FOREIGN INVESTMENT - listsothebysrealty.com · Luxury Market Report from LIST Sotheby’s...
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All Data from the HiCentral MLS, Ltd. Report © 2016 ShowingTime. Visit www.ListSothebysRealty.com | 1 For single-family homes in the $2 to $3 million range, sales decreased by 9.5% to 76 homes sold, down from 84 for all of 2015, and 24.0% fewer than those sold in 2014. Months’ supply of inventory was down by 10.6% to 12.7 months for the quarter, which might help to explain the lower sales count. Single-family homes priced from $3 to $5 million decreased by 48.8% com- pared to last year, with 22 homes sold so far this year versus 43 homes in all of 2015. Months’ supply of inventory increased by 14.1% to 28.0 months. In the third quarter of 2016, there were 3 sales over $5 million for a total of 14 year to date, including homes in the Diamond Head and Kahala neighborhoods. Before we look at luxury condos, here’s a quick view of Oahu’s overall market for September 2016 as reported by the Honolulu Board of REALTORS®. Over the first nine months of 2016, 2,723 single-family homes were sold on Oahu, up 4.8% compared to the same period last year. The median sales price for single-family homes closed Q3 2016 at $732,000, up 5.2% over 2015. Meanwhile, 4,133 condominiums were sold in the first nine months of this year, an increase of 9.0%, with the median sales price for condominiums closing at $386,000, representing a 9.0% increase. Both segments continue to report 3 months or less of inventory. The luxury condo market through Q3 2016 shows that sales in the $800 CONTINUED ON PAGE 3 Aloha and welcome to The Quarterly Luxury Market Report from LIST Sotheby’s International Realty, where we take a closer look at the most recent real estate activity here on Oahu. Our report breaks the Oahu luxury home market into four single-fam- ily home and two condominium price segments. As of Q3, single-family home sales for Q3 2016 priced from $1 to $2 mil- lion are down by 13.3% compared to all 2015 sales, with 527 homes sold. Nonetheless, the year-to-date sales in this category still exceeds all homes sold in this segment in 2014. This price point has 6.9 months’ supply of inven- tory, a decrease of 4.7% compared to last year at this time. FOREIGN INVESTMENT 2015 # $ JAPAN 31 $43,456,250 HONG KONG 4 $5,183,725 CANADA 4 $4,643,750 CHINA 3 $3,795,000 KOREA 2 $2,370,000 $1 - $2 MILLION $2 MILLION + Source: Title Guaranty Hawaii, August 30, 2016 2014 # $ JAPAN 38 $113,876,299 SINGAPORE 7 $45,290,355 CHINA 4 $17,238,890 AUSTRALIA 4 $14,498,800 HONG KONG 1 $2,350,000 2013 # $ JAPAN 21 $56,616,300 HONG KONG 4 $9,575,000 AUSTRALIA 2 $8,450,000 SINGAPORE 1 $3,300,000 BRAZIL 1 $3,000,000 2015 # $ JAPAN 18 $50,565,500 CHINA 2 $7,400,000 HONG KONG 3 $7,340,000 CANADA 2 $6,183,750 2016 # $ JAPAN 111 $166,509,866 CANADA 7 $9,040,000 CHINA 4 $6,275,100 AUSTRALIA 3 $4,672,200 KOREA 1 $4,137,700 2013 # $ JAPAN 28 $39,859,700 HONG KONG 4 $5,320,000 CHINA 3 $5,120,000 CANADA 2 $2,601,708 SINGAPORE 2 $2,460,000 2014 # $ JAPAN 47 $63,383,000 KOREA 5 $8,050,000 CHINA 4 $5,312,566 HONG KONG 4 $5,045,600 CANADA 3 $4,079,000 2016 # $ JAPAN 49 $165,283,981 HONG KONG 3 $10,068,494 CHINA 2 $9,329,600 VIRGIN IS. 2 $4,798,600
Transcript of FOREIGN INVESTMENT - listsothebysrealty.com · Luxury Market Report from LIST Sotheby’s...
All Data from the HiCentral MLS, Ltd. Report © 2016 ShowingTime. Visit www.ListSothebysRealty.com | 1
For single-family homes in the $2 to $3 million range, sales decreased by 9.5% to 76 homes sold, down from 84 for all of 2015, and 24.0% fewer than those sold in 2014. Months’ supply of inventory was down by 10.6% to 12.7 months for the quarter, which might help to explain the lower sales count.
Single-family homes priced from $3 to $5 million decreased by 48.8% com-pared to last year, with 22 homes sold so far this year versus 43 homes in all of 2015. Months’ supply of inventory increased by 14.1% to 28.0 months.
In the third quarter of 2016, there were 3 sales over $5 million for a total of 14 year to date, including homes in the Diamond Head and Kahala neighborhoods.
Before we look at luxury condos, here’s a quick view of Oahu’s overall market for September 2016 as reported by the Honolulu Board of REALTORS®.
Over the first nine months of 2016, 2,723 single-family homes were sold on Oahu, up 4.8% compared to the same period last year. The median sales price for single-family homes closed Q3 2016 at $732,000, up 5.2% over 2015.
Meanwhile, 4,133 condominiums were sold in the first nine months of this year, an increase of 9.0%, with the median sales price for condominiums closing at $386,000, representing a 9.0% increase. Both segments continue to report 3 months or less of inventory.
The luxury condo market through Q3 2016 shows that sales in the $800
CONTINUED ON PAGE 3
Aloha and welcome to The Quarterly Luxury Market Report from LIST Sotheby’s International Realty, where we take a closer look at the most recent real estate activity here on Oahu.
Our report breaks the Oahu luxury home market into four single-fam-ily home and two condominium price segments.
As of Q3, single-family home sales for Q3 2016 priced from $1 to $2 mil-lion are down by 13.3% compared to all 2015 sales, with 527 homes sold. Nonetheless, the year-to-date sales in this category still exceeds all homes sold in this segment in 2014. This price point has 6.9 months’ supply of inven-tory, a decrease of 4.7% compared to last year at this time.
FOREIGN INVESTMENT
2015 # $
JAPAN 31 $43,456,250
HONG KONG 4 $5,183,725
CANADA 4 $4,643,750
CHINA 3 $3,795,000
KOREA 2 $2,370,000
$1 - $2 MILLION
$2 MILLION +
Source: Title Guaranty Hawaii, August 30, 2016
2014 # $
JAPAN 38 $113,876,299
SINGAPORE 7 $45,290,355
CHINA 4 $17,238,890
AUSTRALIA 4 $14,498,800
HONG KONG 1 $2,350,000
2013 # $
JAPAN 21 $56,616,300
HONG KONG 4 $9,575,000
AUSTRALIA 2 $8,450,000
SINGAPORE 1 $3,300,000
BRAZIL 1 $3,000,000
2015 # $
JAPAN 18 $50,565,500
CHINA 2 $7,400,000
HONG KONG 3 $7,340,000
CANADA 2 $6,183,750
2016 # $
JAPAN 111 $166,509,866
CANADA 7 $9,040,000
CHINA 4 $6,275,100
AUSTRALIA 3 $4,672,200
KOREA 1 $4,137,700
2013 # $
JAPAN 28 $39,859,700
HONG KONG 4 $5,320,000
CHINA 3 $5,120,000
CANADA 2 $2,601,708
SINGAPORE 2 $2,460,000
2014 # $
JAPAN 47 $63,383,000
KOREA 5 $8,050,000
CHINA 4 $5,312,566
HONG KONG 4 $5,045,600
CANADA 3 $4,079,000
2016 # $
JAPAN 49 $165,283,981
HONG KONG 3 $10,068,494
CHINA 2 $9,329,600
VIRGIN IS. 2 $4,798,600
All Data from the HiCentral MLS, Ltd. Report © 2016 ShowingTime. Visit www.ListSothebysRealty.com | 1
For single-family homes in the $2 to $3 million range, sales decreased by 9.5% to 76 homes sold, down from 84 for all of 2015, and 24.0% fewer than those sold in 2014. Months’ supply of inventory was down by 10.6% to 12.7 months for the quarter, which might help to explain the lower sales count.
Single-family homes priced from $3 to $5 million decreased by 48.8% com-pared to last year, with 22 homes sold so far this year versus 43 homes in all of 2015. Months’ supply of inventory increased by 14.1% to 28.0 months.
In the third quarter of 2016, there were 3 sales over $5 million for a total of 14 year to date, including homes in the Diamond Head and Kahala neighborhoods.
Before we look at luxury condos, here’s a quick view of Oahu’s overall market for September 2016 as reported by the Honolulu Board of REALTORS®.
Over the first nine months of 2016, 2,723 single-family homes were sold on Oahu, up 4.8% compared to the same period last year. The median sales price for single-family homes closed Q3 2016 at $732,000, up 5.2% over 2015.
Meanwhile, 4,133 condominiums were sold in the first nine months of this year, an increase of 9.0%, with the median sales price for condominiums closing at $386,000, representing a 9.0% increase. Both segments continue to report 3 months or less of inventory.
The luxury condo market through Q3 2016 shows that sales in the $800
CONTINUED ON PAGE 3
Aloha and welcome to The Quarterly Luxury Market Report from LIST Sotheby’s International Realty, where we take a closer look at the most recent real estate activity here on Oahu.
Our report breaks the Oahu luxury home market into four single-fam-ily home and two condominium price segments.
As of Q3, single-family home sales for Q3 2016 priced from $1 to $2 mil-lion are down by 13.3% compared to all 2015 sales, with 527 homes sold. Nonetheless, the year-to-date sales in this category still exceeds all homes sold in this segment in 2014. This price point has 6.9 months’ supply of inven-tory, a decrease of 4.7% compared to last year at this time.
FOREIGN INVESTMENT
2015 # $
JAPAN 31 $43,456,250
HONG KONG 4 $5,183,725
CANADA 4 $4,643,750
CHINA 3 $3,795,000
KOREA 2 $2,370,000
$1 - $2 MILLION
$2 MILLION +
Source: Title Guaranty Hawaii, August 30, 2016
2014 # $
JAPAN 38 $113,876,299
SINGAPORE 7 $45,290,355
CHINA 4 $17,238,890
AUSTRALIA 4 $14,498,800
HONG KONG 1 $2,350,000
2013 # $
JAPAN 21 $56,616,300
HONG KONG 4 $9,575,000
AUSTRALIA 2 $8,450,000
SINGAPORE 1 $3,300,000
BRAZIL 1 $3,000,000
2015 # $
JAPAN 18 $50,565,500
CHINA 2 $7,400,000
HONG KONG 3 $7,340,000
CANADA 2 $6,183,750
2016 # $
JAPAN 111 $166,509,866
CANADA 7 $9,040,000
CHINA 4 $6,275,100
AUSTRALIA 3 $4,672,200
KOREA 1 $4,137,700
2013 # $
JAPAN 28 $39,859,700
HONG KONG 4 $5,320,000
CHINA 3 $5,120,000
CANADA 2 $2,601,708
SINGAPORE 2 $2,460,000
2014 # $
JAPAN 47 $63,383,000
KOREA 5 $8,050,000
CHINA 4 $5,312,566
HONG KONG 4 $5,045,600
CANADA 3 $4,079,000
2016 # $
JAPAN 49 $165,283,981
HONG KONG 3 $10,068,494
CHINA 2 $9,329,600
VIRGIN IS. 2 $4,798,600
All Data from the HiCentral MLS, Ltd. Report © 2016 ShowingTime. Visit www.ListSothebysRealty.com | 2
SALES ACTIVITY
Metric Year $1 - 2Million
$2 - 3Million
$3 - 5Million
$5Million +
$800,000 -$1 Million
$1Million +
CLOSED SALES
2011 320 39 28 9 75 113
2012 348 64 34 10 85 117
2013 471 64 32 14 120 150
2014 496 100 46 16 165 182
2015 608 84 43 18 213 164
2016 YTD 527 76 22 14 174 164
MEDIAN SALES PRICE(in millions)
2011 $1.25 $2.35 $3.40 $6.10 $0.90 $1.55
2012 $1.26 $2.25 $3.51 $6.73 $0.90 $1.35
2013 $1.28 $2.35 $3.48 $9.00 $0.88 $1.31
2014 $1.26 $2.30 $3.86 $6.40 $0.88 $1.43
2015 $1.28 $2.37 $3.50 $7.95 $0.88 $1.32
2016 YTD $1.25 $2.34 $3.50 $6.53 $0.87 $1.36
MONTHS SUPPLYOF INVENTORY
2011 8.4 19.1 18.6 37.6 10.3 15.7
2012 4.2 9.3 15.2 20.0 7.1 9.2
2013 7.0 14.8 20.2 21.0 7.7 14.2
2014 6.4 9.4 17.0 33.2 7.5 13.8
2015 6.3 17.9 21.8 37.2 8.3 18.7
2016 YTD 6.9 12.7 28.0 26.7 6.8 17.8
SINGLE-FAMILY CONDO
SINGLE FAMILY & CONDO
CONDOMINIUM
HISTORICAL GRAPH
HISTORICAL GRAPH
$1 Million + Q3 2007 Q3 2010 Q3 2013 Q3 2016
Closed Sales
Median Sales Price
Months Supply of Inventory
$1 Million + Q3 2007 Q3 2010 Q3 2013 Q3 2016
Closed Sales
Median Sales Price
Months Supply of Inventory
All Data from the HiCentral MLS, Ltd. Report © 2016 ShowingTime. Visit www.ListSothebysRealty.com | 3
thousand to $1 million range outpaced all of 2014 by 5.5% yet are falling short of 2015 by 18.3% at this juncture. There is still one quarter remaining to catch up to or surpass the 2015 total. Months’ of inventory was down 24.1% to 6.8 months.
Sales for condos priced at $1 million and higher remains stable at 164 units through Q3 2016, matching the full-year total for 2015. Months’ of inven-tory increased by 2.7% to 17.8 months compared to Q3 2015.
Remember that every home and situ-ation is unique. For specific guidance with your current or future home, visit listsothebysrealty.com.
That’s the Oahu Quarterly Luxury Market Report for this quarter. Check back soon for the latest.
Neighborhoods 2016 YTD Median Sales Price
2015 Median Sales Price
2014 Median Sales Price
2013 Median Sales Price
2012 Median Sales Price
2011 Median Sales Price
Aina Haina Beach $1,200,000 $1,395,000 $2,700,000 $900,000 – $2,000,000
Beachside $2,875,000 $2,217,500 $1,922,500 $1,807,500 $1,615,000 $1,687,500
Black Point $2,175,000 $3,350,000 $1,800,000 $6,200,000 $2,400,000 $2,210,000
Diamond Head $2,934,000 $2,875,000 $2,288,888 $2,200,000 $2,150,000 $2,062,500
Dowsett $1,350,000 $1,255,000 $1,333,000 $1,015,000 $977,500 $1,155,000
Hawaii Loa Ridge $2,150,000 $2,100,000 $2,540,000 $1,946,500 $1,781,000 $1,590,000
Hillcrest $1,030,000 $1,061,000 $1,000,000 $1,200,000 $917,875 $980,000
Kahala Area $2,600,000 $2,200,000 $2,200,000 $1,940,000 $1,925,000 $1,790,000
Kamehame Ridge $1,587,500 $1,152,500 $830,000 $1,268,888 $1,250,000 $1,000,300
Koko Kai $2,271,500 $2,425,000 $2,520,000 $1,990,000 $2,200,000 $1,701,250
Lanikai $2,295,000 $1,807,500 $2,745,750 $1,665,000 $1,525,000 $1,295,000
Makiki Heights $1,385,000 $1,575,000 $1,590,000 $1,125,000 $1,078,578 $1,875,000
Manoa Area $1,110,000 $1,214,617 $999,000 $1,150,000 $999,999 $975,000
Manoa-Woodlawn $1,245,500 $1,134,750 $1,126,500 $1,049,500 $949,000 $815,000
Maunalani Heights $1,279,000 $1,100,000 $981,500 $1,150,000 $950,000 $1,425,000
Napali Haweo $1,445,000 $1,650,000 $1,660,000 $1,670,000 $1,900,000 $1,407,500
Niu Beach $2,200,000 $3,420,000 $2,408,000 $4,050,000 $1,850,000 $2,400,000
Pacific Heights $1,000,630 $999,000 $1,499,000 $752,500 $950,000 $720,000
Paiko Lagoon $1,742,500 $1,155,000 $2,400,000 $1,050,000 $2,270,000 $3,150,000
Portlock $2,035,000 $2,700,000 – $2,875,000 $3,100,000 $3,175,000
Puupanini $987,000 $998,500 $1,299,000 $872,000 $970,000 $1,162,500
Tantalus $1,350,000 $1,700,000 $1,050,000 $1,108,000 $770,000 $1,200,000
Triangle $1,462,500 $1,312,500 $1,225,000 $1,215,000 $1,059,500 $919,500
Waialae Golf Course $1,853,500 $2,410,000 $2,125,000 $3,350,000 $1,530,000 $4,650,000
Waialae Iki $1,685,000 $1,630,000 $1,625,000 $1,487,500 $1,294,375 $1,250,000
Waialae Nui Ridge $1,472,500 $1,362,500 $1,248,888 $1,220,000 $1,040,000 $940,000
Wailupe Area $2,100,000 $1,770,000 $2,200,000 $1,775,000 $1,900,000 $1,350,000
OAHU LUXURY NEIGHBORHOOD DETAIL THROUGH THIRD QUARTER 2016
CONTINUED FROM PAGE 1
dash = no sales in the time period
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All Data from the HiCentral MLS, Ltd. Report © 2016 ShowingTime. Visit www.ListSothebysRealty.com | 4
CLOSED SALES
SINGLE FAMILY CONDOMINIUM$1 - $2 MILLION $800 THOUSAND - $1 MILLION
$1 MILLION +$3 - $5 MILLION
$2 - $3 MILLION
$5 MILLION +
LIST Sotheby’s International Realty4211 Waialae Avenue, Suite 100 | Honolulu, HI 96816(808) 735-2411
ARTFULLY UNITING EXTRAORDINARY HOMES WITH EXTRAORDINARY LIVES®
320 348
471 496
608527
2011 2012 2013 2014 2015 2016 YTD
9 10
1416
18
14
2011 2012 2013 2014 2015 2016 YTD
39
64 64
10084
76
2011 2012 2013 2014 2015 2016 YTD
2834 32
4643
22
2011 2012 2013 2014 2015 2016 YTD
-6.5%+43.8%-5.9%+21.4%
-16.0%+56.3%0.0%+64.1%+22.6%+5.3%+35.3%+8.7%
+12.5%+14.3%+40.0%+11.1%
-13.3%
-22.2%
-9.5%
-48.8%
75 85
120
165
213
174
2011 2012 2013 2014 2015 2016 YTD
113 117
150
182164 164
2011 2012 2013 2014 2015 2016 YTD
+29.1%+37.5%+41.2%+13.3%
-9.9%+21.3%+28.2%+3.5%
-18.3%
0.0%
