KAUAI
|
OAHU
|
MAUI
|
HAWAII ISLAND
Luxury Market Report Hawaii, September 2021
About Corcoran Pacific Properties Corcoran Pacific Properties, the exclusive Hawaii franchisee of The Corcoran Group, is a locally owned and operated company, founded in 2005 with a simple philosophy: treating every client as a friend, and every transaction as if it was our own. Over the past 15+ years, honoring this philosophy, we established a culture of service and efficiency fueled by high-tech, smart investments in agents, and the tools they need to deliver world-class service while helping clients achieve their real estate goals. By choosing only the most successful, experienced real estate professionals and dedicating every resource to support their success, we’ve grown to be the brokerage of choice serving Kauai, Oahu, Maui and Hawaii Island. With our clients at the heart of our business, Corcoran Pacific Properties is dedicated to excellence, innovation and to continuously raising the bar when it comes to impeccable service, expert insight and a relationship-first approach.
©2020 Corcoran Pacific Properties. All rights reserved. Corcoran® and the Corcoran Logo are registered service marks owned by Corcoran Group LLC. Corcoran Pacific Properties fully supports the principles ofthe Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated.
At Corcoran Pacific Properties, we dream big. We know that luxury is not a price point, but an experience. Through our commitment to providing first-class support for our 250+ award-winning real estate professionals, we deliver a distinctive and authentic experience to our agents, employees and clients, helping people find the lifestyle they seek. Anton Steenman President & CEO
OAHU OFFICES Kahala Office
4211 Waialae Ave. Suite 106 Honolulu, HI 96816 (800) 315-3898
Kailua Office
419-B Kuulei Rd. Kailua, HI 96816 (800) 315-3898
MAUI OFFICES Wailea Office
34 Wailea Gateway Pl. Suite A-204 Kihei, HI 96753 (800) 315-3898
Mililani Office 95-1249 Meheula Parkway, Suite No. A-5 Mililani, HI 96789 (808) 589-2040
KAUAI OFFICES Lahaina Office
75 Kupuohi St. Suite 203 Lahaina, HI 96761 (800) 315-3898
Koloa Office
Princeville Office
Mauna Lani Portfolio
Waimea Office
3417 Poipu Rd. Suite 110B Koloa, HI 96756 (800) 315-3898
5-4280 Kuhio Hwy. Suite B-103 Princeville, HI 96722 (800) 315-3898
HAWAII ISLAND OFFICES Hilo Office
64 Keawe St. Suite 203 Hilo, HI 96720 (800) 315-3898
Kona Office
Walua Professional Bldg. 75-5905 Walua Rd. Suite 9 Kailua-Kona, HI 96740 (800) 315-3898
Mauna Lani Auberge Resort 68-1400 Mauna Lani Dr, Suite 108 Waimea, HI 96743 (800) 315-3898
65-1291 Kawaihae Rd. Suite 101 C Kamuela, HI 96743 (800) 315-3898
Table of Contents Page 5
Luxury Report Explained
Page 6
Welcome Message
Page 7-10
North American Luxury Market Review
Page 11
13-Month Market Trends
Page 12
Single-Family Homes Monthly Overview
Page 13
Attached Homes Monthly Overview
Page 23
Hawaii Luxury Market Review
Page 24
Kauai Market review
Page 29
Oahu Market Review
Page 34
Maui Market Review
Page 39
Island of Hawaii Market Review
Page 44
Thank You
Luxury Report Explained The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and 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 Future Trends Homeowners and Investors Should Consider Over the last few months, the luxury real estate market has experienced the return of a more normal pace of doing business for those looking to buy and sell their homes. Initial trends also indicate a moderation in the levels of sales and price increases. However, while the frenzy may have settled, it is important to note that prices are still trending upwards because an inventory shortage remains the dominating factor affecting current market dynamics. During the previous 18 months, an extraordinary demand from buyers prioritizing single-family homes with large square footage, extra rooms, outdoor space, and privacy above all else, had been the dominant trend. In the last 6 months, demand for attached properties, especially condos which stalled in 2020, started to see an uptick, as buyers realized that greater inventory levels and more reasonable pricing had opened the door of opportunity. As we move into the fall season, we review both new opportunities and trends that homeowners and investors should consider during their property search.
Return to Urban Living An increasing numbers of buyers are starting to return to the larger metropolitan cities for multiple reasons, whether it’s simply missing the lifestyle to looking for a potential investment opportunity. These buyers are recognizing that while city prices did not drop significantly, they did soften due to high inventory levels. Many local residents are seeing the chance to buy an urban property at comparatively discounted prices against the skyrocketing prices found in their suburban areas.
This door may close soon, as also in the mix are foreign investors (now that travel restrictions are easing) and first-time buyers who are heading to urban markets looking for the opportunity to purchase a larger property at more affordable prices. Experts are predicting that city markets may see stronger returns on investment than their suburban counterparts, which are already reporting a slowdown in the acceleration of their price increases.
Emerging City Neighborhoods While cities are starting to experience an influx of new and returning buyers, some of the best deals may be found in the emerging neighborhoods. Prior to the pandemic, many of these inner, mid-city communities and industrial areas had been on trend for gentrification. Cities from Vancouver and Toronto in Canada to Atlanta, Austin, Chicago and San Francisco in the US saw their emerging neighborhoods stall in 2020, as people chose to purchase away from the more crowded metropolitan communities. Today, emerging neighborhoods not only afford buyers better values, but also have the potential to create greater equity returns. These are ideal for buyers ready to invest in a property for the longer term; understanding that they are buying early and will need to wait for the neighborhood to evolve and mature.
Opportunity in Compromise In highly popular luxury markets with little to no inventory, compromise might be the only option. However, it could ultimately be the right one. Opting to purchase a condo or fixer-upper rather than a turnkey property may provide buyers other opportunities worth considering. Firstly, less popular properties come without the added pressure of feeling desperate to purchase sight unseen or enter into a bidding war. Secondly, the longer a property is on the market the more likely the seller will be open to negotiation. But more importantly, even for highly affluent buyers, getting a foothold in their preferred market despite the property not being ideal, allows them to keep up with price appreciation as well as giving them the advantage of purchasing the property they really want, once it comes on the market.
Home Field Advantage Two of the pandemic’s effects on the luxury real estate market have been the purchase of properties sight unseen and multiple-offer situations. Unfortunately, this has created a negative trend; where desperate buyers
have often felt the need to make extraordinary offers in order to secure the property, only to terminate the sale when the house proves not to meet their requirements. While there are usually back-up offers, this still impacts the seller’s timeline and budget, especially if they are already in negotiations for a new property that may be proving equally popular. This can give a local buyer the home field advantage, especially if there is a multiple-offer situation. Sellers are recognizing that local residents not only know the surrounding community and where they want to live, but given their proximity will have had the time to view the property prior to making an offer. A buyer who has seen the property in person and who is able to move quickly will almost always be more appealing to a seller.
New Priorities In 2020 and early 2021, the priority was to purchase larger homes offering more space, privacy and safety – and the value on fulfilling these requirements often superseded the cost factor. However as we enter into the latter part of 2021, and mainly as a result of the historic rise in property values over the last 12 months, many affluent are now starting to reprioritize their purchases with a keen eye on market stability and potential returns. Which trends will see better investment return; larger estate-sized homes, properties with views, or those located on expansive land or closer to amenities, are questions being asked of our luxury real estate professionals. The answer may lie in the reviewing the sales data for the last 6 months, which reveals that luxury mid-sized homes ranging from 5,000 to 10,000 square feet are proving to be in the greatest demand. While people want extra space, they do not want to be overwhelmed. Equally land and privacy are still important, but as things return to normal the shift back to living closer to amenities and locations closer to work may become the main priority for some once more.
Time to Diversify On the opposite side, the opportunity to work from home, or anywhere, will still play a significant part in the choices of the wealthy. Now that remote working is mainstream, there has been an increasing focus on investing in real estate that aligns with people’s lifestyle choices. Vacation and second home properties are expected to see a continued increase in popularity, especially for those who need escape options from their primary property. People are continuing to seek diversity in their lifestyle and owning multiple properties, whether they are in the city, mountains or beach locations, is an important facet in meeting that requirement. Demand is predicted to drive more development in resort and vacation markets, so properties in a wellestablished second markets will only see an upward pressure on their values.
Growth of Cryptocurrency Buying One of the hottest topics currently is the immense wealth being generated in the cryptocurrency market; despite its ups and downs! As a result, there has been an increase in the number of sellers and developers who are making their properties available to crypto-buyers. For holders of cryptocurrency, looking to diversify their portfolio, real estate’s stability and long-term growth potential is proving to be an asset of choice. The volatility of cryptocurrency has long been its biggest challenge for those looking to divest funds out of this digital currency. Equally, how sales are handled using cryptocurrency have not been standardized in the real estate industry yet, so working closely with a broker and an attorney in the negotiation and preparation of the contract is of the utmost importance. Ultimately as different options emerge, including borrowing against the value of crypto currency and the ability to do direct trades within this digital world, we can be assured that crypto-buyers who have generated immense wealth are going to have a major influence on the luxury real estate market. 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
33
32
Days on Market
32
30
34
37 33
33
31
29
29
35
36
30
19 20
21
11 16
10 10 13
11
15
12
0 AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
12 15
JUL
AUG
$540
$539
$423
$428
$424
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
$424
$413
$442
$524
$520
$414
$499
$405
$487
$509
$394
$499
$501 $404
$399
$391
$300
$473
$474
$494 $400
$388
Price per Square Foot
$500
$500
$600
$200
$100
$0 JUL
AUG
SEP
JUN
JUL
$2,100,000
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 AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
Discrepancies in previous month statistics between the August 2021 and September 2021 reports are due to the addition of Marco Island, FL.
AUG
Luxury Monthly Market Review A Review of Key Market Differences Year over Year August 2020 | August 2021
Single-Family Homes Median List Price
Median Sale Price
August 2021
$1,699,250
$1,884,750
97.67%
100.00%
$1,476,250
Median SP/LP Ratio Total Sales Ratio
August 2020
Median Price per Sq. Ft.
30.01% $382
$1,408,750
58.42% $439
August 2020 August 2021
Total Inventory
42,716
30,684
Total Sold
12,821
17,926
New Listings
12,524
Median Days on Market
32
Average Home Size
11,000
3,739
12
3,406
Median prices represent properties priced above respective city benchmark prices.
1,524
5,105
New Listings
Total Sold
20
28.41%
Med. Sale Price
Days on Market
Sales Ratio
67,500
$
Single-Family Homes Market Summary | August 2021 •
Official Market Type: Seller's Market with a 58.42% 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 $1,408,750.
•
Markets with the Highest Median Sales Price: Los Angeles Beach Cities ($3,663,125), Los Angeles City ($3,600,000), Vail ($3,500,000), and Palm Beach Towns ($3,300,000).
•
Markets with the Highest Sales Ratio: Lake Tahoe, NV (160%), East Bay (137%), Lake Tahoe, CA (82%) and Sacramento (82%). Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from
1
previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.
Luxury Monthly Market Review A Review of Key Market Differences Year over Year August 2020 | August 2021
Attached Homes
Median List Price
Median Sale Price
August 2021
$991,500
$1,130,235
98.40%
100.00%
$896,228
Median SP/LP Ratio Total Sales Ratio
August 2020
Median Price per Sq. Ft.
18.61% $474
$900,000 40.82% $535
August 2020 August 2021
Total Inventory New Listings
17,803
11,624
3,314
4,745
5,328
Total Sold
Median Days on Market
29
Average Home Size
2,048
3,887 15
1,971
Median prices represent properties priced above respective city benchmark prices.
1,441 New Listings
1,431 Total Sold
Med. Sale Price
Days on Market
3,713
$
14
22.21% Sales Ratio
Attached Homes Market Summary | August 2021 •
Official Market Type: Seller's Market with a 40.82% Sales Ratio.1
•
Attached homes are selling for an average of 100.00% of list price.
•
The median luxury threshold2 price is $721,250, and the median attached luxury sale price is $900,000.
•
Markets with the Highest Median Sales Price: Vail ($2,650,000), San Francisco ($2,421,500), Maui ($2,205,000), and Naples ($2,030,000).
•
Markets with the Highest Sales Ratio: Victoria (141%), GTA-Durham (132%), East Bay (101%) and Ocean County (100%). Sales Ratio defines market speed and market type: Buyer's < 15.5%; Balanced >= 15.5 to < 20.5%; Seller's >= 20.5% plus. If >100%, sales from
1
previous month exceeds current inventory. 2The luxury threshold price is set by The Institute for Luxury Home Marketing.
Luxury Monthly Market Review Single-Family Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
AB
Calgary
$1,195,000
$1,024,500
647
204
96
37
Buyer's
AZ
Paradise Valley
$3,350,000
$2,337,500
175
36
20
137
Buyer's
AZ
Phoenix
$945,000
$725,000
355
158
173
49
Seller's
AZ
Scottsdale
$1,995,000
$1,472,500
511
152
128
88
Seller's
AZ
Tucson
$795,000
$645,000
498
135
165
24
Seller's
BC
Okanagan Valley
$1,790,000
$1,752,500
428
91
54
76
Buyer's
BC
Vancouver
$4,190,000
$3,285,000
992
313
86
23
Buyer's
BC
Victoria
$2,499,000
$1,887,500
122
46
28
23
Seller's
CA
Central Coast
$3,200,000
$2,650,000
249
56
26
6
Buyer's
CA
East Bay
$2,498,500
$1,860,000
242
125
331
9
Seller's
CA
Greater Palm Springs
$1,899,000
$1,700,000
306
91
100
70
Seller's
CA
Lake Tahoe
$2,247,500
$1,860,000
112
52
92
21
Seller's
CA
Los Angeles Beach Cities
$5,274,500
$3,663,125
460
145
104
40
Seller's
CA
Los Angeles City
$4,995,000
$3,600,000
943
290
101
28
Buyer's
CA
Los Angeles The Valley
$2,599,475
$2,000,000
454
170
189
20
Seller's
CA
Marin County
$4,199,000
$3,085,000
129
34
73
39
Seller's
CA
Napa County
$3,725,000
$2,265,000
140
19
27
78
Balanced
CA
Orange County
$2,998,000
$2,293,500
987
301
352
39
Seller's
CA
Placer County
$1,149,857
$1,044,500
142
60
82
22
Seller's
CA
Sacramento
$1,040,000
$930,000
315
139
257
15
Seller's
CA
San Diego
$2,857,500
$1,812,500
746
270
318
28
Seller's
CA
San Francisco
$3,995,000
$3,300,000
125
22
43
24
Seller's
CA
San Luis Obispo County
$1,699,500
$1,899,950
159
35
6
N/A
Buyer's
CA
Santa Barbara
$4,175,000
$2,700,000
253
68
61
20
Seller's
CA
Silicon Valley
$4,384,000
$3,210,000
268
120
166
11
Seller's
CA
Sonoma County
$1,699,000
$1,700,000
145
37
59
41
Seller's
CA
Ventura County
$2,490,000
$1,699,000
253
73
82
44
Seller's
CO
Boulder
$2,158,000
$1,550,000
195
47
77
51
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
Colorado Springs
$997,000
$850,000
202
52
101
25
Seller's
CO
Denver
$1,635,000
$1,306,432
511
166
205
18
Seller's
CO
Douglas County
$1,395,000
$1,150,000
207
51
83
23
Seller's
CO
Durango
$1,499,000
$1,075,000
96
10
22
90
Seller's
CO
Summit County
$1,995,000
$1,637,500
26
8
12
53
Seller's
CO
Vail
$6,775,000
$3,500,000
76
17
15
49
Balanced
CT
Central
$649,900
$582,500
417
99
143
24
Seller's
CT
Coastal Connecticut
$2,137,000
$1,562,625
1,048
219
326
70
Seller's
DC
Washington D.C.
$3,395,000
$2,900,000
61
12
13
61
Seller's
DE
Sussex County Coastal
$1,499,000
$1,550,000
187
44
52
74
Seller's
FL
Boca Raton/Delray Beach
$2,525,000
$1,794,950
434
87
58
86
Buyer's
FL
Greater Fort Lauderdale
$1,499,950
$1,042,450
1,110
220
194
57
Balanced
FL
Jacksonville Beaches
$1,345,000
$1,175,000
225
53
67
48
Seller's
FL
Lee County
$1,697,000
$1,280,000
462
70
56
146
Buyer's
FL
Marco Island
$2,425,000
$2,045,000
74
12
10
143
Buyer's
FL
Miami
$1,992,500
$1,512,500
864
170
82
152
Buyer's
FL
Naples
$3,599,900
$3,257,000
367
46
52
114
Buyer's
FL
Orlando
$1,303,856
$1,077,500
593
128
90
43
Balanced
FL
Palm Beach Towns
$3,850,000
$3,300,000
251
34
45
132
Balanced
FL
Pinellas County West
$1,990,000
$1,801,000
81
20
21
47
Seller's
FL
Sarasota & Beaches
$1,995,000
$1,955,000
263
54
72
69
Seller's
FL
South Pinellas County
$1,250,000
$1,250,000
185
51
53
48
Seller's
FL
South Walton
$2,149,000
$1,812,500
231
54
54
82
Seller's
FL
Tampa
$849,000
$677,250
571
165
276
26
Seller's
FL
Weston
$995,000
$850,000
94
16
17
34
Balanced
GA
Atlanta
$1,400,000
$1,125,000
862
263
195
29
Seller's
HI
Island of Hawaii
$2,547,500
$1,600,000
130
29
18
31
Buyer's
HI
Kauai
$2,699,000
$1,941,000
91
21
12
14
Buyer'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
HI
Maui
$3,300,000
$2,275,000
161
35
21
190
Buyer's
HI
Oahu
$2,987,500
$2,360,000
234
39
30
75
Buyer's
ID
Ada County
$725,000
$689,900
361
157
176
12
Seller's
ID
Northern
$1,050,000
$895,000
237
84
119
66
Seller's
IL
Chicago
$1,399,999
$1,135,000
1,207
448
431
61
Seller's
IL
DuPage County
$1,099,000
$930,000
515
145
155
81
Seller's
IL
Lake County
$999,999
$871,500
531
159
109
75
Balanced
IL
Will County
$690,000
$582,500
229
67
94
41
Seller's
IN
Hamilton County
$865,000
$725,000
157
41
83
18
Seller's
MA
Greater Boston
$3,395,000
$2,350,008
133
30
41
35
Seller's
MD
Anne Arundel County
$1,150,000
$952,500
225
56
100
26
Seller's
MD
Montgomery County
$1,896,500
$1,585,000
222
70
99
17
Seller's
MD
Talbot County
$2,450,000
$1,747,500
59
16
20
62
Seller's
MD
Worcester County
$1,262,500
$815,500
44
10
10
46
Seller's
MI
Livingston County
$742,000
$690,000
87
22
30
23
Seller's
MI
Monroe County
$584,900
$622,500
13
3
2
8
Balanced
MI
Oakland County
$775,000
$636,500
797
287
292
32
Seller's
MI
Washtenaw County
$799,900
$725,000
169
38
47
26
Seller's
MI
Wayne County
$695,000
$594,500
285
78
102
27
Seller's
MO
Kansas City
$665,000
$634,975
859
207
294
33
Seller's
MO
St. Louis
$755,000
$696,000
162
51
72
40
Seller's
NC
Charlotte
$1,197,000
$1,000,000
538
140
257
20
Seller's
NC
Raleigh-Durham
$995,000
$883,500
379
72
134
9
Seller's
NJ
Ocean County
$1,110,000
$849,000
712
254
295
15
Seller's
NV
Lake Tahoe
$4,662,500
$2,925,000
30
12
48
84
Seller's
NV
Las Vegas
$854,450
$720,000
1,262
384
330
40
Seller's
NV
Reno
$1,997,500
$1,298,000
52
15
23
91
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
NY
Brooklyn
$1,669,000
$1,672,500
291
66
4
232
Buyer's
NY
Nassau County
$1,789,999
$1,545,000
1,079
233
117
81
Buyer's
NY
Suffolk County
$1,750,000
$1,202,500
1,118
265
80
99
Buyer's
ON
GTA - Durham
$1,600,000
$1,260,000
213
135
112
16
Seller's
ON
GTA - York
$2,387,000
$1,800,000
737
399
176
20
Seller's
ON
Oakville
$2,498,000
$2,395,000
318
107
45
22
Buyer's
ON
Toronto
$3,577,500
$3,250,000
450
257
122
16
Seller's
ON
Waterloo Region
$1,465,000
$1,330,000
97
39
17
26
Balanced
OR
Portland
$1,225,000
$1,100,000
549
182
171
18
Seller's
QC
Montreal
$1,775,000
$1,702,500
89
32
18
21
Balanced
TN
Nashville
$1,387,450
$1,300,000
494
152
171
10
Seller's
TX
Austin
$1,345,000
$988,500
479
175
304
16
Seller's
TX
Collin County
$750,000
$682,000
547
165
279
29
Seller's
TX
Dallas
$1,299,000
$1,075,000
555
157
148
32
Seller's
TX
Denton County
$737,900
$713,500
509
138
197
23
Seller's
TX
Fort Worth
$899,000
$800,000
630
166
261
23
Seller's
TX
Houston
$975,000
$911,250
1,780
497
274
25
Balanced
TX
San Antonio
$839,000
$735,000
424
96
83
55
Balanced
TX
The Woodlands & Spring
$976,650
$746,250
350
98
98
25
Seller's
UT
Park City
$3,495,000
$2,800,000
200
40
64
50
Seller's
UT
Salt Lake City
$1,249,000
$950,000
268
99
91
57
Seller's
VA
Arlington & Alexandria
$1,891,000
$1,640,000
92
26
35
10
Seller's
VA
Fairfax County
$1,795,000
$1,480,000
456
129
131
20
Seller's
VA
McLean & Vienna
$2,359,000
$1,685,000
213
58
55
21
Seller's
VA
Richmond
$895,000
$789,000
209
57
107
19
Seller's
WA
Greater Seattle
$1,999,250
$1,562,000
632
272
473
8
Seller's
WA
Seattle
$1,995,900
$1,650,000
207
104
134
7
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
$788,000
$705,000
161
40
11
87
Buyer's
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$899,000
$810,000
164
41
35
121
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,980,000
$1,675,350
745
294
98
22
Buyer's
BC
Victoria
$849,000
$859,900
29
24
41
35
Seller's
CA
Central Coast
$1,250,000
$1,250,000
32
7
5
13
Balanced
CA
East Bay
$998,000
$965,000
82
46
83
12
Seller's
CA
Greater Palm Springs
-
-
-
-
-
-
-
CA
Lake Tahoe
$1,207,500
$1,250,000
38
12
21
42
Seller's
CA
Los Angeles Beach Cities
$1,897,000
$1,600,000
234
83
51
19
Seller's
CA
Los Angeles City
$1,695,000
$1,400,000
451
158
53
30
Buyer's
CA
Los Angeles The Valley
$829,000
$758,950
93
43
40
12
Seller's
CA
Marin County
$1,475,000
$1,055,000
17
6
15
32
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,199,999
$1,030,000
586
224
107
28
Balanced
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,295,000
$1,082,500
428
172
142
34
Seller's
CA
San Francisco
$2,695,000
$2,421,500
193
42
27
20
Buyer's
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Santa Barbara
$1,797,500
$1,525,000
38
7
9
21
Seller's
CA
Silicon Valley
$1,604,000
$1,565,000
91
43
47
8
Seller's
CA
Sonoma County
$732,000
$720,000
14
4
3
25
Seller's
CA
Ventura County
$812,000
$754,000
40
15
26
32
Seller's
CO
Boulder
$882,000
$785,000
87
29
27
52
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
-
-
-
-
-
-
-
Denver
$868,800
$885,000
412
122
101
12
Seller's
CO
Douglas County
$564,900
$570,000
15
8
13
4
Seller's
CO
Durango
$775,000
$720,000
20
3
7
120
Seller's
CO
Summit County
$985,000
$1,125,000
8
3
4
18
Seller's
CO
Vail
$3,495,000
$2,650,000
116
32
11
126
Buyer's
CT
Central
-
-
-
-
-
-
-
CT
Coastal Connecticut
$869,500
$720,000
222
62
55
74
Seller's
DC
Washington D.C.
$1,895,000
$1,500,000
213
66
55
8
Seller's
DE
Sussex County Coastal
$1,049,999
$875,000
41
11
9
14
Seller's
FL
Boca Raton/Delray Beach
$1,075,000
$672,500
445
69
36
61
Buyer's
FL
Greater Fort Lauderdale
$869,000
$705,000
1,281
205
60
143
Buyer's
FL
Jacksonville Beaches
$1,199,444
$940,000
29
10
19
34
Seller's
FL
Lee County
$877,000
$805,000
310
33
31
40
Buyer's
FL
Marco Island
$1,495,000
$1,352,500
47
7
4
78
Buyer's
FL
Miami
$1,350,000
$1,050,000
1,917
195
43
347
Buyer's
FL
Naples
$1,650,000
$2,030,000
373
100
116
3
Seller's
FL
Orlando
$660,750
$733,000
72
10
8
71
Buyer's
FL
Palm Beach Towns
$1,689,000
$1,355,000
319
45
29
127
Buyer's
FL
Pinellas County West
$1,300,000
$1,331,250
203
51
56
39
Seller's
FL
Sarasota & Beaches
$1,650,000
$1,320,000
177
23
26
89
Buyer's
FL
South Pinellas County
$939,000
$942,500
129
35
40
49
Seller's
FL
South Walton
$1,250,000
$1,145,000
181
90
24
6
Buyer's
FL
Tampa
$726,450
$669,990
138
37
43
16
Seller's
FL
Weston
-
-
-
-
-
-
-
GA
Atlanta
$664,900
$607,500
647
220
100
29
Balanced
HI
Island of Hawaii
$1,795,000
$1,950,000
89
15
11
45
Buyer's
HI
Kauai
$1,537,500
$1,029,000
72
11
1
0
Buyer's
State
Market Name
CO
Colorado Springs
CO
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
HI
Maui
$1,864,500
$2,205,000
140
38
31
408
Seller's
HI
Oahu
$1,155,000
$879,000
480
85
39
40
Buyer's
ID
Ada County
$579,900
$555,900
35
16
9
20
Seller's
ID
Northern
-
-
-
-
-
-
-
IL
Chicago
$1,140,000
$897,000
1,134
380
162
70
Buyer's
IL
DuPage County
$731,700
$675,000
54
23
15
27
Seller's
IL
Lake County
-
-
-
-
-
-
-
IL
Will County
-
-
-
-
-
-
-
IN
Hamilton County
-
-
-
-
-
-
-
MA
Greater Boston
$2,295,000
$1,850,000
334
84
57
25
Balanced
MD
Anne Arundel County
$712,250
$565,000
38
17
28
14
Seller's
MD
Montgomery County
$899,000
$750,000
130
38
67
8
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$749,890
$610,000
55
19
27
54
Seller's
MI
Livingston County
-
-
-
-
-
-
-
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$888,899
$596,250
56
25
20
23
Seller's
MI
Washtenaw County
$623,500
$520,000
38
8
3
12
Buyer's
MI
Wayne County
$641,950
$551,442
70
18
8
29
Buyer's
MO
Kansas City
-
-
-
-
-
-
-
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$729,450
$552,768
218
60
38
23
Balanced
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$579,900
$585,000
9
3
9
11
Seller's
NV
Lake Tahoe
$1,420,000
$1,237,500
8
5
4
104
Seller's
NV
Las Vegas
-
-
-
-
-
-
-
NV
Reno
-
-
-
-
-
-
-
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
Brooklyn
$1,349,000
$1,325,000
573
157
31
190
Buyer's
NY
Nassau County
$1,360,407
$1,175,000
145
25
15
210
Buyer's
NY
Suffolk County
$775,000
$610,000
167
38
25
37
Buyer's
ON
GTA - Durham
$829,990
$730,200
25
25
33
8
Seller's
ON
GTA - York
$874,500
$864,444
374
355
238
10
Seller's
ON
Oakville
$1,399,000
$1,145,000
55
23
5
20
Buyer's
ON
Toronto
$1,244,900
$1,144,500
903
627
262
11
Seller's
ON
Waterloo Region
$794,900
$772,000
17
4
3
13
Balanced
OR
Portland
-
-
-
-
-
-
-
QC
Montreal
$883,500
$951,000
20
12
19
38
Seller's
TN
Nashville
$679,950
$660,000
82
26
13
21
Balanced
TX
Austin
$899,900
$685,000
241
58
32
19
Buyer's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$769,000
$618,050
251
46
26
40
Buyer's
TX
Denton County
-
-
-
-
-
-
-
TX
Fort Worth
-
-
-
-
-
-
-
TX
Houston
$649,900
$620,000
191
53
19
42
Buyer's
TX
San Antonio
$659,000
$1,110,000
47
9
1
53
Buyer's
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$2,297,500
$1,824,500
130
26
26
32
Balanced
UT
Salt Lake City
$768,400
$599,200
83
16
18
42
Seller's
VA
Arlington & Alexandria
$1,189,500
$979,600
98
38
62
8
Seller's
VA
Fairfax County
$775,000
$663,000
147
62
114
6
Seller's
VA
McLean & Vienna
$1,199,495
$895,575
38
10
6
12
Balanced
VA
Richmond
-
-
-
-
-
-
-
WA
Greater Seattle
$1,238,800
$998,820
267
98
81
12
Seller's
WA
Seattle
$1,475,000
$1,111,000
151
48
25
12
Balanced
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury 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 August 2021. The biggest question on most potential buyer and seller’s minds is how long will this fast paced, high demand seller’s market last? Given that inventory levels are still trending down month over month, although at a slower trajectory, and properties are on average selling close to their asking price, it would appear that Hawaii’s luxury real estate market is still in high demand. The fact that the number of sales and median price points have remained fairly stable over the last few months is probably due to the lack of available new inventory for people to purchase, rather than any indication of a downturn in the market. One of the most significant trends, predicted for this fall, is for a continued increase in demand for luxury properties in popular vacation and resort style locations, made all the more possible now that working remotely plays such a major role in the way the affluent conduct their everyday business. There has been increasing focus to invest in locations that complement lifestyle choices, and the Hawaiian Islands feature at the very top of this list as a perfect location for a second home. In addition, as we reported last month, tourists currently vacationing throughout the islands also continue to fuel the purchase of luxury real estate. In particular, vacation investment properties have seen a significant surge in demand, a segment which this time last year saw very little activity. Although the islands, and their individual luxury real estate markets, are currently in a seller’s market, with sellers and buyers still receiving multiple offers on their properties, economists do not consider this to be a bubble market. Paul Brewbaker, a Hawaiian Economist, calls the last 15 months a mini bubble – reasoning that because price appreciation happened steadily over 12 months, to be followed by a tapering off during the last few months, this is instead a resetting of price points. He foresees a high probability that price appreciation will begin to settle back to pre-covid annual rates of 4-5%.* As always, a real estate expert familiar with local trends is the best resource to navigate a specific market. *https://www.hawaiipublicradio.org/the-conversation/2021-08-17/local-economist-shares-thoughts-hot-housing-market
September
2021
Kauai Hawaii
KAUAI
Single-Family Homes
Luxury Inventory vs. Sales | August 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,200,000 $6,000,000+ $5,400,000 - $5,999,999 $4,900,000 - $5,399,999
0
$3,900,000 - $4,399,999
$3,000,000 - $3,399,999
2
0
$4,400,000 - $4,899,999
$3,400,000 - $3,899,999
11
1
Total Inventory:
1
Total Sales: 16
1 1
Seller's Market
2
0
6
2
$2,200,000 - $2,599,999
5
2
$1,800,000 - $2,199,999
4
2
$1,600,000 - $1,799,999
$1,400,000 - $1,499,999 $1,300,000 - $1,399,999 $1,200,000 - $1,299,999
1
10
5
0 0
28%
4
0
$2,600,000 - $2,999,999
$1,500,000 - $1,599,999
Total Sales Ratio2:
4
1
57
1 1 4
0 1
2
Beds3
Price
DOM
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0-1 Bedrooms
NA
NA
NA
0
0
NA
2 Bedrooms
$1,799,000
166
3
3
10
30%
3 Bedrooms
$2,450,000
89
3
7
16
44%
4 Bedrooms
$1,950,000
43
4
5
17
29%
5 Bedrooms
$1,750,000
9
3
1
10
10%
6+ Bedrooms
NA
NA
NA
0
4
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
$1,941,000
$1,875,000
$2,187,500
$2,022,500
Inventory
Solds
$2,375,000
$2,212,500
$2,154,750 $1,899,500
$1,839,500
$1,935,000
$1,862,500
$2,030,000
$1,515,000 110
104
91
12
9
Aug-20
Sep-20
107
18 Oct-20
101
91
15
14
Nov-20
Dec-20
89
84
20
22
14
Jan-21
85
Feb-21
Mar-21
73
18 Apr-21
56
May-21
57
55 30
24
20
Jun-21
16
Jul-21
Aug-21
Median Data Review | August Total Inventory Aug. 2020
Total Solds
Aug. 2021
Aug. 2020
16 VARIANCE: 33 %
57 VARIANCE: -37 % Sale Price Per SqFt. Aug. 2020
$
1,256
Aug. 2020
$
1.94m
Aug. 2020
1,074 VARIANCE: -14 %
Aug. 2021
$
Days on Market Aug. 2020
95.65%
97.50% VARIANCE: 2 %
14
Aug. 2021
59 VARIANCE: 321 %
Kauai Market Summary | August 2021 • The Kauai single-family luxury market is a Seller's Market with a 28% Sales Ratio. • Homes sold for a median of 97.50% of list price in August 2021.
• The most active price band is $1,200,000-$1,299,999, where the sales ratio is 200%. • The median luxury sales price for single-family homes is $2,030,000.
• The median days on market for August 2021 was 59 days, up from 14 in August 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
Aug. 2021
2.03m VARIANCE: 5 %
Sale to List Price Ratio
Aug. 2021
$
Aug. 2021
12
91
Sales Price
KAUAI
Attached Homes
KAUAI
Luxury Inventory vs. Sales | August 2021 Inventory
Attached Homes
Sales
Luxury Benchmark Price 1: $950,000 $5,000,000+ $4,500,000 - $4,999,999 $4,000,000 - $4,499,999
$3,600,000 - $3,999,999
Total Sales: 13
1
0
0
Total Sales Ratio2:
46%
2
0
5
1 2 2
$2,800,000 - $3,199,999 1
0
1 1
$2,100,000 - $2,399,999
$1,800,000 - $2,099,999
4
1
$1,600,000 - $1,799,999
3
1
1
$1,400,000 - $1,599,999
1
Seller's Market
3
$3,200,000 - $3,599,999
$2,400,000 - $2,799,999
28
Total Inventory:
3
0
$1,200,000 - $1,399,999
1 1
$1,100,000 - $1,199,999
1 1
$1,000,000 - $1,099,999
0
$950,000 - $999,999
0
3
1 1
Beds3
Price
DOM
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0-1 Bedrooms
NA
NA
NA
0
0
NA
2 Bedrooms
$1,150,000
97
2
3
6
50%
3 Bedrooms
$1,980,000
24
3
7
10
70%
4 Bedrooms
$2,300,000
50
3
2
8
25%
5 Bedrooms
$1,450,000
22
4
1
4
25%
6+ Bedrooms
NA
NA
NA
0
0
NA
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
KAUAI
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
Solds
$1,565,000 $1,400,000 $1,029,000
72
$1,100,000
$1,150,000
$1,080,000
70
70
$1,395,000
$1,299,000
69
67
1
3
4
7
Aug-20
Sep-20
Oct-20
Nov-20
59
6 Dec-20
55
44
39
13
14
13
Feb-21
Mar-21
Apr-21
11 Jan-21
$1,199,000
$1,189,125
55
$1,282,500
$1,375,000
35
25
28
20
May-21
Jun-21
$1,495,000
28
20
13
Jul-21
Aug-21
Median Data Review | August Total Inventory Aug. 2020
Aug. 2021
72
Aug. 2020
13 VARIANCE: 1200 %
Sale Price Per SqFt.
Sale to List Price Ratio
Aug. 2021
642
896 VARIANCE: 40 % $
1
Aug. 2020
Sales Price
Aug. 2021
28 VARIANCE: -61 % Aug. 2020
$
Total Solds
Aug. 2020
$
Aug. 2021
100.00%
96.23% VARIANCE: -4 %
1.03m
1.50m VARIANCE: 45 % $
Days on Market Aug. 2020
0
Aug. 2021
24 VARIANCE: N/A
Kauai Market Summary | August 2021 • The Kauai attached luxury market is a Seller's Market with a 46% Sales Ratio. • Homes sold for a median of 96.23% of list price in August 2021.
• The most active price band is $1,400,000-$1,599,999, where the sales ratio is 300%. • The median luxury sales price for attached homes is $1,495,000.
• The median days on market for August 2021 was 24 days, up from 0 in August 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
Aug. 2021
September
2021
Oahu Hawaii
OAHU
Single-Family Homes
Luxury Inventory vs. Sales | August 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,750,000 $9,500,000+ $8,500,000 - $9,499,999
$5,500,000 - $6,499,999 $4,700,000 - $5,499,999
4
1
Seller's Market
6 19
1
Total Sales Ratio2:
38%
9
1
8
3
$3,500,000 - $4,099,999
12
4 11
2
$2,700,000 - $3,099,999
22
7
$2,300,000 - $2,699,999
16
11 8
$2,100,000 - $2,299,999
$1,900,000 - $2,099,999
10 11
5
$1,800,000 - $1,899,999
11
7 9
$1,750,000 - $1,799,999
1
174
Total Sales: 66
1
$4,100,000 - $4,699,999
$3,100,000 - $3,499,999
Total Inventory:
2 2
$7,500,000 - $8,499,999
$6,500,000 - $7,499,999
26
1
10
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$2,100,000
4
3
25
39
64%
3,000 - 3,999
$2,340,000
4
4
26
36
72%
4,000 - 4,999
$2,245,000
4
4
6
25
24%
5,000 - 5,999
$3,750,000
4
5
3
25
12%
6,000 - 6,999
$4,750,000
5
7
3
10
30%
7,000+
$8,500,000
5
7
3
38
8%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
OAHU
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
$2,360,000
$2,450,000 $2,034,000
234
232
229
30
35
Aug-20
Sep-20
$2,253,750
224
32 Oct-20
$2,200,000
208
28 Nov-20
$2,365,000
Inventory
$2,650,000 $2,250,000
174 50
Dec-20
172
29 Jan-21
Solds
$2,430,000
170
$2,527,500
$2,270,000
169
168
$2,552,500
178
150
40
49
49
60
Feb-21
Mar-21
Apr-21
May-21
$2,340,000
67
174 66
56
Jun-21
Jul-21
Aug-21
Median Data Review | August Total Inventory Aug. 2020
Aug. 2021
234
Aug. 2020
66 VARIANCE: 120 %
Sale Price Per SqFt.
Sale to List Price Ratio
Aug. 2021
638
740 VARIANCE: 16 % $
30
Aug. 2020
Sales Price
Aug. 2021
174 VARIANCE: -26 %
Aug. 2020
$
Total Solds
Aug. 2020
$
Aug. 2021
2.36m
2.34m VARIANCE: -1 % $
Days on Market Aug. 2020
94.67%
100.00% VARIANCE: 6 %
75
Aug. 2021
14 VARIANCE: -81 %
Oahu Market Summary | August 2021 • The Oahu single-family luxury market is a Seller's Market with a 38% Sales Ratio. • Homes sold for a median of 100.00% of list price in August 2021.
• The most active price band is $2,100,000-$2,299,999, where the sales ratio is 125%. • The median luxury sales price for single-family homes is $2,340,000.
• The median days on market for August 2021 was 14 days, down from 75 in August 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
Aug. 2021
OAHU
Attached Homes
Luxury Inventory vs. Sales | August 2021 Inventory
Sales
Luxury Benchmark Price 1: $750,000 $7,000,000+ $6,000,000 - $6,999,999
8
0
7
0
$5,200,000 - $5,999,999
2
$4,400,000 - $5,199,999 $3,800,000 - $4,399,999
4
Total Sales: 146 Seller's Market
12
1
Total Sales Ratio2:
14
0
$2,600,000 - $3,199,999
6
9 30
1
$1,800,000 - $2,199,999
25
6
$1,500,000 - $1,799,999
22
6
$1,200,000 - $1,499,999
30
21
$1,000,000 - $1,199,999
27
15
$900,000 - $999,999
23
26
$800,000 - $899,999
30
34
29 29
$750,000 - $799,999
1
52%
6 6
$3,200,000 - $3,799,999
$2,200,000 - $2,599,999
283
Total Inventory:
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$835,000
2
2
26
85
31%
1,000 - 1,499
$975,000
2
2
67
91
74%
1,500 - 1,999
$955,000
3
2
29
44
66%
2,000 - 2,499
$1,905,000
3
3
17
30
57%
2,500 - 2,999
$1,400,000
3
3
5
12
42%
3,000+
$3,732,500
3
3
2
21
10%
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
$990,000 $879,000
480
$860,000
467
465
39
45
Aug-20
Sep-20
$918,888
453
44 Oct-20
$890,000
394
41
55
Nov-20
Dec-20
Inventory
$875,000
$903,500
345
360
44 Jan-21
$970,000
338
76
87
Feb-21
Mar-21
Solds
$949,000
$981,500
324
301
83 Apr-21
$960,000
146
125
121
May-21
283
278
273 88
$955,000
$875,000
Jun-21
Jul-21
Aug-21
Median Data Review | August Total Inventory Aug. 2020
Aug. 2021
480
Aug. 2020
Aug. 2021
283 VARIANCE: -41 %
146 VARIANCE: 274 %
Sale Price Per SqFt.
Sale to List Price Ratio
Aug. 2020
$
Total Solds
Aug. 2021
704
820 VARIANCE: 16 % $
39
Aug. 2020
Aug. 2021
Sales Price Aug. 2020
879k
$
955k VARIANCE: 9 % $
Days on Market Aug. 2020
99.47%
100.00% VARIANCE: 1 %
40
Aug. 2021
11 VARIANCE: -73 %
Oahu Market Summary | August 2021 • The Oahu attached luxury market is a Seller's Market with a 52% Sales Ratio. • Homes sold for a median of 100.00% of list price in August 2021.
• The most active price band is $750,000-$799,999, where the sales ratio is 100%. • The median luxury sales price for attached homes is $955,000.
• The median days on market for August 2021 was 11 days, down from 40 in August 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
Aug. 2021
September
2021
Maui Hawaii
MAUI
Single-Family Homes
Luxury Inventory vs. Sales | August 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,500,000 $12,000,000+ $9,900,000 - $11,999,999
9
2
5
0
$7,900,000 - $9,899,999
10
1
$5,900,000 - $7,899,999
9
2
$4,900,000 - $5,899,999
6
2
$3,900,000 - $4,899,999
9
1
$3,400,000 - $3,899,999
8
4
$2,900,000 - $3,399,999
10
1
$2,400,000 - $2,899,999 $2,200,000 - $2,399,999
2
1
3
$2,000,000 - $2,199,999 $1,800,000 - $1,999,999
$1,700,000 - $1,799,999 $1,600,000 - $1,699,999
4 11
2
Total Inventory:
2
0
103
Total Sales: 30
3
1
$1,500,000 - $1,599,999
1
10
6
Seller's Market
6
3
Total Sales Ratio2:
29%
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$1,962,500
3
2
6
27
22%
2,000 - 2,999
$1,915,000
3
3
4
21
19%
3,000 - 3,999
$2,862,500
3
4
10
21
48%
4,000 - 4,999
$3,550,000
4
4
7
18
39%
5,000 - 5,999
$7,665,000
5
7
2
5
40%
6,000+
$5,000,000
5
6
1
11
9%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
MAUI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$3,550,000
$2,775,000 $2,275,000
$2,149,000
$2,100,000
172
161
21
14
Aug-20
Sep-20
18 Oct-20
$2,412,500
$2,262,500 179
170
$2,600,000
155
129
26
26
Nov-20
Dec-20
125
24 Jan-21
116
$2,495,000
$2,680,000
$2,874,500
$2,575,000
$2,332,500
116
118
103
29
35
43
34
Feb-21
Mar-21
Apr-21
May-21
112
103 40
39
Jun-21
30
Jul-21
Aug-21
Median Data Review | August Total Inventory Aug. 2020
Aug. 2021
161
103 VARIANCE: -36 % Sale Price Per SqFt.
Aug. 2020
$
Aug. 2021
965
859 VARIANCE: -11 % $
Total Solds Aug. 2020
Sales Price
Aug. 2021
21
30 VARIANCE: 43 %
Aug. 2020
$
2.28m
2.58m VARIANCE: 13 %
Sale to List Price Ratio Aug. 2020
Aug. 2021
$
Days on Market Aug. 2020
97.49%
99.14% VARIANCE: 2 %
190
Aug. 2021
83 VARIANCE: -56 %
Maui Market Summary | August 2021 • The Maui single-family luxury market is a Seller's Market with a 29% Sales Ratio. • Homes sold for a median of 99.14% of list price in August 2021.
• The most active price band is $2,000,000-$2,199,999, where the sales ratio is 133%. • The median luxury sales price for single-family homes is $2,575,000.
• The median days on market for August 2021 was 83 days, down from 190 in August 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
Aug. 2021
MAUI
Attached Homes
Luxury Inventory vs. Sales | August 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,200,000 $4,500,000+
4
2
4 4
$3,600,000 - $4,499,999 $3,100,000 - $3,599,999
2
$2,600,000 - $3,099,999 $2,400,000 - $2,599,999
0
Seller's Market
$1,800,000 - $1,899,999
1 1
144%
Total Sales Ratio2:
0
3
2
$1,600,000 - $1,699,999
6
2 2
$1,500,000 - $1,599,999 1
$1,400,000 - $1,499,999
4
0
3
$1,200,000 - $1,299,999
1
Total Sales: 36
2
0 0 1 1
$1,300,000 - $1,399,999
25
Total Inventory:
1
$1,900,000 - $1,999,999
$1,700,000 - $1,799,999
5
1
$2,200,000 - $2,399,999 $2,000,000 - $2,199,999
3
2
3
1
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,430,000
2
2
5
4
125%
1,000 - 1,499
$1,685,000
2
2
11
6
183%
1,500 - 1,999
$1,750,000
2
2
9
6
150%
2,000 - 2,499
$3,567,000
3
4
6
0
NA
2,500 - 2,999
$3,347,500
3
4
4
9
44%
3,000+
$2,900,000
4
4
1
0
NA
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
MAUI
Attached Homes
13-Month Luxury Market Trend4 Sale Price
$2,370,000
$2,205,000
Inventory
$2,275,000 $2,025,000 $1,800,000
166
161
145
$1,700,000
$1,500,000
$1,475,000
140
$1,700,000
Aug-20
9 Sep-20
Oct-20
$1,648,000
$1,769,000
164
104 69
20
$1,746,250
$1,500,000
109 31
Solds
19 Nov-20
37
Dec-20
58
62
25
15 Jan-21
Feb-21
Mar-21
52
Apr-21
48
50
38
May-21
42
37
Jun-21
47
25
Jul-21
36
Aug-21
Median Data Review | August Total Inventory Aug. 2020
Aug. 2021
140
25 VARIANCE: -82 % Sale Price Per SqFt.
Aug. 2020
$
1,092
Aug. 2021
1,407 VARIANCE: 29 % $
Total Solds Aug. 2020
Sales Price
Aug. 2021
31
36 VARIANCE: 16 %
Aug. 2020
$
2.21m
1.77m VARIANCE: -20 %
Sale to List Price Ratio Aug. 2020
Aug. 2021
100.00% 100.00% VARIANCE: 0 %
$
Days on Market Aug. 2020
408
Aug. 2021
79 VARIANCE: -81 %
Maui Market Summary | August 2021 • The Maui attached luxury market is a Seller's Market with a 144% Sales Ratio. • Homes sold for a median of 100.00% of list price in August 2021.
• The most active price band is $1,400,000-$1,499,999, where the sales ratio is 400%. • The median luxury sales price for attached homes is $1,769,000.
• The median days on market for August 2021 was 79 days, down from 408 in August 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
Aug. 2021
September
2021
Island of Hawaii
ISLAND OF HAWAII
Single-Family Homes
Luxury Inventory vs. Sales | August 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,100,000 $9,000,000+ $7,800,000 - $8,999,999
5
2
0 0
Total Inventory: 1
Total Sales: 27
$5,800,000 - $6,799,999
1 1
Seller's Market
$5,000,000 - $5,799,999
1 1
Total Sales Ratio2:
$6,800,000 - $7,799,999
$4,200,000 - $4,999,999
0
7
1
$2,800,000 - $3,399,999
5
1 0
3
$2,000,000 - $2,399,999
3
2
$1,700,000 - $1,999,999
6
2
$1,400,000 - $1,699,999
5
3
$1,300,000 - $1,399,999
4
3
$1,200,000 - $1,299,999
7
3 5 5
$1,100,000 - $1,199,999
1
51%
3
0
$3,400,000 - $4,199,999
$2,400,000 - $2,799,999
53
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,599,999
3
3
9
25
36%
3,000 - 3,999
$1,630,000
4
5
5
7
71%
4,000 - 4,999
NA
NA
NA
0
2
0%
5,000 - 5,999
NA
NA
NA
0
4
0%
6,000 - 6,999
NA
NA
NA
0
0
NA
7,000+
$11,250,000
6
7
1
0
NA
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
ISLAND OF HAWAII
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds $2,400,000
$2,137,500
$2,025,000
$2,001,500
$1,788,500 $1,600,000
$1,499,500 141
136
130
$1,595,000
18
27
Aug-20
Sep-20
130
20 Oct-20
120
$1,632,500
107
28
28
Nov-20
Dec-20
93 31
Jan-21
$1,800,000
$1,760,000
77 36
43
Feb-21
Mar-21
67
72
42
Apr-21
$1,775,000
63
40
57 27
May-21
$1,630,000
53 24
Jun-21
Jul-21
27
Aug-21
Median Data Review | August Total Inventory Aug. 2020
Aug. 2021
130
53 VARIANCE: -59 % Sale Price Per SqFt.
Aug. 2020
$
Aug. 2021
483
741 VARIANCE: 53 % $
Total Solds Aug. 2020
Aug. 2021
18
27 VARIANCE: 50 %
Sales Price Aug. 2020
$
1.60m
1.63m VARIANCE: 2 %
Sale to List Price Ratio Aug. 2020
Aug. 2021
93.21%
99.38% VARIANCE: 7 %
$
Days on Market Aug. 2020
31
Aug. 2021
21 VARIANCE: -32 %
Island of Hawaii Market Summary | August 2021 • The Island of Hawaii single-family luxury market is a Seller's Market with a 51% Sales Ratio. • Homes sold for a median of 99.38% of list price in August 2021.
• The most active price band is $1,100,000-$1,199,999, where the sales ratio is 100%. • The median luxury sales price for single-family homes is $1,630,000.
• The median days on market for August 2021 was 21 days, down from 31 in August 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
Aug. 2021
ISLAND OF HAWAII
Attached Homes
Luxury Inventory vs. Sales | August 2021 Inventory
Sales
Luxury Benchmark Price 1: $950,000 $4,500,000+ 1 1
$4,000,000 - $4,499,999 $3,500,000 - $3,999,999
$3,100,000 - $3,499,999 $2,700,000 - $3,099,999 $2,400,000 - $2,699,999 $2,100,000 - $2,399,999
6
0 3
0
Seller's Market Total Sales Ratio2: 46%
1
0
4
1 1 1
$1,400,000 - $1,599,999
6
1
0
5
$1,200,000 - $1,299,999
2
$1,100,000 - $1,199,999
2
0
3
1
0
1 1
$950,000 - $999,999
1
Total Sales: 16
0 0
$1,600,000 - $1,799,999
$1,000,000 - $1,099,999
Total Inventory: 35
2
0
$1,800,000 - $2,099,999
$1,300,000 - $1,399,999
5
3
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
NA
NA
NA
0
7
0%
1,500 - 1,999
$1,300,000
3
3
3
11
27%
2,000 - 2,499
$2,950,000
3
3
4
2
200%
2,500 - 2,999
$3,975,000
4
4
2
4
50%
3,000+
$1,500,000
4
5
2
5
40%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
ISLAND OF HAWAII
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
Solds
$2,975,000 $2,222,500
$1,950,000
$1,750,000
$1,480,000 89
78
76
11
9
Aug-20
Sep-20
65
19
Oct-20
$1,500,000
$1,420,000
$1,427,500
$1,425,000
$1,625,000
$1,400,000
$1,595,000
$1,340,000
64
13 Nov-20
25
Dec-20
41
26
24
Jan-21
22
22
Feb-21
28
26
Mar-21
31
Apr-21
29
24
17
May-21
28
17
Jun-21
35
23
16
Jul-21
Aug-21
Median Data Review | August Total Inventory Aug. 2020
Aug. 2021
89
35 VARIANCE: -61 % Sale Price Per SqFt. Aug. 2020
$
Aug. 2021
775
715 VARIANCE: -8 % $
Total Solds Aug. 2020
Aug. 2021
11
16 VARIANCE: 45 %
Sales Price Aug. 2020
$
1.95m
1.34m VARIANCE: -31 %
Sale to List Price Ratio Aug. 2020
Aug. 2021
94.89%
100.00% VARIANCE: 5 %
$
Days on Market Aug. 2020
45
Aug. 2021
4 VARIANCE: -91 %
Island of Hawaii Market Summary | August 2021 • The Island of Hawaii attached luxury market is a Seller's Market with a 46% Sales Ratio. • Homes sold for a median of 100.00% of list price in August 2021.
• The most active price band is $1,200,000-$1,299,999, where the sales ratio is 150%. • The median luxury sales price for attached homes is $1,340,000.
• The median days on market for August 2021 was 4 days, down from 45 in August 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
Aug. 2021
KAUAI
|
OAHU
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MAUI
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HAWAII ISLAND
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