KAUAI
|
OAHU
|
MAUI
|
HAWAII ISLAND
Luxury Market Report Hawaii, February 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
Turtle Bay Office
57-091 Kamehameha Hwy Kahuku, HI 96731 (800) 315-3898
KAUAI OFFICES Lahaina Office
75 Kupuohi St. Suite 203 Lahaina, HI 96761 (800) 315-3898
Koloa Office
Princeville Office
Mauna Lani Portfolio
Waimea Office
3417 Poipu Rd. Suite 110B Koloa, HI 96756 (800) 315-3898
5-4280 Kuhio Hwy. Suite B-103 Princeville, HI 96722 (800) 315-3898
HAWAII ISLAND OFFICES Hilo Office
64 Keawe St. Suite 203 Hilo, HI 96720 (800) 315-3898
Kona Office
Walua Professional Bldg. 75-5905 Walua Rd. Suite 9 Kailua-Kona, HI 96740 (800) 315-3898
Mauna Lani Auberge Resort 68-1400 Mauna Lani Dr, Suite 108 Waimea, HI 96743 (800) 315-3898
65-1291 Kawaihae Rd. Suite 101 C Kamuela, HI 96743 (800) 315-3898
Table of Contents Page 5
Luxury Report Explained
Page 6
Welcome Message
Page 7-10
North American Luxury Market Review
Page 11
13-Month Market Trends
Page 12
Single-Family Homes Monthly Overview
Page 13
Attached Homes Monthly Overview
Page 23
Hawaii Luxury Market Review
Page 24
Kauai Market review
Page 29
Oahu Market Review
Page 34
Maui Market Review
Page 39
Island of Hawaii Market Review
Page 44
Thank You
Luxury Report Explained The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-squarefoot – to provide you a comprehensive North American Luxury Market report. Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes. It is our intention to include additional luxury markets on a continual basis. If your market is not featured, please contact us so we can implement the necessary qualification process. More indepth reports on the luxury communities in your market are available as well. Looking through this report, you will notice three distinct market statuses, Buyer's Market, Seller's Market, and Balanced Market. A Buyer's Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/ or price point. By contrast, a Seller's Market gives sellers greater control over the price point. Typically, this means there are few homes on the market and a generous demand, causing competition between buyers who ultimately drive sales prices higher. A Balanced Market indicates that neither the buyers nor the sellers control the price point at which that property will sell and that there is neither a glut nor a lack of inventory. Typically, this type of market sees a stabilization of both the list and sold price, the length of time the property is on the market as well as the expectancy amongst homeowners in their respective communities – so long as their home is priced in accordance with the current market value.
Report Glossary REMAINING INVENTORY: The total number of homes available at the close of a month. DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted. LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes. NEW LISTINGS: The number of homes that entered the market during the current month. PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot. SALES RATIO: Sales Ratio defines market speed and determines whether the market currently favors buyers or sellers. Buyer's Market = up to 14%; Balanced Market = 15 to 20%; Seller's Market = 21% plus. If >100%, sales from previous month exceed current inventory. SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.
This is your
Luxury Market Report
W
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 There is no doubt that 2020 was the year of unpredictability, from dramatic stops and starts to multiple offers on properties that had sat on the market for years, as well as significant lifestyle changes in both work, home, and play. As we look to the trends being predicted for 2021, many experts find themselves in a quandary as the pandemic is still a major factor, and its long term effects remain somewhat of an unknown entity. Work/lifestyle balance may have been a trend that was cemented by the pandemic in 2020, but this initial trend has long been in the making as people recognized the need to de-stress their lives. As we move in 2021, there is an expectation that this will be one of the lasting trends and exurban, rural, and resort locations will be the beneficiaries. The pandemic is still fueling the uptick in numbers of new residents who are now ready to enjoy the perks of these lifestyles, especially given that they can work from home. Equally it is expected that the affluent will continue to realign their priorities to spend more on real estate to provide their families a sense of security, health safety, and privacy. For the wealthy this will mean that work, school, socializing, and entertainment will take place in their homes through much of 2021. Prices for luxury properties have climbed steadily over the last few months in the majority of luxury markets across North America, even in major metropolitan cities. Another recent surprise has been the uptick in the number of sales in the attached property market. Much of this demand has stemmed from the growth of the wealthy, both in terms of financial and numbers, during 2020. They have been responsible for an upsurge in property purchases in exurban
and rural communities, as well as larger attached properties in metropolitan markets. For those who did sell their city property, it is speculated that there will be a return of the pied-a-terre as they buy back into their metropolitan city. These buyers are taking advantage of condo prices that did fall slightly and increased inventory levels that rose significantly during the last six to eight months of 2020. Many experts believe that, if COVID starts to dissipate or becomes more controllable during 2021, there will be a return to the big city life, as some will miss the cultural and social aspects, and others will recognize that it is a necessary step to advance their careers or businesses. Other experts believe that the demand for exclusive residential properties that offer larger footprints, provide more amenities such as private outdoor space, touchless technology, numerous home offices, and health perks including air and water filtration to natural and ambient lighting systems, will still be the driving force of luxury real estate in 2021. Stating that the trends of 2020 have created a complete shift in lifestyle choices that is unlikely to be reversed. Factor in lower interest rates, low inventory levels, new wealth from sectors that benefitted from the pandemic, a millennial population that is ready to find a safe haven, and significant increase in second home buying as well as upsizing and new properties offering higher wellness standards, and you have the perfect storm for creating a continued strong buyer demand. The bigger question lies in whether current sales levels and price increases can be sustained indefinitely. There is always a point at which prices do become too high and demand levels off, but for communities where inventory levels are at an all-time low, this trend may well continue far into 2021. In fact, many
luxury markets saw a significant decrease in inventory in January 2021. Single family available properties are down over 30% from January 2020. Just as the pandemic had an impact on the types of property in demand, so too has it affected the design trends for 2021. 2020 was a big year for the home décor market, both inside and out, especially for those homeowners who chose not to move, but instead invest in reimagining their lifestyle spaces. Design trends for 2021 are predicted to take their cue from the collective pulse and include a range of choices based on necessity through to creating a personal refuge. Working from home has made the importance of creating a dedicated office space the number one priority for many homeowners. As a result, the idea of a home office has evolved from finding a quiet space in the house to creating a dedicated location which not only caters for a work area but work-related storage items too. The affluent, often with multiple requirements, with both parents and children needing space, have looked to repurpose rooms within their homes. There is also a clear focus that many are looking to reconfigure their spaces, so there is a distinct separation between work and family areas. As the number of virtual meetings increased, so too has the desire to ensure that the environment showcased to other participants become more aesthetically pleasing. Backdrops have been redesigned to show artwork, clean lines, carefully curated furnishings and finishing, and even new methods of lighting have been introduced to create softer more flattering images on the screen. The trend for multi-functional open concept living has now been replaced with adapting the home to create more private and quieter spaces, as we now work, exercise and entertain within the home environment. As guest bedrooms are no longer required, often these are being converted into offices, large recreational rooms are being sub-divided to include multiple workstations for home
schooling and garage space repurposed to include personal gyms. Given the amount of time now spent in the home, design trends have swung away from more formal spaces that were a showcase for entertainment to become more informal. Softer furniture designs, more relaxed materials and textured finishings are being introduced to provide functionality and durability. Colors and tones incorporated to create calmer more welcoming spaces that invite long term stay. One trend that has stayed the course, is the desire to bring the outdoors in and vice versa, so there is no distinction between the exterior and interior once the doors are open. In the winter months, the need for natural light has seen an increase in demand for the implementation of larger windows, and the inclusion of sliding doors ready for the warmer summer months. Large residential developers, particularly those with luxury condominium buildings that prior to pandemic were scheduled for release, have had to rethink their strategies for 2021. The demand for wellness amenities, private and separate spaces, as well as touchless technology has meant a considerable adjustment to many plans. However, the reward has been significant as the affluent are willing to invest in properties that prioritize their demand for health, safety and mental wellness.
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.
80
74 62
Days on Market
60
57
55
43
40
42
38
33
38
37
34
36
34
31 20
31
32
27
29
35
38
34
29
36
28
35
29
0 JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
$383
$377
$384
$384
$487
$382
$478
$506
$372
$448
$468
$492 $372
$473 $338
$354
$443
$468 $343
$354
$368
$300
$485
$470
$451
$400
$372
Price per Square Foot
$500
$499
$600
AUG
SEP
OCT
NOV
DEC
JAN
$200
$100
$0 JAN
FEB
MAR
APR
MAY
JUN
JUL
Sales Price vs. List Price
$1,900,000 $1,700,000 $1,500,000 $1,300,000 $1,100,000 $900,000 $700,000 $500,000 JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
Luxury Monthly Market Review A Review of Key Market Differences Month Over Month January 2020 | January 2021
Single-Family Homes Median List Price
Median Sale Price
Jan. 2021
$1,595,000
$1,799,000
96.75%
97.91%
$1,368,500
Median SP/LP Ratio Total Sales Ratio
Jan. 2020
Median Price per Sq. Ft.
13.42% $372
$1,350,000
38.58%
$384
Jan. 2020 Jan. 2021 Total Inventory New Listings
40,508
24,721
5,436
9,537
11,566
Total Sold
Median Days on Market Average Home Size
74
3,771
7,635
3,551
Median prices represent properties priced above respective city benchmark prices.
3,931
4,101
New Listings
Total Sold
36
25.16%
Med. Sale Price
Days on Market
Sales Ratio
18,500
$
Single-Family Homes Market Summary | January 2021 •
Official Market Type: Seller's Market with a 38.58% Sales Ratio.1
•
Homes are selling for an average of 97.91% of list price.
•
The median luxury threshold2 price is $900,000, and the median luxury home sales price is $1,350,000.
•
Markets with the Highest Median Sales Price: Vail ($4,988,100), Los Angeles Beach Cities ($4,200,000), Los Angeles City ($3,425,000), and Vancouver ($3,250,000).
•
Markets with the Highest Sales Ratio: Ada County (229%), Austin (181%), East Bay (167%) and Sacramento (154%). 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.
38
Luxury Monthly Market Review A Review of Key Market Differences Year over Year January 2020 | January 2021
Attached Homes
Median List Price
Median Sale Price
Jan. 2021
$999,450
$1,077,500
97.75%
98.55%
$900,000
Median SP/LP Ratio Total Sales Ratio
Jan. 2020
Median Price per Sq. Ft.
12.94% $451
$905,500 23.90% $487
Jan. 2020 Jan. 2021 Total Inventory New Listings
15,864
13,533
2,053
3,234
4,542
Total Sold
Median Days on Market Average Home Size
55
2,015
3,997
2,031
Median prices represent properties priced above respective city benchmark prices.
20
10.96%
Days on Market
Sales Ratio
545
1,181
$
New Listings
Total Sold
Med. Sale Price
5,500
Attached Homes Market Summary | January 2021 •
Official Market Type: Seller's Market with a 23.90% Sales Ratio.1
•
Attached homes are selling for an average of 98.55% of list price.
•
The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $905,500.
•
Markets with the Highest Median Sales Price: Vail ($2,525,000), San Francisco ($2,225,000), Island of Hawaii ($2,222,500), and Park City ($1,912,000).
•
Markets with the Highest Sales Ratio: GTA-Durham (513%), Central Coast (260%), GTA-York (134%) and Ventura County (125%). 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.
35
Luxury Monthly Market Review Single-Family Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Calgary
$1,180,000
$999,000
381
179
91
56
Seller's
AZ
Paradise Valley
$3,997,500
$2,425,000
114
22
26
105
Seller's
AZ
Phoenix
$1,300,000
$850,000
177
56
154
41
Seller's
AZ
Scottsdale
$2,500,000
$1,650,000
316
88
154
64
Seller's
AZ
Tucson
$825,000
$650,000
328
108
195
15
Seller's
BC
Greater Victoria
$2,399,000
$1,875,000
63
33
7
70
Buyer's
BC
Okanagan Valley
$1,787,500
$1,318,500
272
76
58
72
Seller's
BC
Vancouver
$4,489,000
$3,250,000
688
275
97
10
Buyer's
CA
Central Coast
$3,996,500
$2,172,500
154
42
52
15
Seller's
CA
East Bay
$2,674,000
$1,892,500
134
82
224
9
Seller's
CA
Lake Tahoe
$4,041,500
$1,650,000
30
13
13
91
Seller's
CA
Los Angeles Beach Cities
$5,347,500
$4,200,000
338
94
51
47
Balanced
CA
Los Angeles City
$4,950,000
$3,425,000
716
248
98
47
Buyer's
CA
Los Angeles The Valley
$2,724,500
$1,800,000
324
123
176
23
Seller's
CA
Marin County
$3,822,500
$2,737,500
46
8
22
34
Seller's
CA
Napa County
$2,697,500
$1,870,000
66
10
10
59
Balanced
CA
Orange County
$2,999,500
$1,800,000
787
258
338
21
Seller's
CA
Palm Springs/Palm Desert
$2,300,000
$1,495,000
238
62
123
53
Seller's
CA
Placer County
$1,100,000
$926,000
73
31
78
28
Seller's
CA
Sacramento
$949,500
$705,000
226
118
347
12
Seller's
CA
San Diego
$2,995,000
$1,700,000
518
182
296
17
Seller's
CA
San Francisco
$4,500,000
$3,090,000
89
30
34
18
Seller's
CA
San Luis Obispo County
$1,865,000
$1,260,000
97
13
29
N/A
Seller's
CA
Santa Barbara
$4,722,500
$3,150,000
118
31
43
36
Seller's
CA
Silicon Valley
$4,500,000
$3,025,000
257
114
153
12
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
Ventura County
$2,750,000
$1,460,000
146
44
86
38
Seller's
CO
Boulder
$2,162,500
$1,705,850
152
35
51
69
Seller's
CO
Colorado Springs
$1,035,000
$780,500
96
39
74
10
Seller's
CO
Denver
$1,500,000
$1,094,750
316
118
238
23
Seller's
CO
Douglas County
$1,500,000
$1,110,000
114
39
63
23
Seller's
CO
Durango
$1,525,000
$1,150,000
52
15
13
93
Seller's
CO
Summit County
$2,990,000
$1,658,578
16
6
8
86
Seller's
CO
Vail
$7,245,000
$4,988,100
78
8
14
58
Balanced
CT
Central Connecticut
$689,900
$584,250
284
64
84
52
Seller's
CT
Coastal Connecticut
$2,269,500
$1,475,000
628
134
179
65
Seller's
DC
Washington D.C.
$4,750,000
$2,807,500
49
10
10
50
Balanced
FL
Boca Raton/Delray Beach
$2,949,500
$2,020,000
272
66
55
112
Balanced
FL
Coastal Pinellas Towns
$1,599,900
$1,790,000
35
15
13
38
Seller's
FL
Greater Fort Lauderdale
$1,650,000
$969,500
779
193
196
48
Seller's
FL
Jacksonville Beaches
$1,799,000
$1,180,000
107
29
41
38
Seller's
FL
Lee County
$1,725,000
$1,589,000
294
76
82
87
Seller's
FL
Miami
$1,490,000
$1,236,000
838
191
159
91
Balanced
FL
Naples
$2,995,000
$1,997,500
283
83
106
51
Seller's
FL
Orlando
$1,697,000
$1,350,000
289
66
51
94
Balanced
FL
Palm Beach Towns
$4,500,000
$3,175,000
145
33
35
73
Seller's
FL
Sarasota & Beaches
$1,850,000
$1,970,000
142
35
49
28
Seller's
FL
South Walton
$2,872,500
$2,197,500
124
24
40
24
Seller's
FL
Tampa
$939,500
$717,559
335
107
174
20
Seller's
GA
Atlanta
$1,375,000
$962,175
572
168
180
30
Seller's
HI
Island of Hawaii
$2,900,000
$1,595,000
109
21
31
29
Seller's
State
Market Name
CA
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
Kauai
$2,700,000
$2,375,000
101
12
20
66
Balanced
HI
Maui
$4,285,000
$2,112,000
129
17
28
115
Seller's
HI
Oahu
$3,697,500
$2,437,500
164
28
26
36
Balanced
ID
Ada County
$819,900
$750,500
48
35
110
3
Seller's
ID
Northern
$1,250,000
$880,000
161
57
87
75
Seller's
IL
Chicago
$1,399,000
$1,085,000
856
317
229
70
Seller's
IL
DuPage County
$1,185,000
$926,875
329
121
68
81
Balanced
IL
Lake County
$1,199,900
$868,500
327
92
62
94
Balanced
IL
Will County
$759,900
$576,785
145
40
42
40
Seller's
IN
Hamilton County
$914,000
$769,046
72
22
51
41
Seller's
MA
Greater Boston
$3,495,000
$3,042,500
71
14
24
80
Seller's
MD
Anne Arundel County
$1,100,000
$895,203
129
35
67
11
Seller's
MD
Montgomery County
$2,047,500
$1,508,000
112
40
78
11
Seller's
MD
Talbot County
$2,425,000
$1,455,000
40
1
10
62
Seller's
MD
Worcester County
$1,349,000
$1,277,500
27
5
2
40
Buyer's
MI
Livingston County
$849,950
$625,000
40
9
19
36
Seller's
MI
Monroe County
$695,500
$530,000
15
1
3
74
Balanced
MI
Oakland County
$849,000
$650,000
434
123
130
30
Seller's
MI
Washtenaw County
$800,000
$690,000
95
18
14
45
Buyer's
MI
Wayne County
$779,000
$607,500
187
49
40
25
Seller's
MO
St. Louis
$850,000
$667,500
87
18
44
13
Seller's
NC
Charlotte
$1,100,000
$825,000
318
96
198
13
Seller's
NC
Raleigh-Durham
$827,450
$700,000
370
116
266
3
Seller's
NJ
Ocean County
$885,000
$812,893
233
69
130
37
Seller's
NV
Las Vegas
$956,167
$755,000
602
178
329
32
Seller's
State
Market Name
HI
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Single-Family Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Reno
$1,792,000
$1,297,500
41
11
30
72
Seller's
NY
Brooklyn
$1,680,000
$1,387,500
248
46
14
55
Buyer's
NY
Nassau County
$1,895,000
$1,379,500
769
167
152
69
Balanced
NY
Suffolk County
$1,599,000
$1,100,000
890
179
171
48
Balanced
ON
GTA - Durham
$1,897,000
$1,234,000
92
79
127
6
Seller's
ON
GTA - York
$2,760,000
$1,855,000
305
234
207
17
Seller's
ON
Oakville
$3,788,800
$2,650,000
59
27
11
24
Balanced
ON
Toronto
$3,650,000
$3,052,500
251
157
66
16
Seller's
TX
Austin
$1,950,000
$882,000
125
57
226
7
Seller's
TX
Collin County
$824,995
$655,000
153
48
141
35
Seller's
TX
Dallas
$1,177,000
$862,450
318
98
114
49
Seller's
TX
Denton County
$888,000
$695,000
131
64
121
36
Seller's
TX
Fort Worth
$1,034,658
$771,000
232
88
152
31
Seller's
TX
Houston
$850,000
$755,000
1,445
483
213
42
Buyer's
TX
San Antonio
$949,900
$810,000
244
64
59
73
Seller's
TX
The Woodlands & Spring
$1,050,000
$718,536
196
51
80
27
Seller's
UT
Park City
$4,950,000
$3,000,000
81
19
25
63
Seller's
UT
Salt Lake City
$1,262,500
$1,000,000
98
26
70
55
Seller's
VA
Arlington & Alexandria
$2,199,000
$1,687,500
48
15
18
18
Seller's
VA
Fairfax County
$2,499,500
$1,532,500
240
68
82
28
Seller's
VA
McLean & Vienna
$2,797,500
$1,675,000
134
37
37
27
Seller's
VA
Richmond
$875,000
$739,720
167
45
67
30
Seller's
WA
Greater Seattle
$2,095,000
$1,647,500
453
102
286
12
Seller's
WA
Seattle
$1,859,500
$1,512,500
104
42
90
20
Seller's
State
Market Name
NV
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
$930,000
$850,000
66
18
7
27
Buyer's
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$900,000
$675,000
125
38
73
57
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Greater Victoria
$912,450
$1,086,900
82
35
4
25
Buyer's
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,988,800
$1,644,000
625
267
100
8
Balanced
CA
Central Coast
$1,295,000
$1,100,000
5
3
13
10
Seller's
CA
East Bay
$1,038,440
$965,000
66
44
66
9
Seller's
CA
Lake Tahoe
$1,300,000
$1,180,000
29
7
12
43
Seller's
CA
Los Angeles Beach Cities
$1,749,000
$1,430,000
191
77
65
18
Seller's
CA
Los Angeles City
$1,549,500
$1,200,000
396
136
73
45
Balanced
CA
Los Angeles The Valley
$879,000
$763,500
35
21
42
27
Seller's
CA
Marin County
$1,299,000
$966,000
11
4
7
72
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,195,000
$942,000
224
87
167
16
Seller's
CA
Palm Springs/Palm Desert
-
-
-
-
-
-
-
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,296,000
$879,000
289
129
147
22
Seller's
CA
San Francisco
$2,995,000
$2,225,000
84
33
25
66
Seller's
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Santa Barbara
$1,912,500
$1,495,000
20
14
9
16
Seller's
CA
Silicon Valley
$1,679,685
$1,600,000
63
37
35
26
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
CA
Ventura County
$863,900
$750,000
28
12
35
21
Seller's
CO
Boulder
$1,065,000
$766,000
67
14
22
82
Seller's
CO
Colorado Springs
-
-
-
-
-
-
-
CO
Denver
$764,450
$651,250
334
138
202
23
Seller's
CO
Douglas County
$599,900
$587,218
14
8
15
39
Seller's
CO
Durango
$825,000
$684,500
9
3
4
44
Seller's
CO
Summit County
$1,450,000
$1,030,000
5
1
3
5
Seller's
CO
Vail
$3,545,000
$2,525,000
98
10
19
82
Balanced
CT
Central Connecticut
-
-
-
-
-
-
-
CT
Coastal Connecticut
$1,070,000
$745,500
193
34
44
71
Seller's
DC
Washington D.C.
$1,995,000
$1,497,500
179
53
46
14
Seller's
FL
Boca Raton/Delray Beach
$1,095,000
$810,000
323
58
61
43
Balanced
FL
Coastal Pinellas Towns
$1,009,000
$805,000
69
20
26
15
Seller's
FL
Greater Fort Lauderdale
$875,000
$702,000
1,115
188
98
80
Buyer's
FL
Jacksonville Beaches
$1,094,000
$1,045,000
27
8
6
32
Seller's
FL
Lee County
$889,000
$741,250
226
49
54
57
Seller's
FL
Miami
$1,085,000
$881,000
2,369
366
122
233
Buyer's
FL
Naples
$2,495,000
$1,875,000
157
29
43
62
Seller's
FL
Orlando
$720,000
$577,500
49
13
8
96
Balanced
FL
Palm Beach Towns
$1,775,000
$1,310,063
253
44
46
175
Balanced
FL
Sarasota & Beaches
$2,197,000
$1,400,000
182
49
72
29
Seller's
FL
South Walton
$1,246,140
$1,020,000
126
14
19
8
Balanced
FL
Tampa
$734,950
$585,000
80
30
29
35
Seller's
GA
Atlanta
$675,000
$655,000
483
185
86
47
Balanced
HI
Island of Hawaii
$1,965,000
$2,222,500
42
8
24
42
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
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Kauai
$1,550,000
$1,205,000
67
11
15
4
Seller's
HI
Maui
$1,850,000
$1,800,000
115
22
15
119
Buyer's
HI
Oahu
$1,595,000
$995,000
304
48
27
40
Buyer's
ID
Ada County
$695,000
$587,000
11
1
10
1
Seller's
ID
Northern
-
-
-
-
-
-
-
IL
Chicago
$1,155,900
$1,011,000
869
285
98
69
Buyer's
IL
DuPage County
$719,450
$698,500
52
16
2
12
Buyer's
IL
Lake County
-
-
-
-
-
-
-
IL
Will County
-
-
-
-
-
-
-
IN
Hamilton County
-
-
-
-
-
-
-
MA
Greater Boston
$2,349,000
$1,795,000
259
73
33
55
Buyer's
MD
Anne Arundel County
$592,500
$528,000
24
10
23
19
Seller's
MD
Montgomery County
$819,950
$677,500
138
53
60
16
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$739,450
$623,605
56
23
18
34
Seller's
MI
Livingston County
-
-
-
-
-
-
-
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$824,495
$575,000
58
18
9
17
Balanced
MI
Washtenaw County
$622,450
$575,000
40
14
13
20
Seller's
MI
Wayne County
$664,750
$650,000
52
8
3
58
Buyer's
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$769,000
$600,000
133
27
39
58
Seller's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$689,000
$673,000
15
1
10
61
Seller's
NV
Las Vegas
-
-
-
-
-
-
-
State
Market Name
HI
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
-
-
-
-
-
-
-
Brooklyn
$1,296,500
$995,000
590
125
70
56
Buyer's
NY
Nassau County
$1,391,500
$1,260,000
120
21
19
103
Balanced
NY
Suffolk County
$799,000
$718,500
92
26
34
62
Seller's
ON
GTA - Durham
$829,900
$786,500
16
38
82
4
Seller's
ON
GTA - York
$876,500
$940,000
125
180
167
8
Seller's
ON
Oakville
$2,319,500
$1,212,500
26
9
2
15
Buyer's
ON
Toronto
$1,300,000
$1,070,000
515
366
204
13
Seller's
TX
Austin
$983,393
$655,700
130
42
52
35
Seller's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$875,000
$770,000
147
40
18
109
Buyer's
TX
Denton County
-
-
-
-
-
-
-
TX
Fort Worth
-
-
-
-
-
-
-
TX
Houston
$685,500
$565,000
150
44
19
86
Buyer's
TX
San Antonio
$839,000
$697,000
37
7
3
101
Buyer's
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$2,450,000
$1,912,000
85
24
28
13
Seller's
UT
Salt Lake City
$800,000
$599,500
41
10
22
38
Seller's
VA
Arlington & Alexandria
$1,469,000
$970,000
65
28
33
12
Seller's
VA
Fairfax County
$859,990
$685,000
99
39
94
8
Seller's
VA
McLean & Vienna
$1,311,450
$930,000
36
12
7
6
Balanced
VA
Richmond
-
-
-
-
-
-
-
WA
Greater Seattle
$1,295,000
$1,125,000
215
62
57
9
Seller's
WA
Seattle
$1,494,000
$1,275,000
112
30
19
77
Balanced
State
Market Name
NV
Reno
NY
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury IS IN
EACH DETAIL. HUBERT DE GIVENCHY
Hawaii
Luxury Market Review Corcoran Pacific Properties is pleased to present a closer look at the luxury real estate market in Hawaii, showcasing detailed statistical analysis of Kauai, Oahu, Maui and the Island of Hawaii for January 2021. We also share our predictions for the luxury market during 2021. The first month of 2021 continues to see the trend set in the last quarter of 2020, with growing numbers in sales transactions and increasing average sold prices, while inventory levels continue to fall. At the start of 2020 there had been expectations that the Hawaiian Islands would see a strong year and, despite the disruption of the pandemic, the year did end with a growth of over 20% in luxury sales. January 2021 figures show an even stronger start, with more significant increases year over year than expected. The total number of sales increased over 114% for luxury single family homes and even sales for attached properties were up 14.08% when compared to January 2020. Median price points for January 2021 rose 6.4% for single family and 10.7% for attached properties against the previous year, while inventory levels dropped 32.89% and 23.35% respectively. “Demand continues to increase, while inventory levels fall across the islands for all luxury property types” says Chuck Garrett, Senior Vice President of Corcoran Pacific Properties. “We expect that this will put an unprecedented pressure on the market during 2021, especially as we are already starting to see increased demand from buyers outside of the US.” Garrett anticipates that, as the distribution of vaccines increases, international travel will once again bring tourists and visitors back to the islands by summer. He predicts that this will have a positive impact on the purchase of vacation properties, particularly for luxury condos and townhomes, whose sales were badly depleted during the height of Hawaii’s lockdown. “Looking at the specifications of properties sold in the latter half of 2020,” Garrett predicts “single family homes that offer privacy, remoteness, large footprints and amenities such as home offices, theaters, swimming pools, tennis courts and are move-in ready, are likely to remain the most popular for the foreseeable future.” For homeowners currently looking to sell, now is the time to work with your Corcoran Pacific agent to prepare the home so that it’s turnkey, as statistics show that demand for properties in Hawaii is projected to continue to increase, and fetch close to relatable asking prices. As always, a real estate expert familiar with local trends is the best resource to navigate a specific market.
Kauai Hawaii February 2021
KAUAI
Single-Family Homes
Luxury Inventory vs. Sales | January 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,025,000 $6,000,000+ $5,400,000 - $5,999,999
$3,900,000 - $4,399,999
2
0
Total Inventory:
1 1
$4,900,000 - $5,399,999
$4,400,000 - $4,899,999
16
1
Total Sales: 20
0
6
2
10
2
$2,200,000 - $2,599,999
12
4
$1,800,000 - $2,199,999
11
2
$1,600,000 - $1,799,999
7
2
$1,500,000 - $1,599,999
3
1
$1,400,000 - $1,499,999
2
$1,300,000 - $1,399,999
20%
6
1
$2,600,000 - $2,999,999
1
Total Sales Ratio2:
7
$3,000,000 - $3,399,999
$1,200,000 - $1,299,999
Balanced Market
5
0
$3,400,000 - $3,899,999
101
2
3 3 9
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
1
0%
2 Bedrooms
$1,673,200
45
3
4
10
40%
3 Bedrooms
$2,460,000
65
4
9
35
26%
4 Bedrooms
$2,500,000
74
4
7
32
22%
5 Bedrooms
NA
NA
NA
0
13
0%
6+ Bedrooms
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.
KAUAI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
$2,987,500
$2,834,500
$2,007,500 $1,665,000 133
Solds
$1,550,000
$1,495,000
$1,700,000
$1,941,000
$1,875,000
101
97
94
90
$2,375,000
$1,515,000
131 105
$2,187,500
$2,022,500
110
104
91
5
2
7
2
4
1
7
12
9
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
107
18 Oct-20
101
91
15
14
Nov-20
Dec-20
20 Jan-21
The luxury threshold for Kauai, HI single-family homes has increased to $1,200,000 as of the February 2021 Luxury Market Report. The data for all 13 months in this chart has been updated to reflect this change.
Median Data Inventory December
Solds
January
91
101 VARIANCE: 11 %
Sale Price Per SqFt. December
794
$
January
14
20 VARIANCE: 43 %
December
$
2.19m
2.38m VARIANCE: 9 %
Sale to List Price Ratio
$
Days on Market
December
January
December
January
909
96.18%
94.88%
48
66
14%
1
VARIANCE: - %
VARIANCE:
Kauai Market Summary | January 2021 • The Kauai single-family luxury market is a Balanced Market with a 20% Sales Ratio. • Homes sold for a median of 94.88% of list price in January 2021.
• The most active price band is $4,900,000-$5,399,999, where the sales ratio is 100%. • The median luxury sales price for single-family homes has increased to $2,375,000.
• The median days on market for January 2021 was 66 days, up from 48 in December 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
January
January
$
VARIANCE:
December
Sales Price
38%
KAUAI
Attached Homes
Luxury Inventory vs. Sales | January 2021 Inventory
Sales
Luxury Benchmark Price 1: $850,000 $3,700,000+ $3,300,000 - $3,699,999 $2,900,000 - $3,299,999
$2,500,000 - $2,899,999
$1,700,000 - $1,899,999
2
0
Total Inventory:
0
Seller's Market 1 1
Total Sales Ratio2:
2
$1,500,000 - $1,699,999
1 7
1
$1,300,000 - $1,499,999
5
2
$1,100,000 - $1,299,999
1
9
1 2 2
$900,000 - $949,999
$850,000 - $874,999
3
1
$950,000 - $999,999
$875,000 - $899,999
7
4
$1,000,000 - $1,099,999
22%
4
0 0
67
Total Sales: 15
7
0
$2,200,000 - $2,499,999 $1,900,000 - $2,199,999
12
0
3
0 2
3
Beds3
Price
DOM
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0-1 Bedrooms
$850,000
7
2
1
1
100%
2 Bedrooms
$1,399,500
2
3
4
33
12%
3 Bedrooms
$1,120,000
68
3
6
21
29%
4 Bedrooms
$1,100,000
1
2
3
7
43%
5 Bedrooms
$1,350,000
13
4
1
3
33%
6+ Bedrooms
NA
NA
NA
0
2
0%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
KAUAI
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
Solds
$1,500,000 $1,225,000
$1,100,000
$1,300,000
$1,223,000
$900,000
80
81
79
74
$1,205,000
$1,125,000
$1,095,000
67
$992,500
$977,000
80
85
$965,000
$925,004 86
86
84
76
67
49 5 Jan-20
11
10
Feb-20
Mar-20
2
2
1
6
2
Apr-20
May-20
Jun-20
Jul-20
Aug-20
8
5
Sep-20
Oct-20
11
9
Nov-20
Dec-20
15 Jan-21
Median Data Inventory
Solds
Sales Price
December
January
December
January
76
67
9
15
VARIANCE: -
12%
Sale Price Per SqFt. December
$
January
896
964 VARIANCE: 8 % $
VARIANCE:
December
$
1.13m
67%
January
1.21m 7%
Days on Market December
97.21%
97.55% VARIANCE: 0 %
115
January
4 VARIANCE: -97 %
Kauai Market Summary | January 2021 • The Kauai attached luxury market is a Seller's Market with a 22% Sales Ratio. • Homes sold for a median of 97.55% of list price in January 2021.
• The most active price band is $900,000-$949,999, where the sales ratio is 100%. • The median luxury sales price for attached homes has increased to $1,205,000.
• The median days on market for January 2021 was 4 days, down from 115 in December 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
$
VARIANCE:
Sale to List Price Ratio December
January
Oahu Hawaii February 2021
OAHU
Single-Family Homes
Luxury Inventory vs. Sales | January 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,875,000 $9,250,000+ $8,250,000 - $9,249,999 $7,250,000 - $8,249,999
$4,650,000 - $5,449,999 $4,050,000 - $4,649,999
2
0
Total Inventory: 6
0
$6,250,000 - $7,249,999 $5,450,000 - $6,249,999
24
0
1
16%
10
0
7
1
19
2 10
3
22
5 8
1
13
3 3 3
$1,950,000 - $2,049,999 $1,875,000 - $1,949,999
Total Sales Ratio2:
8
$2,650,000 - $3,049,999
$2,050,000 - $2,249,999
Balanced Market
13
0
$3,050,000 - $3,449,999
$2,250,000 - $2,449,999
Total Sales: 26
1
$3,450,000 - $4,049,999
$2,450,000 - $2,649,999
164
11
4 8
3
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$2,175,000
4
3
9
26
35%
3,000 - 3,999
$2,700,000
4
4
7
32
22%
4,000 - 4,999
$2,912,500
4
5
5
36
14%
5,000 - 5,999
$2,722,500
6
5
4
30
13%
6,000 - 6,999
$3,545,100
5
6
1
9
11%
7,000+
NA
NA
NA
0
30
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
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
$2,570,000
$2,300,000
253
242
13 Jan-20
$2,890,000
$2,613,000
242
Inventory
$3,000,000 $2,600,000
$2,725,000
Solds
$2,900,000 $2,425,000
$2,345,000
$2,100,500
239
234
225
17
13
10
11
Feb-20
Mar-20
Apr-20
May-20
234
213
21
11 Jun-20
Jul-20
209
207
23
27
Aug-20
Sep-20
203
24 Oct-20
$2,468,000
194
$2,437,500
164
26
37
Nov-20
Dec-20
26 Jan-21
Median Data Inventory December
January
194
December
Sales Price January
164 VARIANCE: -15 %
26 VARIANCE: -30 %
Sale Price Per SqFt.
Sale to List Price Ratio
December
January
615
$
Solds
746 VARIANCE: 21 % $
37
December
January
December
$
2.47m
2.44m VARIANCE: -1 % $
Days on Market December
97.07%
95.89% VARIANCE: -1 %
47
January
36 VARIANCE: -23 %
Oahu Market Summary | January 2021 • The Oahu single-family luxury market is a Balanced Market with a 16% Sales Ratio. • Homes sold for a median of 95.89% of list price in January 2021.
• The most active price band is $2,050,000-$2,249,999, where the sales ratio is 100%. • The median luxury sales price for single-family homes has decreased to $2,437,500.
• The median days on market for January 2021 was 36 days, down from 47 in December 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
January
OAHU
Attached Homes
Luxury Inventory vs. Sales | January 2021 Inventory
Sales
Luxury Benchmark Price 1: $835,000 $7,100,000+ $6,100,000 - $7,099,999 $5,300,000 - $6,099,999
$4,500,000 - $5,299,999 $3,900,000 - $4,499,999
9%
Total Sales Ratio2:
5 17
1
10
1
25
0
26
0
34
2
$1,300,000 - $1,599,999
35
3
$1,100,000 - $1,299,999
36
4 18
1
$900,000 - $999,999
36
8
$835,000 - $899,999
1
Buyer's Market
16
0
304
Total Sales: 27
0
$1,600,000 - $1,899,999
$1,000,000 - $1,099,999
Total Inventory: 7
0
$2,700,000 - $3,299,999
$1,900,000 - $2,299,999
4
0
$3,300,000 - $3,899,999
$2,300,000 - $2,699,999
7
0
28
7
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$885,000
2
2
2
65
3%
1,000 - 1,499
$970,000
2
2
15
101
15%
1,500 - 1,999
$1,475,000
3
3
4
59
7%
2,000 - 2,499
$997,500
3
3
4
34
12%
2,500 - 2,999
$2,150,000
3
3
2
16
13%
3,000+
NA
NA
NA
0
29
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
Inventory
Solds
$1,417,500
$1,210,000
$1,225,000 $1,075,000
$1,043,000
393
381
32 Jan-20
390
$949,000
$937,500
375
384
$1,045,000
420
415
33
37
31
14
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
$1,030,000
$980,829
418
22
21
$1,167,500
409
409
22
30
Aug-20
Sep-20
398
24 Oct-20
$999,998
$995,000
345
304
31
34
Nov-20
Dec-20
27 Jan-21
Median Data Inventory December
January
345
December
Sales Price January
304 VARIANCE: -12 %
27 VARIANCE: -21 %
Sale Price Per SqFt.
Sale to List Price Ratio
December
$
Solds
January
808
828 VARIANCE: 2 % $
34
December
December
$
January
1.00m
995k VARIANCE: 0 % $
Days on Market December
97.47%
97.57% VARIANCE: 0 %
44
January
40 VARIANCE: -9 %
Oahu Market Summary | January 2021 • The Oahu attached luxury market is a Buyer's Market with a 9% Sales Ratio. • Homes sold for a median of 97.57% of list price in January 2021.
• The most active price band is $835,000-$899,999, where the sales ratio is 25%. • The median luxury sales price for attached homes has decreased to $995,000.
• The median days on market for January 2021 was 40 days, down from 44 in December 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
January
Maui Hawaii February 2021
MAUI
Single-Family Homes
Luxury Inventory vs. Sales | January 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,422,000 $7,000,000+ $6,000,000 - $6,999,999 $5,000,000 - $5,999,999
$4,500,000 - $4,999,999 $4,000,000 - $4,499,999
11
Seller's Market Total Sales Ratio2:
4
0
129
Total Sales: 28
9
0
22%
9
1
6
1
$2,500,000 - $2,999,999
19
3
$2,000,000 - $2,499,999
16
3 3 3
$1,900,000 - $1,999,999 $1,800,000 - $1,899,999
3
1
2 2
$1,700,000 - $1,799,999
4
0 2
$1,500,000 - $1,599,999
1
Total Inventory:
0
$3,000,000 - $3,499,999
$1,422,000 - $1,499,999
6
2
$3,500,000 - $3,999,999
$1,600,000 - $1,699,999
35
4
0
4 4
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$1,595,000
3
3
5
23
22%
2,000 - 2,999
$1,700,000
4
3
8
29
28%
3,000 - 3,999
$2,325,000
5
4
6
29
21%
4,000 - 4,999
$3,600,000
4
5
5
15
33%
5,000 - 5,999
$8,274,500
5
6
2
15
13%
6,000+
$8,650,000
5
7
2
18
11%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
MAUI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$2,750,000 $2,450,000 $2,100,000
$2,311,200
$2,275,000 $1,820,000
219
213
181
$1,999,999
$1,825,000
180
172
168
$1,995,000
173
173
164
$2,262,500
$2,025,000
182
173
9
15
13
11
9
9
21
15
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
11 Jan-20
$1,990,000
157
129
26
27
Nov-20
Dec-20
20 Oct-20
$2,112,000
28 Jan-21
Median Data Inventory December
January
157
129 VARIANCE: -18 % Sale Price Per SqFt.
December
$
January
854
845 VARIANCE: -1 % $
Solds December
Sales Price January
27
28 VARIANCE: 4 %
December
2.75m
$
Sale to List Price Ratio December
January
2.11m VARIANCE: -23 % $
Days on Market December
97.30%
96.31% VARIANCE: -1 %
74
January
115 VARIANCE: 55 %
Maui Market Summary | January 2021 • The Maui single-family luxury market is a Seller's Market with a 22% Sales Ratio. • Homes sold for a median of 96.31% of list price in January 2021.
• The most active price band is $1,500,000-$1,599,999, where the sales ratio is 200%. • The median luxury sales price for single-family homes has decreased to $2,112,000.
• The median days on market for January 2021 was 115 days, up from 74 in December 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
January
MAUI
Attached Homes
Luxury Inventory vs. Sales | January 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,183,200 $4,000,000+ $3,000,000 - $3,999,999
11
1
$2,500,000 - $2,999,999
$1,800,000 - $1,899,999
Total Sales Ratio2: 8
7
1
3
$1,500,000 - $1,599,999
$1,400,000 - $1,449,999 $1,350,000 - $1,399,999
2
$1,183,200 - $1,249,999
1
3
1
8
0
$1,300,000 - $1,349,999
$1,250,000 - $1,299,999
6
3
0 0
13%
1
$1,600,000 - $1,699,999
$1,450,000 - $1,499,999
Buyer's Market
12
1
$1,700,000 - $1,799,999
115
Total Sales: 15
1 0
Total Inventory:
8
2
$2,000,000 - $2,499,999 $1,900,000 - $1,999,999
21
2
8
1 7
0
12
0
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,565,000
2
2
1
14
7%
1,000 - 1,499
$1,650,000
2
2
4
43
9%
1,500 - 1,999
$1,727,500
3
3
6
25
24%
2,000 - 2,499
$2,750,000
3
3
3
13
23%
2,500 - 2,999
$6,400,000
3
5
1
15
7%
3,000+
NA
NA
NA
0
5
0%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
MAUI
Attached Homes
13-Month Luxury Market Trend4 Sale Price
$2,275,000
Inventory
$2,207,250
$1,980,000
$1,425,000
146
17 Jan-20
$1,495,000
141
$2,370,000
$2,205,000
$1,900,000
$1,445,000
140
$2,120,000
Solds
127
$1,500,000
$1,475,000
13
24
21
9
8
Feb-20
Mar-20
Apr-20
May-20
Jun-20
15 Jul-20
176
172
151
147
136
117
116
$1,800,000
174 115
31 Aug-20
9 Sep-20
37
21
20 Oct-20
Nov-20
15
Dec-20
Jan-21
Median Data Inventory December
Solds
January
December
174
January
115 VARIANCE: -34 %
15 VARIANCE: -59 %
Sale Price Per SqFt.
Sale to List Price Ratio
December
952
$
Sales Price
37
January
December
1,216 VARIANCE: 28 % $
January
December
1.50m
$
1.80m VARIANCE: 20 % $
Days on Market December
100.00%
97.03% VARIANCE: -3 %
119
January
119 VARIANCE: 0 %
Maui Market Summary | January 2021 • The Maui attached luxury market is a Buyer's Market with a 13% Sales Ratio. • Homes sold for a median of 97.03% of list price in January 2021.
• The most active price band is $1,500,000-$1,599,999, where the sales ratio is 67%. • The median luxury sales price for attached homes has increased to $1,800,000.
• The median days on market for January 2021 was 119 days, remaining the same from December 2020. Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
January
Island of Hawaii February 2021
ISLAND OF HAWAII
Single-Family Homes
Luxury Inventory vs. Sales | January 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,075,000 $10,000,000+ $8,600,000 - $9,999,999 $7,400,000 - $8,599,999
$6,200,000 - $7,399,999
4
1
Seller's Market
4
6
1 5
1
$2,600,000 - $2,999,999
11
1
$2,200,000 - $2,599,999
28%
7
1
$3,000,000 - $3,599,999
Total Sales Ratio2:
7
2
$3,600,000 - $4,399,999
109
Total Sales: 31
6
0
$4,400,000 - $5,199,999
8
1
9
0
$1,600,000 - $1,899,999
9
5 5
$1,400,000 - $1,599,999
$1,200,000 - $1,399,999
8 6
5
$1,075,000 - $1,199,999
1
Total Inventory:
0
$5,200,000 - $6,199,999
$1,900,000 - $2,199,999
11
2
11
3
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,298,000
3
3
11
34
32%
3,000 - 3,999
$1,527,500
5
4
6
15
40%
4,000 - 4,999
$6,100,000
4
5
5
17
29%
5,000 - 5,999
$4,500,000
5
6
1
7
14%
6,000 - 6,999
NA
NA
NA
0
4
0%
7,000+
NA
NA
NA
0
5
0%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
ISLAND OF HAWAII
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$2,025,000
$1,798,750
$1,737,500
$1,650,000
$1,569,500
$1,320,000
20 Jan-20
$1,750,000 $1,595,000
$1,497,000
$1,250,000 165
160
154
$1,487,500
$1,780,000
$1,600,000
156
149
14
14
Feb-20
Mar-20
12 Apr-20
144
10 May-20
138
18
28
Aug-20
Sep-20
21
14 Jun-20
Jul-20
143
141
133
132
122 47
29
22 Oct-20
109
Nov-20
31
Dec-20
Jan-21
Median Data Inventory December
Solds
January
122
January
109 VARIANCE: -11 %
31 VARIANCE: -34 %
Sale Price Per SqFt.
Sale to List Price Ratio
December
$
December
Sales Price
714
47
December
$
1.75m
1.60m VARIANCE: -9 % $
Days on Market
January
December
January
December
January
655
96.67%
97.28%
36
29
$
8
VARIANCE: - %
VARIANCE:
1%
VARIANCE: -
Island of Hawaii Market Summary | January 2021 • The Island of Hawaii single-family luxury market is a Seller's Market with a 28% Sales Ratio. • Homes sold for a median of 97.28% of list price in January 2021.
• The most active price band is $1,400,000-$1,599,999, where the sales ratio is 160%. • The median luxury sales price for single-family homes has decreased to $1,595,000.
• The median days on market for January 2021 was 29 days, down from 36 in December 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
January
19%
ISLAND OF HAWAII
Attached Homes
Luxury Inventory vs. Sales | January 2021 Inventory
Sales
Luxury Benchmark Price 1: $925,000 $4,500,000+ $4,000,000 - $4,499,999
4
1 0
$3,500,000 - $3,999,999
Total Inventory:
1 6
1
$3,100,000 - $3,499,999 $2,700,000 - $3,099,999
1
$2,400,000 - $2,699,999
1
$2,100,000 - $2,399,999
Total Sales Ratio2: 4
$1,000,000 - $1,099,999 $925,000 - $999,999
1
10
2 4
0 1
4
0
2
3 3
$1,200,000 - $1,299,999 $1,100,000 - $1,199,999
57%
0 0
$1,400,000 - $1,599,999 $1,300,000 - $1,399,999
Seller's Market
3
$1,800,000 - $2,099,999
$1,600,000 - $1,799,999
Total Sales: 24
5
2
42
2
0
2
0
3
1
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,995,000
1
1
1
1
100%
1,000 - 1,499
$2,450,000
2
2
3
5
60%
1,500 - 1,999
$1,400,000
2
2
1
16
6%
2,000 - 2,499
$1,325,000
3
3
5
7
71%
2,500 - 2,999
$2,937,500
4
4
4
3
133%
3,000+
$4,400,000
4
5
3
6
50%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
ISLAND OF HAWAII
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
Solds $2,975,000
$2,285,000 $1,700,000 $1,200,000 87
86
17 Jan-20
$1,315,000
84
$1,117,050
$2,099,500
$1,750,000
$1,480,000
$1,395,000
94
84
$2,222,500 $1,850,000
92
87
82
69
$1,300,000
79
12
9
5
5
6
8
13
9
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
69 19
66
13
Oct-20
42
27
Nov-20
24
Dec-20
Jan-21
Median Data Inventory
Solds
Sales Price
December
January
December
January
66
42
27
24
VARIANCE: -
36%
Sale Price Per SqFt. December
January
566
$
870 VARIANCE: 54 % $
VARIANCE: -
December
1.30m
$
11%
January
$
VARIANCE:
Sale to List Price Ratio December
January
2.22m 71%
Days on Market December
98.08%
99.06% VARIANCE: 1 %
January
51
42 VARIANCE: -18 %
Island of Hawaii Market Summary | January 2021 • The Island of Hawaii attached luxury market is a Seller's Market with a 57% Sales Ratio. • Homes sold for a median of 99.06% of list price in January 2021.
• The most active price bands are $1,400,000-$1,599,999 and $2,400,000-$2,699,999, where the sales ratio is 400%.
• The median luxury sales price for attached homes has increased to $2,222,500.
• The median days on market for January 2021 was 42 days, down from 51 in December 2020. Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
KAUAI
|
OAHU
|
MAUI
|
HAWAII ISLAND
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