42

40

Apr-21

May-21

63

$1,990,000 $1,775,000

$1,630,000

57 27

Jun-21

Jul-21

64

60

53

27

28

Aug-21

Sep-21

24

24 Oct-21

MEDIAN DATA REVIEW | OCTOBER TOTAL INVENTORY Oct. 2020

Oct. 2021

141

TOTAL SOLDS Oct. 2020

Oct. 2021

64 VARIANCE: -55 %

24 VARIANCE: 20 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

Oct. 2020

Oct. 2021

729 VARIANCE: 10 %

$

661

$

20

Oct. 2020

Oct. 2021

96.63% 99.37% VARIANCE: 3 %

SALES PRICE Oct. 2020

$

1.50m

Oct. 2021

2.23m VARIANCE: 48 % $

DAYS ON MARKET Oct. 2020

Oct. 2021

62

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

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

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

1 1

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

1

$2,400,000 - $2,699,999 $2,100,000 - $2,399,999

Total Inventory: 32

Seller's Market

2

0

Total Sales Ratio2: 91%

2

0

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

3

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

3

0

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

2 2

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

2

4

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

Total Sales: 29

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 TREND 4 Sale Price

Inventory

Solds

$2,975,000 $2,222,500 $1,750,000

76

65

$1,500,000

$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

Mar-21

26

31

Apr-21

29

17

24

May-21

17

28

Jun-21

23

Jul-21

35

34 16

18

Aug-21

Sep-21

32

29

Oct-21

MEDIAN DATA REVIEW | OCTOBER TOTAL INVENTORY Oct. 2020

Oct. 2021

76

TOTAL SOLDS Oct. 2020

Oct. 2021

32 VARIANCE: -58 %

29 VARIANCE: 53 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

Oct. 2020

Oct. 2021

1,357

$

762 VARIANCE: -44 % $

19

Oct. 2020

SALES PRICE

Oct. 2021

100.00% 100.00% VARIANCE: 0 %

Oct. 2020

$

2.98m

Oct. 2021

1.30m VARIANCE: -56 % $

DAYS ON MARKET Oct. 2020

Oct. 2021

11

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

Thank you for taking time to view this report.

For more information about this report and the services I can offer you and your luxury property, please give me a call at 808.345.2108.

- Renée H, Kraft

RENÉE H. KRAFT

808.345.2108 | Renee@SearchHawaiiProperty.com | www.SearchHawaiiProperty.com