OAHU
|
HAWAII ISLAND
|
MAUI
|
KAUAI
Luxury Market Report Hawaii, July 2022
About Corcoran Pacific Properties Corcoran Pacific Properties, the exclusive Hawaii franchisee of The Corcoran Group, is a locally owned and operated company, founded in 2005 with a simple philosophy: treating every client as a friend, and every transaction as if it was our own. Over the past 17+ 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 200+ 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.
Gregg Antonsen
SVP, Luxury Sales gregg.antonsen@corcoranpacific.com
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
North Shore Office 66-590 Kamehameha Hwy, Unit 1 Haleiwa, HI 96712 (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
Hawaii Luxury Market Review
Page 8-12
Oahu Market Review
Page 13-17
Island of Hawaii Market Review
Page 18-22
Maui Market Review
Page 23-27
Kauai Market Review
Page 29-32
North American Luxury Market Review
Page 33
13-Month Market Trends
Page 36
Single-Family Homes Monthly Overview
Page 40
Attached Homes Monthly Overview
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
Map of Luxury Residential Markets
W
elcome to the Luxury Market Report, your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report provides an in-depth
look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.
Copyright © 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.
Hawaii
Luxury Market Review Corcoran Pacific Properties is pleased to present a closer look at the luxury real estate market in Hawaii, which includes detailed statistical analysis of Oahu, the Island of Hawaii, Maui and Kauai for June 2022. In line with rising inventory levels for the luxury real estate market throughout North America, the Hawaiian islands also saw significant increases last month. Single-family levels rose by 23% and attached properties increased by 45%, compared to June 2021. The comparative level of properties listed for sale month over month was also significant with an increase of 21.7% for single family homes and 12.8% for attached properties, compared to May 2022. While many individuals may jump to the conclusion that these increases forecast a downturn in the market, in comparison with Hawaii’s 10-year inventory averages, prior to the pandemic, the current level remains 25-30% lower. Although sales in the single-family market have fallen 20% compared to 2021, the attached market shows an 18% increase in condos and townhomes purchased. In general, market prices have now leveled off but continue to remain at their highest price point in Hawaii’s luxury real estate history. “The Hawaii market is expected to remain unsettled for the next few months” stated Gregg Antonsen, SVP Luxury Sales for Corcoran Pacific. “Buyers have certainly become a little more wary given both the current economic and fiscal volatility, however, this influx of homes entering the market now affords them the opportunity of greater choice and more time to buy, which is naturally slowing down the speed and volume of luxury sales.” Despite increasing inventory levels, Antonsen anticipates that the luxury market will remain strong and any buyers waiting for prices to decrease sharply should be prepared to be disappointed, certainly in the short term. Given the volume of homes purchased recently and that many of these recent buyers bought homes with an eye to long-term security for their family it is unlikely, even if prices do decline slightly, that there will be a rush to sell these homes. For those looking to sell in this slowing and unsettled market, Antonsen acknowledges that multiple offers and over asking prices may be a thing of the past, but that a move-in ready property will still command more attention as buyers simply do not have the time, resources nor the interest, especially if they are not local, to renovate. As always, a real estate expert familiar with local trends is the best resource to navigate the specific and varied markets found within the Hawaiian Islands.
July
2022
Oahu Hawaii
OAHU
Single-Family Homes
Luxury Inventory vs. Sales | June 2022 Inventory
Sales
Luxury Benchmark Price 1: $1,750,000 $9,500,000+ $8,500,000 - $9,499,999 $7,500,000 - $8,499,999 $6,500,000 - $7,499,999
$4,100,000 - $4,699,999
3
0
8
Total Sales: 56 Seller's Market
6
0
16
0
6
1
10
3
$3,100,000 - $3,499,999
15
6
$2,700,000 - $3,099,999
16
6
$2,300,000 - $2,699,999
21
12
$2,100,000 - $2,299,999
18
3 8
$1,900,000 - $2,099,999 $1,800,000 - $1,899,999
1
Total Sales Ratio2: 31%
11
1
$3,500,000 - $4,099,999
$1,750,000 - $1,799,999
181
Total Inventory:
0
$5,500,000 - $6,499,999 $4,700,000 - $5,499,999
19
2
12 16
8
8
2
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$2,147,500
4
3
22
54
41%
3,000 - 3,999
$2,100,000
4
4
21
42
50%
4,000 - 4,999
$2,750,000
5
3
6
30
20%
5,000 - 5,999
$3,786,213
5
5
4
16
25%
6,000 - 6,999
$3,700,000
5
6
1
14
7%
7,000+
$13,284,444
4
5
2
25
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
$2,270,000
$2,552,500
$2,340,000
178
150 67
Jun-21
174
174
$2,505,000
159
66
59
Aug-21
Sep-21
56
Jul-21
$2,425,000
$2,557,500
159 66
Oct-21
Inventory
Solds
$2,690,000 $2,374,000
150
$2,375,000
143
58
51
Nov-21
Dec-21
Jan-22
$2,500,000
46
Feb-22
$2,375,000
145
65
64
Mar-22
$2,375,000
181
151
138
125
40
$2,600,000
57
Apr-22
56
May-22
Jun-22
Median Data Review | June Total Inventory Jun. 2021
Jun. 2022
150
Jun. 2021
56 VARIANCE: -16 %
Sale Price Per SqFt.
Sale to List Price Ratio
Jun. 2022
734
761 VARIANCE: 4 % $
67
Jun. 2021
Sales Price
Jun. 2022
181 VARIANCE: 21 %
Jun. 2021
$
Total Solds
Jun. 2022
Jun. 2021
$
2.27m
2.38m VARIANCE: 5 % $
Days on Market Jun. 2021
100.00% 100.00% VARIANCE: 0 %
13
Jun. 2022
12 VARIANCE: -8 %
Oahu Market Summary | June 2022 • The Oahu single-family luxury market is a Seller's Market with a 31% Sales Ratio. • Homes sold for a median of 100.00% of list price in June 2022.
• The most active price band is $1,900,000-$2,099,999, where the sales ratio is 150%. • The median luxury sales price for single-family homes is $2,375,000.
• The median days on market for June 2022 was 12 days, down from 13 in June 2021.
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
Jun. 2022
OAHU
Attached Homes
Luxury Inventory vs. Sales | June 2022 Inventory
Sales
Luxury Benchmark Price 1: $750,000 $7,000,000+ $6,000,000 - $6,999,999 $5,200,000 - $5,999,999
1
2
$2,600,000 - $3,199,999 $2,200,000 - $2,599,999
$1,800,000 - $2,199,999
Total Sales: 148 Seller's Market
8
1
Total Sales Ratio2: 41%
10
0
$3,200,000 - $3,799,999
9
3
17
1 14
2
27
7
$1,500,000 - $1,799,999
33
10
$1,200,000 - $1,499,999
48
22
$1,000,000 - $1,199,999
46
15
$900,000 - $999,999
36
20
$800,000 - $899,999
67
41
$750,000 - $799,999
1
363
Total Inventory:
2
0
$4,400,000 - $5,199,999
$3,800,000 - $4,399,999
10
0
34
25
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$880,000
2
2
37
128
29%
1,000 - 1,499
$899,000
2
2
75
133
56%
1,500 - 1,999
$907,500
3
2
20
47
43%
2,000 - 2,499
$1,505,000
3
3
13
28
46%
2,500 - 2,999
$1,055,000
8
3
1
9
11%
3,000+
$4,175,000
4
4
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.
OAHU
Attached Homes
13-Month Luxury Market Trend4 Median Sales Price
$960,000
$955,000 $875,000
121
Jun-21
146
125
Jul-21
Aug-21
$947,000
355
329
283
278
273
$910,000
101
Sep-21
$900,000
351
116
Oct-21
Inventory
$968,750
$935,000
327
105
Nov-21
315
122
120
Dec-21
Jan-22
Solds
$950,000
$928,000
326
332
106
Feb-22
$900,000
$890,000
331
326
153
152
Mar-22
$925,000
363
153
Apr-22
148
May-22
Jun-22
Median Data Review | June Total Inventory Jun. 2021
Jun. 2022
273
Jun. 2021
Jun. 2022
363 VARIANCE: 33 %
121
Sale Price Per SqFt.
Sale to List Price Ratio
Jun. 2021
$
Total Solds
Jun. 2022
803
857 VARIANCE: 7 % $
148 VARIANCE: 22 %
Jun. 2021
Jun. 2022
100.00% 100.00% VARIANCE: 0 %
Sales Price Jun. 2021
$
960k
925k VARIANCE: -4 % $
Days on Market Jun. 2021
12
Jun. 2022
12 VARIANCE: 0 %
Oahu Market Summary | June 2022 • The Oahu attached luxury market is a Seller's Market with a 41% Sales Ratio. • Homes sold for a median of 100.00% of list price in June 2022.
• The most active price band is $750,000-$799,999, where the sales ratio is 74%. • The median luxury sales price for attached homes is $925,000.
• The median days on market for June 2022 was 12 days, remaining the same from June 2021.
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
Jun. 2022
July
2022
Island of Hawaii
ISLAND OF HAWAII
Single-Family Homes
Luxury Inventory vs. Sales | June 2022 Inventory
Sales
Luxury Benchmark Price 1: $1,100,000 $9,000,000+ $7,800,000 - $8,999,999
3
0
$6,800,000 - $7,799,999 $5,800,000 - $6,799,999
8
0
0
1 1
Total Sales: 28
1
Seller's Market
$4,200,000 - $4,999,999
12
2
$2,800,000 - $3,399,999
12
2 10
1
$2,000,000 - $2,399,999
13
2
$1,700,000 - $1,999,999
11
2
$1,400,000 - $1,699,999
$1,300,000 - $1,399,999 $1,200,000 - $1,299,999 $1,100,000 - $1,199,999
1
23%
2
0
$3,400,000 - $4,199,999
$2,400,000 - $2,799,999
Total Sales Ratio2:
2 2
$5,000,000 - $5,799,999
121
Total Inventory:
25
8 1
4 12
2
8
2
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,427,000
3
2
12
62
19%
3,000 - 3,999
$2,275,000
4
3
5
14
36%
4,000 - 4,999
$5,700,000
5
5
1
4
25%
5,000 - 5,999
$3,660,000
5
5
1
2
50%
6,000 - 6,999
NA
NA
NA
0
2
0%
7,000+
NA
NA
NA
0
2
0%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
ISLAND OF HAWAII
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
Inventory
Solds
$2,225,000 $1,800,000
$1,990,000 $1,775,000
$1,987,500
$1,630,000
$1,502,500
$1,650,000
$2,100,000
$1,750,000 $1,485,000
$1,600,000
$1,497,000
121 63
57
27
Jun-21
27
28
Aug-21
Sep-21
24 Jul-21
64
60
53
64 24
Oct-21
59 24
Nov-21
63
41
31
33
Feb-22
Mar-22
27
Dec-21
Jan-22
76
65
60
92 40
32
Apr-22
28
May-22
Jun-22
Median Data Review | June Total Inventory Jun. 2021
Jun. 2022
63
121 VARIANCE: 92 % Sale Price Per SqFt.
Jun. 2021
$
Jun. 2022
800
743 VARIANCE: -7 % $
Total Solds Jun. 2021
Sales Price
Jun. 2022
27
28 VARIANCE: 4 %
Jun. 2021
$
1.80m
1.60m VARIANCE: -11 %
Sale to List Price Ratio Jun. 2021
Jun. 2022
$
Days on Market Jun. 2021
100.00% 100.00% VARIANCE: 0 %
14
Jun. 2022
9 VARIANCE: -36 %
Island of Hawaii Market Summary | June 2022 • The Island of Hawaii single-family luxury market is a Seller's Market with a 23% Sales Ratio. • Homes sold for a median of 100.00% of list price in June 2022.
• The most active price band is $1,300,000-$1,399,999, where the sales ratio is 400%. • The median luxury sales price for single-family homes is $1,600,000.
• The median days on market for June 2022 was 9 days, down from 14 in June 2021.
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
Jun. 2022
ISLAND OF HAWAII
ATTACHED HOMES Attached Homes
Luxury Inventory vs. Sales | June 2022 Inventory
Sales
Luxury Benchmark Price 1: $950,000 $4,500,000+ $4,000,000 - $4,499,999
0 0
1
1
4
$3,500,000 - $3,999,999 $3,100,000 - $3,499,999
$2,700,000 - $3,099,999
0
3 9
1 2
$1,600,000 - $1,799,999
3 3 3
$1,400,000 - $1,599,999 $1,300,000 - $1,399,999 $1,200,000 - $1,299,999
3
1
5
0
$1,100,000 - $1,199,999
7
3 3
$1,000,000 - $1,099,999 $950,000 - $999,999
1
Total Sales Ratio2: 60%
4
1
$1,800,000 - $2,099,999
Seller's Market
4 1
$2,100,000 - $2,399,999
Total Sales: 30
1
0
$2,400,000 - $2,699,999
Total Inventory: 50
6
3
4
4
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
5
0%
1,000 - 1,499
$1,100,531
2
2
9
11
82%
1,500 - 1,999
$1,439,500
2
2
3
8
38%
2,000 - 2,499
$2,610,000
3
3
7
8
88%
2,500 - 2,999
NA
NA
NA
0
8
0%
3,000+
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.
ISLAND OF HAWAII
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
Solds
$1,852,000 $1,625,000
$1,595,000
$1,400,000
$1,461,560
$1,340,000
$1,300,000
$1,407,500
$1,640,000
$1,555,000 $1,400,000
$1,225,000
$1,180,000
50 24
28 17
Jun-21
35 23
Jul-21
34
32
16
18
Aug-21
Sep-21
29
Oct-21
32
29
17
20
Nov-21
Dec-21
25
24
Jan-22
26
34 24
Feb-22
26
24
Mar-22
38
35
Apr-22
36
30
May-22
Jun-22
Median Data Review | June Total Inventory Jun. 2021
Jun. 2022
24
50 VARIANCE: 108 % Sale Price Per SqFt. Jun. 2021
$
1,139
Jun. 2022
1,025 VARIANCE: -10 % $
Total Solds Jun. 2021
Sales Price
Jun. 2022
17
30 VARIANCE: 76 %
Jun. 2021
$
1.40m
1.64m VARIANCE: 17 %
Sale to List Price Ratio Jun. 2021
Jun. 2022
$
Days on Market Jun. 2021
100.00% 100.03% VARIANCE: 0 %
8
Jun. 2022
7 VARIANCE: -13 %
Island of Hawaii Market Summary | June 2022 • The Island of Hawaii attached luxury market is a Seller's Market with a 60% Sales Ratio. • Homes sold for a median of 100.03% of list price in June 2022.
• The most active price band is $2,400,000-$2,699,999, where the sales ratio is 400%. • The median luxury sales price for attached homes is $1,640,000.
• The median days on market for June 2022 was 7 days, down from 8 in June 2021.
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
Jun. 2022
July
2022
Maui Hawaii
MAUI
Single-Family Homes
Luxury Inventory vs. Sales | June 2022 Inventory
Sales
Luxury Benchmark Price 1: $1,500,000 $12,000,000+ $9,900,000 - $11,999,999
5
0
$7,900,000 - $9,899,999 $5,900,000 - $7,899,999
11
1
7
2
$3,900,000 - $4,899,999
Total Sales Ratio2:
4
14
2
$2,900,000 - $3,399,999
7
2
$2,400,000 - $2,899,999
18
5
$2,200,000 - $2,399,999
7
1
3
0
$1,800,000 - $1,999,999
1
18
7 6
1
$1,600,000 - $1,699,999 $1,500,000 - $1,599,999
22%
6
2
$3,400,000 - $3,899,999
$1,700,000 - $1,799,999
Seller's Market
9
1
133
Total Sales: 29
0
$4,900,000 - $5,899,999
$2,000,000 - $2,199,999
Total Inventory:
3
5
13
2
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$1,988,800
3
2
7
41
17%
2,000 - 2,999
$1,950,000
3
7
9
42
21%
3,000 - 3,999
$2,699,500
4
3
7
21
33%
4,000 - 4,999
$3,677,500
4
9
4
13
31%
5,000 - 5,999
NA
NA
NA
0
9
0%
6,000+
$6,475,000
5
7
2
7
29%
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
$2,680,000
$2,874,500 $2,575,000
Inventory
Solds
$2,950,000
$2,775,000
$2,198,000
$2,420,000
$2,162,500
$2,500,000
$2,402,500
$2,262,500
$2,225,000 $1,900,000
118
112
39
Jun-21
103 40
Jul-21
104
102
30
32
Aug-21
Sep-21
49
Oct-21
112
106
92
27
30
Nov-21
Dec-21
109
35
Jan-22
103
21 Feb-22
38
32
Mar-22
133
114
97
33
Apr-22
29
May-22
Jun-22
Median Data Review | June Total Inventory Jun. 2021
Jun. 2022
118
Jun. 2021
29 VARIANCE: -26 %
Sale Price Per SqFt.
Sale to List Price Ratio
Jun. 2022
880
887 VARIANCE: 1 % $
39
Jun. 2021
Sales Price
Jun. 2022
133 VARIANCE: 13 %
Jun. 2021
$
Total Solds
Jun. 2022
Jun. 2021
$
2.68m
2.50m VARIANCE: -7 % $
Days on Market Jun. 2021
98.45%
98.52% VARIANCE: 0 %
115
Jun. 2022
94 VARIANCE: -18 %
Maui Market Summary | June 2022 • The Maui single-family luxury market is a Seller's Market with a 22% Sales Ratio. • Homes sold for a median of 98.52% of list price in June 2022.
• The most active price band is $1,600,000-$1,699,999, where the sales ratio is 60%. • The median luxury sales price for single-family homes is $2,500,000.
• The median days on market for June 2022 was 94 days, down from 115 in June 2021.
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
Jun. 2022
MAUI
Attached Homes
Luxury Inventory vs. Sales | June 2022 Inventory
Sales
Luxury Benchmark Price 1: $1,200,000 $4,500,000+ $3,600,000 - $4,499,999
5
3
$3,100,000 - $3,599,999
$2,200,000 - $2,399,999
3
$2,000,000 - $2,199,999
Total Sales Ratio2:
6 7
1
$1,800,000 - $1,899,999
6
3
$1,700,000 - $1,799,999
7
3
$1,600,000 - $1,699,999
7
3 0
1 5
$1,400,000 - $1,499,999 $1,300,000 - $1,399,999
1
47%
4
1
$1,900,000 - $1,999,999
Seller's Market
7
3
1
89
Total Sales: 42
3
$2,400,000 - $2,599,999
$1,200,000 - $1,299,999
Total Inventory:
5
2
$2,600,000 - $3,099,999
$1,500,000 - $1,599,999
15
5
6 8
5 2
4
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
$1,769,500
2
2
12
26
46%
1,000 - 1,499
$1,525,000
2
2
17
28
61%
1,500 - 1,999
$2,615,000
2
2
7
12
58%
2,000 - 2,499
$3,900,000
3
6
2
11
18%
2,500 - 2,999
$5,112,500
3
8
2
9
22%
3,000+
$8,728,000
4
9
2
3
67%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
MAUI
Attached Homes
13-Month Luxury Market Trend4 Sale Price
Inventory
$2,249,000
$2,025,000 $1,648,000
$1,769,000
$1,927,000
Solds
$2,325,000
$2,000,000
$1,925,000 $1,675,000
$1,700,000
$1,925,000 $1,650,000
$1,812,500
89
77 38
42
Jun-21
37
47 25
Jul-21
36
Aug-21
27
40
Sep-21
31
31
Oct-21
34
48
34
Nov-21
50
47
34
30
Dec-21
Jan-22
53
59
56
55
35
Feb-22
42
31
Mar-22
Apr-22
May-22
Jun-22
Median Data Review | June Total Inventory Jun. 2021
Jun. 2022
38
89 VARIANCE: 134 % Sale Price Per SqFt. Jun. 2021
$
1,321
Jun. 2022
1,594 VARIANCE: 21 % $
Total Solds Jun. 2021
Sales Price
Jun. 2022
42
42 VARIANCE: 0 %
Jun. 2021
$
2.03m
1.81m VARIANCE: -10 %
Sale to List Price Ratio Jun. 2021
Jun. 2022
100.00% 100.00% VARIANCE: 0 %
$
Days on Market Jun. 2021
89
Jun. 2022
71 VARIANCE: -20 %
Maui Market Summary | June 2022 • The Maui attached luxury market is a Seller's Market with a 47% Sales Ratio. • Homes sold for a median of 100.00% of list price in June 2022.
• The most active price band is $1,400,000-$1,499,999, where the sales ratio is 120%. • The median luxury sales price for attached homes is $1,812,500.
• The median days on market for June 2022 was 71 days, down from 89 in June 2021.
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
Jun. 2022
July
2022
Kauai Hawaii
KAUAI
Single-Family Homes
Luxury Inventory vs. Sales | June 2022 Inventory
Sales
Luxury Benchmark Price 1: $1,200,000 $6,000,000+ $5,400,000 - $5,999,999
2
0
$3,900,000 - $4,399,999 $3,400,000 - $3,899,999
Total Inventory:
2 2
$4,900,000 - $5,399,999 $4,400,000 - $4,899,999
9
1
Total Sales: 15
0 0 0
36%
6 5
1 3
5
2
0 1 1 0 0 1
$1,300,000 - $1,399,999
1
Total Sales Ratio2:
1
$1,500,000 - $1,599,999
$1,200,000 - $1,299,999
3
4
$1,800,000 - $2,199,999
$1,400,000 - $1,499,999
Seller's Market
2
$2,200,000 - $2,599,999
$1,600,000 - $1,799,999
3
1
$3,000,000 - $3,399,999 $2,600,000 - $2,999,999
42
2
0 0
Beds3
Price
DOM
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0-1 Bedrooms
NA
NA
NA
0
1
0%
2 Bedrooms
$1,895,000
0
3
3
4
75%
3 Bedrooms
$2,100,000
6
2
7
11
64%
4 Bedrooms
$3,376,000
4
4
4
13
31%
5 Bedrooms
$3,027,500
39
3
1
7
14%
6+ Bedrooms
NA
NA
NA
0
6
0%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
KAUAI
Single-Family Homes
13-Month Luxury Market Trend4 Median Sales Price
$2,212,500 $1,935,000
57
55 30
Jun-21
20
Jul-21
Solds
$2,374,000
$2,312,500 $2,030,000 $1,683,250
56
Inventory
48
16
Aug-21
$1,875,000
48 24
Sep-21
$1,789,000
Oct-21
$2,272,000 $1,995,000
$2,100,000
$1,735,000
57
47
14
$2,000,000
44
19
22
Nov-21
Dec-21
32 17
14
Feb-22
Mar-22
15
Jan-22
42
41
37
28
19
15
13
Apr-22
May-22
Jun-22
Median Data Review | June Total Inventory Jun. 2021
Jun. 2022
56
Jun. 2021
15 VARIANCE: -50 %
Sale Price Per SqFt.
Sale to List Price Ratio
721
Jun. 2022
1,192 VARIANCE: 65 % $
30
Jun. 2021
Sales Price
Jun. 2022
42 VARIANCE: -25 % Jun. 2021
$
Total Solds
Jun. 2022
Jun. 2021
$
1.94m
2.10m VARIANCE: 9 % $
Days on Market Jun. 2021
98.61%
100.00% VARIANCE: 1 %
36
Jun. 2022
6 VARIANCE: -83 %
Kauai Market Summary | June 2022 • The Kauai single-family luxury market is a Seller's Market with a 36% Sales Ratio. • Homes sold for a median of 100.00% of list price in June 2022.
• The most active price band is $1,300,000-$1,399,999, where the sales ratio is 200%. • The median luxury sales price for single-family homes is $2,100,000.
• The median days on market for June 2022 was 6 days, down from 36 in June 2021.
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
Jun. 2022
KAUAI
Attached Homes
KAUAI
Luxury Inventory vs. Sales | June 2022 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
1
0 0 0
$2,800,000 - $3,199,999 $2,400,000 - $2,799,999
Seller's Market
2
1 0
5
0
4
0 2
1 0
1
$1,600,000 - $1,799,999
2
1
$1,400,000 - $1,599,999
3
2
$1,200,000 - $1,399,999
6
4
$1,100,000 - $1,199,999
1
43%
Total Sales Ratio2:
2
$2,100,000 - $2,399,999
$1,800,000 - $2,099,999
Total Sales: 15
2
0
$3,600,000 - $3,999,999
$3,200,000 - $3,599,999
35
Total Inventory:
2
1
$1,000,000 - $1,099,999
2 2
$950,000 - $999,999
2 2
Beds3
Price
DOM
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0-1 Bedrooms
$1,085,000
6
2
2
2
100%
2 Bedrooms
$1,252,500
15
2
9
13
69%
3 Bedrooms
$1,620,000
50
3
3
13
23%
4 Bedrooms
NA
NA
NA
0
5
0%
5 Bedrooms
NA
NA
NA
0
2
0%
6+ Bedrooms
$1,008,000
0
3
1
0
NA
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
KAUAI
Attached Homes
13-Month Luxury Market Trend4 Sale Price
$1,282,500
$1,375,000
$1,495,000 $1,255,000
41
35
28 20
$1,350,000
40
13
15
$1,375,000
15
Solds
$1,438,679
$1,420,516
34
28 20
Inventory
31
31
28
22
19
$1,225,000
$1,200,000
22
$1,277,500
$1,354,500
35
28
27
$1,252,500
17
16
15
35
15
5 Jun-21
Jul-21
Aug-21
Sep-21
Oct-21
Nov-21
Dec-21
Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Median Data Review | June Total Inventory Jun. 2021
Jun. 2022
35
Jun. 2021
15 VARIANCE: -25 %
Sale Price Per SqFt.
Sale to List Price Ratio
878
Jun. 2022
1,083 VARIANCE: 23 % $
20
Jun. 2021
Sales Price
Jun. 2022
35 VARIANCE: 0 %
Jun. 2021
$
Total Solds
Jun. 2022
96.93%
100.00% VARIANCE: 3 %
Jun. 2021
$
1.28m
Jun. 2022
1.25m VARIANCE: -2 % $
Days on Market Jun. 2021
Jun. 2022
62
11 VARIANCE: -82 %
Kauai Market Summary | June 2022 • The Kauai attached luxury market is a Seller's Market with a 43% Sales Ratio. • Homes sold for a median of 100.00% of list price in June 2022.
• The most active price bands are $950,000-$999,999 and $1,000,000-$1,099,999, where the sales ratio is 100%.
• The median luxury sales price for attached homes is $1,252,500.
• The median days on market for June 2022 was 11 days, down from 62 in June 2021. 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
Luxury IS IN
EACH DETAIL. HUBERT DE GIVENCHY
North American Luxury Review Luxury Real Estate Remains A Seller's Market Before we head too far into the summer, we look back at the last six months to understand how the luxury real estate market has changed and review new trends emerging that will impact buyer decisions as we move through the rest of the year. Historically, the start of 2022 saw one of the strongest markets for luxury real estate. Demand for luxury properties outpaced new properties listed for sale, and inventory levels were at an all-time low in most of North America’s luxury markets. Prices continued to escalate, reaching new heights as sellers received multiple bids, over-asking prices, and contracts without contingencies. Experts predicted, including the Institute, that the market would slow in 2022. However, there didn’t seem to be any obvious signs, even in March, that the demand for luxury properties would change as dramatically as it did and in such a relatively short period of time. Certainly, no one anticipated the dramatic upswing of inventory levels in May, which set the media alight with predictions of a real estate bubble burst. In hindsight, a perfect storm was brewing at the end of March. A combination of a naturally slowing market was suddenly fueled by changes and an almost instant reaction to outside forces that included interest rate increases, inflation, supply chain issues and stock market volatility. By the end of March, inventory levels started to climb as those looking to sell recognized that market prices were close to their highest point. There was also an expectation that more homes would be listed in the spring season –typically the busiest period for most of North America’s markets - which, in turn, would allow sellers more breathing space in which to find a new home for themselves and not have to worry about escalating prices.
Equally, sellers recognized that interest rate hikes would start to play a large factor for both themselves and potential buyers. By selling in late March and April, they looked to get ahead of the changes in borrowing by securing lower mortgage rates and completing both their sale and new purchase before rates rose again. Inventory increases of 19.7% for single-family homes, mostly made up of a 19.4% rise in new listings entering the market, clearly reflect this influx in April. March’s sales ratio of 83.7%, which represents the sale of over 8.3 properties for every ten homes listed, fell by 8.8% to 74.9%. While the number of new listings in April 2022 comparatively outpaced the numbers in April 2021, the number of sold properties increased proportionately by 7.2%. This is important to recognize, as it confirms that as more inventory entered the market, it helped the flow of sales and appeased the pent-up demand. Less dramatic, the attached property market in April saw very little change in the amount of new inventory entering the market compared to March 2022. Inventory levels did increase, but as a result of fewer sales, which may have been a reaction to the first interest rate hike. May saw the most significant rise of inventory levels in the single-family category, causing the first wave of media frenzy as new listings entering the market increased by 35.7%, which, in turn, drove up inventory levels by 35.8%. The sales ratio dropped by 12.5% to 62.5% compared to April 2022, but sales increased by 13.2%. Again, this affirms that increasing inventory and steadier price levels allowed more buyers the opportunity to purchase homes. Like the single-family market, the attached property market saw significant increases in both its inventory level in May and the number of new properties listed for sale; with a 25.4% increase, the number of homes for sale made up 20.8% of new listings. This increase of listings in the attached property market drove the sales ratio down to 56.3%, but sales increased by 8.8% as buyers rushed to purchase before further mortgage rate hikes came into effect in May.
June’s inventory levels have nearly doubled compared to March 2022 as well as June 2021 for single-family homes and are up 66% and 54%, respectively, for attached properties. Although this may initially seem to bode a negative concern, the reality is that inventory levels remain far below 10-year historical norms seen prior to the pandemic. Indeed, the pace of inventory entering the market has started to fall in both the single-family and attached property markets. June saw a decrease in the inventory percentage increase to 31.2% compared to May 2022 for single-family properties that included only a 19.6% increase of new listings and a 19.7% increase for attached property levels with only 13.5% new listings. Increasing inventory levels have resulted in a declining sales ratio – this represents the number of properties sold against listings entering the market – which has fallen below 50% for the first time in two years to 45.06% for single-family homes and 41.34% for attached properties. However, these percentages are still far above the 20.5% transition point, which represents that luxury real estate is still very much a seller’s market. Of the 140 markets researched, 121 remain seller’s markets. In short, despite increasing inventory levels and the slowing of sales transactions, experts are very clear that buyers waiting for prices to plummet to pre-COVID levels are unlikely to witness a nosedive any time soon. Popular price points, especially in metropolitan areas, are still seeing a slight upward trajectory, with only the newer boomtowns that benefited from the mass exodus from cities starting to see impatient sellers decrease their listing prices. Although interest rates and inflation are slowing the pace of real estate, there has been a significant influx of former and new residents entering many of the more established metropolitan markets over the last year. The rental market flooded, causing rental prices to soar. With the cooling of the residential resale market, many renters have started to buy despite rising interest rates, weighing up the costs in favor of homeownership.
Supply is still low for luxury properties comparatively, which also gives potential buyers the opportunity to see their new property appreciate in value, especially as more people continue to return and fuel the demand further in the months to come. Whether the move is to older established metros or to newer hubs where major corporations have relocated their headquarters, these cities’ real estate markets are forecast to withstand the increases in interest rates and inflation. Over the last two years, we saw new markets emerge as the population shifted – whether it was in the bid to escape urban living, to avoid taxes, to explore a change of lifestyle, or to simply relocate to leverage more affordability – current predications are now hinging more on how economic factors will affect their real estate values. Sellers will certainly lose some of their edge given that the sales ratio has fallen 50% since March, but inventory levels of highly desirable properties are predicated to remain tight, especially as recent buyers are unlikely to want to sell quickly nor give up the great rates they secured and locked-in prior to March 2022. The summer and fall of 2022 are likely to see a very unsettled picture with regard to inventory levels, prices, and sales. Those looking at real estate as an investment expect a slower and bumpier ride compared to the last two years. Homeowners looking for their next home then recognize that costs to purchase will be much higher (mainly due to increased mortgage rates), but that over the long-term real estate offers one of the most consistent ways to see a good return, but more importantly, ownership provides security and a safe haven for your family.
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.
20
Days on Market
16
10
13
16
14 12
18
17
18
11
14
14
15
15
11
15
17
16
15
12
12
11
9
11
8
9 7
7
8
9
8
7
6 4 2 0 JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
$553 $442
$552 $458
$444
$524
$536
$423
$525 $421
$412
$509
$534
$423
$410
$402
$498
$508
$495 $403
$482
$379
$300
$396
$400
$482
$517
$500
$391
Price per Square Foot
$600
$200
$100
$0
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
$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 JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
Discrepancies in previous month statistics between the June 2022 and July 2022 reports are due to the addition of Finger Lakes, NY.
MAY
JUN
Luxury Monthly Market Review A Review of Key Market Differences Year over Year June 2021 | June 2022
Single-Family Homes June 2021
Median List Price
Median Sale Price Total Sales Ratio
$1,652,450
$1,688,888
81.70%
80.67%
$1,350,000
Median SP/LP Ratio Median Price per Sq. Ft.
June 2022
66.61% $391
$1,362,500
45.06% $442
June 2021
June 2022
Total Inventory
34,807
51,544
Total Sold
23,185
23,227
New Listings
14,653
Median Days on Market Average Home Size
11
25,354
3,538
3,199
Median prices represent properties priced above respective city benchmark prices.
New Listings
Total Sold
10,701
42
2
21.55%
Med. Sale Price
Days on Market
Sales Ratio
12,500
$
Single-Family Homes Market Summary | June 2022 •
Official Market Type: Seller's Market with a 42.06% Sales Ratio.1
•
Homes are selling for an average of 80.67% of list price.
•
The median luxury threshold2 price is $900,000, and the median luxury home sales price is $1,362,500.
•
Markets with the Highest Median Sales Price: Aspen ($11,400,000), Telluride ($4,350,000), Paradise Valley ($4,337,500), and Naples ($4,325,000).
•
Markets with the Highest Sales Ratio: St. Louis (136%), Hamilton County (123%), Richmond (116%) and Will County (106%). 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.
9
Luxury Monthly Market Review A Review of Key Market Differences Year over Year June 2021 | June 2022
Attached Homes June 2021
Median List Price
Median Sale Price Total Sales Ratio
$978,250
$940,700
86.69%
92.85%
$848,000
Median SP/LP Ratio Median Price per Sq. Ft.
June 2022
48.43% $517
$873,475 41.42% $553
Total Inventory New Listings
June 2021
June 2022
12,428
15,303
6,019
6,339
4,686
Total Sold
Median Days on Market Average Home Size
11
1,964
7,251
1,808
Median prices represent properties priced above respective city benchmark prices.
2,565 New Listings
320
Total Sold
Med. Sale Price
Days on Market
25,475
$
2
7.01% Sales Ratio
Attached Homes Market Summary | June 2022 •
Official Market Type: Seller's Market with a 41.42% Sales Ratio.1
•
Attached homes are selling for an average of 92.85% of list price.
•
The median luxury threshold2 price is $700,000, and the median attached luxury sale price is $873,475.
•
Markets with the Highest Median Sales Price: Aspen ($5,200,000), Vail ($3,302,500), San Francisco ($2,350,000), and Naples ($2,350,000).
•
Markets with the Highest Sales Ratio: Nashville (142%), Anne Arundel County (130%), DuPage County (123%) and Howard County (119%). 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.
9
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
$1,100,000
$995,750
610
364
258
14
Seller's
AZ
Chandler and Gilbert
$999,000
$990,000
266
151
129
28
Seller's
AZ
Flagstaff
$1,472,500
$1,695,000
94
45
25
46
Seller's
AZ
Mesa
$845,450
$840,000
206
113
103
24
Seller's
AZ
Paradise Valley
$4,995,000
$4,337,500
94
30
24
53
Seller's
AZ
Phoenix
$862,500
$800,000
900
489
397
26
Seller's
AZ
Scottsdale
$1,995,000
$1,664,781
625
272
234
29
Seller's
AZ
Tucson
$748,994
$659,000
692
324
336
5
Seller's
BC
Mid Vancouver Island
$1,650,000
$1,499,000
205
111
29
14
Buyer's
BC
Okanagan Valley
$1,750,000
$1,605,000
979
410
88
32
Buyer's
BC
Vancouver
$4,380,000
$3,310,000
1249
371
87
11
Buyer's
BC
Victoria
$2,500,000
$1,875,000
139
82
35
11
Seller's
CA
Central Coast
$2,895,000
$2,322,000
269
125
78
12
Seller's
CA
East Bay
$2,024,500
$1,975,000
652
463
613
10
Seller's
CA
Greater Palm Springs
$1,895,000
$1,677,500
254
120
116
23
Seller's
CA
Lake Tahoe
$2,275,000
$1,555,000
169
74
52
8
Seller's
CA
Los Angeles Beach Cities
$5,995,000
$3,975,000
303
105
90
10
Seller's
CA
Los Angeles City
$5,642,500
$3,412,500
642
253
180
14
Seller's
CA
Los Angeles The Valley
$2,499,000
$2,052,000
442
266
257
12
Seller's
CA
Marin County
$3,499,500
$3,000,000
98
35
81
9
Seller's
CA
Napa County
$3,799,000
$2,419,500
103
29
26
52
Seller's
CA
Orange County
$2,688,000
$2,200,000
1057
492
475
9
Seller's
CA
Placer County
$1,180,000
$1,075,000
305
74
89
12
Seller's
CA
Sacramento
$948,944
$920,000
870
256
254
8
Seller's
CA
San Diego
$2,150,000
$1,855,000
1018
560
474
7
Seller's
CA
San Francisco
$4,250,000
$3,050,000
108
35
89
9
Seller's
CA
San Luis Obispo County
$1,700,000
$1,500,000
191
67
95
16
Seller's
CA
Santa Barbara
$5,197,500
$3,495,000
128
71
66
10
Seller's
CA
Silicon Valley
$3,798,000
$3,480,000
608
380
360
9
Seller's
CA
Sonoma County
$2,325,000
$1,775,000
205
50
87
28
Seller's
CA
Ventura County
$2,099,000
$1,800,000
261
137
139
23
Seller's
CO
Aspen
$13,950,000
$11,400,000
89
34
7
280
Buyer's
CO
Boulder
$1,947,500
$1,515,000
262
159
141
31
Seller's
CO
Colorado Springs
$950,000
$840,000
447
259
209
5
Seller's
CO
Denver
$1,525,000
$1,385,000
582
355
444
4
Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Single-Family Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
CO
Douglas County
$1,349,900
$1,200,000
299
179
152
5
Seller's
CO
Durango
$1,710,000
$1,362,500
114
40
12
60
Buyer's
CO
Summit County
$3,222,500
$2,100,000
68
28
8
10
Buyer's
CO
Telluride
$6,395,000
$4,350,000
75
26
10
230
Buyer's
CO
Vail
$5,295,000
$3,401,000
91
37
7
3
Buyer's
CT
Central Connecticut
$697,250
$626,200
396
173
275
6
Seller's
CT
Coastal Connecticut
$2,195,000
$1,750,000
606
251
304
19
Seller's
DC
Washington
$4,888,000
$3,435,000
55
19
30
6
Seller's
DE
Sussex County Coastal
$1,399,990
$1,360,075
134
42
39
6
Seller's
FL
Boca Raton/Delray Beach
$2,950,000
$2,071,000
428
178
119
13
Seller's
FL
Coastal Pinellas County
$1,999,000
$2,895,000
101
48
19
10
Balanced
FL
Greater Fort Lauderdale
$1,399,999
$1,100,000
1154
574
414
13
Seller's
FL
Jacksonville Beaches
$1,289,000
$1,190,000
255
128
134
19
Seller's
FL
Lee County
$1,399,000
$1,300,000
571
234
161
8
Seller's
FL
Marco Island
$2,775,000
$2,425,000
113
31
16
29
Buyer's
FL
Miami
$1,999,999
$1,600,000
883
321
167
23
Balanced
FL
Naples
$4,990,000
$4,325,000
261
68
40
14
Balanced
FL
Orlando
$1,240,000
$1,126,500
664
324
250
7
Seller's
FL
Palm Beach Towns
$3,125,000
$3,500,000
221
74
61
21
Seller's
FL
Sarasota & Beaches
$2,925,000
$1,936,250
286
111
66
6
Seller's
FL
South Pinellas County
$1,699,000
$1,325,000
215
117
77
5
Seller's
FL
South Walton
$2,422,500
$2,515,000
380
148
78
15
Balanced
FL
Space Coast
$850,000
$750,000
287
138
157
5
Seller's
FL
Tampa
$799,700
$675,000
936
558
606
5
Seller's
FL
Weston
$1,289,950
$1,000,025
98
65
58
9
Seller's
GA
Atlanta
$1,500,000
$1,200,000
670
352
352
5
Seller's
GA
Duluth
$1,749,000
$1,482,500
21
13
12
9
Seller's
HI
Island of Hawaii
$2,100,000
$1,600,000
121
43
28
9
Seller's
HI
Kauai
$3,275,000
$2,100,000
42
11
15
6
Seller's
HI
Maui
$2,798,000
$2,500,000
133
41
29
94
Seller's
HI
Oahu
$3,180,000
$2,375,000
181
64
56
12
Seller's
ID
Ada County
$795,000
$768,700
929
546
387
6
Seller's
ID
Northern Idaho
$1,597,000
$1,410,000
390
183
51
40
Buyer's
IL
Chicago
$1,499,000
$1,278,500
739
346
522
7
Seller's
IL
DuPage County
$1,189,000
$950,000
338
152
213
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 Single-Family Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
IL
Lake County
$1,150,000
$925,000
323
136
213
10
Seller's
IL
Will County
$700,000
$625,000
219
108
232
6
Seller's
IN
Hamilton County
$848,788
$753,730
146
103
180
4
Seller's
KS
Johnson County
$802,480
$815,000
318
102
203
2
Seller's
MA
Cape Cod
$2,250,000
$1,642,500
131
49
42
14
Seller's
MA
Greater Boston
$3,125,000
$2,500,000
124
52
84
14
Seller's
MA
South Shore
$1,792,500
$1,400,000
74
38
53
16
Seller's
MD
Anne Arundel County
$992,400
$950,000
192
105
150
5
Seller's
MD
Frederick County
$850,000
$881,973
53
41
44
5
Seller's
MD
Howard County
$1,149,990
$1,008,000
91
65
94
5
Seller's
MD
Montgomery County
$1,944,334
$1,510,000
196
115
177
6
Seller's
MD
Talbot County
$2,495,000
$2,592,500
39
6
12
6
Seller's
MD
Worcester County
$949,450
$825,000
54
18
15
9
Seller's
MI
Livingston County
$794,000
$679,900
111
64
39
7
Seller's
MI
Monroe County
$629,900
$560,000
17
6
7
10
Seller's
MI
Oakland County
$725,000
$645,000
874
441
443
7
Seller's
MI
Washtenaw County
$862,500
$765,000
158
82
95
6
Seller's
MI
Wayne County
$697,000
$663,000
224
136
142
8
Seller's
MN
Olmsted County
$799,900
$764,000
79
27
40
11
Seller's
MN
Twin Cities
$1,249,000
$1,035,000
714
309
360
6
Seller's
MO
Kansas City
$675,000
$650,000
1113
367
597
3
Seller's
MO
St. Louis
$849,900
$705,500
103
51
140
5
Seller's
NC
Asheville
$1,100,000
$897,500
208
87
108
4
Seller's
NC
Charlotte
$1,150,000
$915,000
546
294
495
3
Seller's
NC
Lake Norman
$1,100,000
$1,075,000
195
88
117
4
Seller's
NC
Raleigh-Durham
$1,044,561
$935,500
410
220
340
2
Seller's
NJ
Ocean County
$909,900
$820,000
464
200
192
12
Seller's
NV
Lake Tahoe
$3,770,000
$2,762,500
152
47
12
46
Buyer's
NV
Las Vegas
$1,688,888
$1,399,999
779
335
147
13
Balanced
NV
Reno
$1,965,000
$1,652,500
121
47
34
49
Seller's
NY
Finger Lakes
$2,099,500
$1,775,000
34
13
7
10
Balanced
NY
Nassau County
$1,822,500
$1,513,511
802
263
174
27
Seller's
NY
Staten Island
$1,250,000
$1,055,000
169
60
38
30
Seller's
NY
Suffolk County
$1,750,000
$1,205,000
957
324
205
23
Seller's
OH
Cincinnati
$865,000
$685,000
201
49
89
2
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
ON
GTA - Durham
$1,699,250
$1,561,500
256
224
106
8
Seller's
ON
GTA - York
$2,280,000
$1,817,500
601
415
164
12
Seller's
ON
Hamilton
$1,849,900
$1,567,950
249
176
50
10
Balanced
ON
Mississauga
$2,899,900
$2,560,250
157
104
34
15
Seller's
ON
Oakville
$2,475,000
$2,400,000
137
106
41
15
Seller's
ON
Toronto
$3,850,000
$3,200,000
461
313
127
8
Seller's
ON
Waterloo Region
$1,450,000
$1,250,000
174
164
97
8
Seller's
OR
Portland
$1,350,000
$1,100,500
579
308
327
5
Seller's
SC
Hilton Head
$1,999,999
$1,608,000
229
64
88
6
Seller's
TN
Greater Chattanooga
$996,950
$805,000
172
72
65
4
Seller's
TN
Nashville
$1,728,400
$1,336,000
558
303
343
3
Seller's
TX
Austin
$1,100,000
$1,000,000
1039
653
451
6
Seller's
TX
Collin County
$764,900
$735,000
1403
893
796
7
Seller's
TX
Dallas
$1,375,000
$1,100,000
413
251
259
6
Seller's
TX
Denton County
$780,000
$725,000
966
606
477
6
Seller's
TX
El Paso
$619,000
$610,000
138
58
48
8
Seller's
TX
Fort Worth
$815,000
$770,525
966
556
489
6
Seller's
TX
Greater Tyler
$712,450
$600,000
164
84
43
10
Seller's
TX
Houston
$975,000
$850,000
1084
474
453
8
Seller's
TX
Lubbock
$662,500
$565,000
80
41
42
48
Seller's
TX
San Angelo
$695,000
$585,000
47
20
15
48
Seller's
TX
San Antonio
$799,000
$735,000
509
252
207
18
Seller's
TX
The Woodlands & Spring
$849,950
$750,000
204
129
194
6
Seller's
UT
Park City
$4,325,000
$3,235,000
184
84
31
20
Balanced
UT
Salt Lake City
$1,125,000
$1,007,000
448
264
155
10
Seller's
VA
Arlington & Alexandria
$2,249,000
$1,807,000
81
40
52
6
Seller's
VA
Charlottesville
$1,295,000
$1,025,000
145
44
67
5
Seller's
VA
Fairfax County
$2,095,000
$1,500,000
347
153
213
6
Seller's
VA
McLean & Vienna
$2,899,000
$1,855,000
154
49
76
6
Seller's
VA
Richmond
$799,950
$789,000
217
90
251
7
Seller's
VA
Smith Mountain Lake
$1,823,250
$1,255,000
36
13
13
5
Seller's
WA
Greater Seattle
$1,850,000
$1,711,500
1213
819
766
5
Seller's
WA
Seattle
$1,877,500
$1,680,000
250
194
227
5
Seller's
WA
Spokane
$1,000,000
$986,500
115
66
48
6
Seller's
Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
AB
Calgary
$799,900
$690,000
166
53
31
31
Balanced
AZ
Chandler and Gilbert
-
-
-
-
-
-
-
AZ
Flagstaff
-
-
-
-
-
-
-
AZ
Mesa
-
-
-
-
-
-
-
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$915,000
$786,500
213
107
90
33
Seller's
AZ
Tucson
-
-
-
-
-
-
-
BC
Mid Vancouver Island
$799,900
$854,450
56
44
16
15
Seller's
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,988,888
$1,699,000
991
365
111
11
Buyer's
BC
Victoria
$1,000,000
$895,000
116
98
73
13
Seller's
CA
Central Coast
$1,240,000
$1,100,000
36
22
19
9
Seller's
CA
East Bay
$1,098,500
$1,128,000
202
155
168
9
Seller's
CA
Greater Palm Springs
-
-
-
-
-
-
-
CA
Lake Tahoe
$1,699,000
$1,207,500
199
99
85
6
Seller's
CA
Los Angeles Beach Cities
$1,995,000
$1,700,000
154
79
89
9
Seller's
CA
Los Angeles City
$1,681,500
$1,550,000
342
132
112
13
Seller's
CA
Los Angeles The Valley
$796,500
$802,100
122
66
117
11
Seller's
CA
Marin County
$1,280,000
$1,151,000
18
7
17
12
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,249,000
$1,050,000
402
237
275
7
Seller's
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,197,000
$1,100,000
346
222
229
7
Seller's
CA
San Francisco
$2,595,000
$2,350,000
119
18
39
15
Seller's
CA
San Luis Obispo County
-
-
-
-
-
-
-
CA
Santa Barbara
$1,447,500
$1,500,000
16
14
16
9
Seller's
CA
Silicon Valley
$1,648,000
$1,590,000
150
91
110
8
Seller's
CA
Sonoma County
$875,000
$750,000
15
6
6
26
Seller's
CA
Ventura County
$750,000
$757,500
110
57
77
21
Seller's
CO
Aspen
$4,672,500
$5,200,000
28
15
6
79
Seller's
CO
Boulder
$866,950
$892,500
86
61
44
43
Seller's
CO
Colorado Springs
-
-
-
-
-
-
-
CO
Denver
$950,000
$800,000
153
80
69
7
Seller's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
State
Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
CO
Douglas County
$557,500
$595,000
20
18
23
6
Seller's
CO
Durango
$1,050,000
$735,000
15
10
9
38
Seller's
CO
Summit County
$1,450,000
$1,225,000
31
13
8
5
Seller's
CO
Telluride
-
-
-
-
-
-
-
CO
Vail
$3,762,500
$3,302,500
68
12
18
15
Seller's
CT
Central Connecticut
-
-
-
-
-
-
-
CT
Coastal Connecticut
$1,195,000
$777,500
184
59
61
23
Seller's
DC
Washington
$1,800,000
$1,546,100
183
84
99
7
Seller's
DE
Sussex County Coastal
$839,000
$837,000
9
6
10
5
Seller's
FL
Boca Raton/Delray Beach
$997,000
$724,000
216
99
99
8
Seller's
FL
Coastal Pinellas County
$1,300,000
$1,100,000
83
36
41
7
Seller's
FL
Greater Fort Lauderdale
$859,000
$750,000
751
285
240
15
Seller's
FL
Jacksonville Beaches
$972,450
$1,200,000
30
20
15
9
Seller's
FL
Lee County
$824,900
$800,000
211
71
129
7
Seller's
FL
Marco Island
$1,749,000
$1,265,000
35
14
15
16
Seller's
FL
Miami
$1,480,000
$1,197,500
1187
318
206
44
Balanced
FL
Naples
$2,150,000
$2,350,000
154
50
70
11
Seller's
FL
Orlando
$574,950
$567,500
186
87
62
5
Seller's
FL
Palm Beach Towns
$1,800,000
$1,349,500
173
55
50
15
Seller's
FL
Sarasota & Beaches
$1,860,000
$1,550,000
135
54
51
5
Seller's
FL
South Pinellas County
$1,050,000
$900,000
162
66
57
5
Seller's
FL
South Walton
$1,585,000
$1,350,000
187
55
41
6
Seller's
FL
Space Coast
$774,900
$664,900
115
58
57
34
Seller's
FL
Tampa
$799,900
$712,500
149
102
76
4
Seller's
FL
Weston
-
-
-
-
-
-
-
GA
Atlanta
$739,900
$660,000
409
215
209
7
Seller's
GA
Duluth
-
-
-
-
-
-
-
HI
Island of Hawaii
$1,612,500
$1,640,000
50
19
30
7
Seller's
HI
Kauai
$2,200,000
$1,252,500
35
7
15
11
Seller's
HI
Maui
$2,000,000
$1,812,500
89
29
42
71
Seller's
HI
Oahu
$1,199,000
$925,000
363
107
148
12
Seller's
ID
Ada County
$617,450
$634,944
54
28
24
7
Seller's
ID
Northern Idaho
-
-
-
-
-
-
-
IL
Chicago
$1,200,000
$950,000
843
346
292
10
Seller's
IL
DuPage County
$931,500
$660,000
22
14
27
6
Seller's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices. Prices shown for Canadian cites are shown in Canadian Dollars.
Luxury Monthly Market Review Attached Homes
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
Lake County
-
-
-
-
-
-
-
IL
Will County
-
-
-
-
-
-
-
IN
Hamilton County
-
-
-
-
-
-
-
KS
Johnson County
$614,500
$672,123
89
30
30
2
Seller's
MA
Cape Cod
$850,000
$1,205,000
28
8
4
9
Buyer's
MA
Greater Boston
$2,275,000
$2,050,000
333
120
150
18
Seller's
MA
South Shore
$862,450
$832,500
12
6
10
19
Seller's
MD
Anne Arundel County
$575,990
$565,000
47
32
61
5
Seller's
MD
Frederick County
-
-
-
-
-
-
-
MD
Howard County
$618,340
$590,000
31
30
37
5
Seller's
MD
Montgomery County
$759,900
$775,000
116
73
100
7
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$635,000
$602,500
55
24
34
5
Seller's
MI
Livingston County
-
-
-
-
-
-
-
MI
Monroe County
-
-
-
-
-
-
-
MI
Oakland County
$697,000
$587,000
70
33
25
10
Seller's
MI
Washtenaw County
$635,995
$599,000
47
21
11
6
Seller's
MI
Wayne County
$634,500
$657,500
102
27
12
8
Buyer's
MN
Olmsted County
-
-
-
-
-
-
-
MN
Twin Cities
-
-
-
-
-
-
-
MO
Kansas City
-
-
-
-
-
-
-
MO
St. Louis
-
-
-
-
-
-
-
NC
Asheville
$860,000
$670,000
31
6
15
4
Seller's
NC
Charlotte
$690,000
$610,000
176
88
105
5
Seller's
NC
Lake Norman
$630,000
$605,000
19
17
12
4
Seller's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$849,900
$940,000
47
21
21
12
Seller's
NV
Lake Tahoe
$1,297,000
$1,262,500
26
9
10
52
Seller's
NV
Las Vegas
-
-
-
-
-
-
-
NV
Reno
-
-
-
-
-
-
-
NY
Finger Lakes
-
-
-
-
-
-
-
NY
Nassau County
$1,499,000
$1,350,000
96
28
23
36
Seller's
NY
Staten Island
$639,500
$609,000
98
38
42
22
Seller's
NY
Suffolk County
$709,000
$594,500
160
62
54
20
Seller's
OH
Cincinnati
$732,500
$744,950
20
3
12
18
Seller's
State
Market Name
IL
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
ON
GTA - Durham
$824,450
$810,000
38
37
25
13
Seller's
ON
GTA - York
$799,000
$740,000
323
240
85
15
Seller's
ON
Hamilton
$875,000
$907,500
19
19
13
13
Seller's
ON
Mississauga
$949,900
$902,500
155
112
48
11
Seller's
ON
Oakville
$1,325,000
$1,216,500
67
65
36
14
Seller's
ON
Toronto
$1,249,450
$1,152,500
926
627
244
11
Seller's
ON
Waterloo Region
$799,000
$745,000
59
68
67
10
Seller's
OR
Portland
$699,000
$600,000
229
96
86
7
Seller's
SC
Hilton Head
$999,000
$994,000
45
17
19
8
Seller's
TN
Greater Chattanooga
-
-
-
-
-
-
-
TN
Nashville
$812,450
$704,000
74
54
105
1
Seller's
TX
Austin
$829,000
$776,000
219
126
80
6
Seller's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$850,000
$650,000
111
59
63
8
Seller's
TX
Denton County
-
-
-
-
-
-
-
TX
El Paso
-
-
-
-
-
-
-
TX
Fort Worth
-
-
-
-
-
-
-
TX
Greater Tyler
-
-
-
-
-
-
-
TX
Houston
$632,450
$575,000
146
74
40
12
Seller's
TX
Lubbock
-
-
-
-
-
-
-
TX
San Angelo
-
-
-
-
-
-
-
TX
San Antonio
$682,500
$610,000
34
9
7
13
Balanced
TX
The Woodlands & Spring
-
-
-
-
-
-
-
UT
Park City
$1,699,500
$1,585,000
108
49
32
4
Seller's
UT
Salt Lake City
$575,000
$525,000
165
101
103
12
Seller's
VA
Arlington & Alexandria
$974,450
$975,000
100
73
80
6
Seller's
VA
Charlottesville
$679,900
$615,000
30
13
8
7
Seller's
VA
Fairfax County
$747,400
$695,000
230
164
230
6
Seller's
VA
McLean & Vienna
$1,208,500
$1,000,301
34
21
16
6
Seller's
VA
Richmond
-
-
-
-
-
-
-
VA
Smith Mountain Lake
-
-
-
-
-
-
-
WA
Greater Seattle
$1,162,990
$1,000,000
279
139
129
5
Seller's
WA
Seattle
$1,434,500
$1,124,440
120
47
32
5
Seller's
WA
Spokane
-
-
-
-
-
-
-
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.
OAHU
|
HAWAII ISLAND
|
MAUI
|
KAUAI
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