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37.1% to 22 homes sold, down from 35. With a combination of fewer sales and low sample size, months’ of inventory shot up by 85.3% to 17.1 months.
Single-family homes priced from $3 to $5 million – up nicely when Q4 2014 was compared to Q4 2013 – dipped by two homes sold compared to last year, a 14.3% decline. The 12 homes that sold in this range still represent four more than in Q4 2013. Months’ of inventory rose 36.2% to 23.4 months.
In the last quarter of 2015, four homes were sold in our top segment of sin-gle-family homes sold at $5 million or higher. Homes in four Oahu neigh-borhoods were represented: Dowsett, Kahala, Diamond Head and Beachside, including a seller and a buyer repre-sented by LIST Sotheby’s International Realty.
Before we look at luxury condos, here’s a quick view of Oahu’s overall market last year as reported by the Honolulu Board of REALTORS®.
In 2015, 3,455 single-family homes were sold on Oahu, up 5.2% compared to 2014. The median sales price in that category closed the year at $700,000, up 3.7% from 2014.
Meanwhile, 5,028 condominiums were sold in 2015, an increase of 4.5%. The condominium median sales price closed the year at $360,000, representing a 2.9% increase over 2014. In addition, both segments closed the year with less than 3 months of inventory.
The luxury condo market performed well during Q4 2015. Sales in the $800 thousand to $1 million range were up
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.
Single-family home sales for Q4 2015 priced from $1 to $2 million increased 5.5% compared to Q4 2014, with 135 homes sold. This price point has 6.2 months’ supply of inventory, a decrease compared to last year at this time of 3.3% but still ranging within a balanc-ing point for buyers and sellers.
For single-family homes in the $2 to $3 million range, sales decreased by
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
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
2012 # $
JAPAN 27 $37,331,600
CANADA 6 $7,320,000
CHINA 3 $4,101,125
KOREA 3 $3,785,000
FOREIGN INVESTMENT
$1 - $2 MILLION
$2 MILLION +
Source: Title Guaranty Hawaii
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
2012 # $
JAPAN 16 $52,713,800
CANADA 3 $9,134,200
TAIWAN 2 $8,038,005
AUSTRALIA 2 $4,850,000
2015 # $
JAPAN 17 $50,565,500
HONG KONG 3 $7,340,000
CANADA 2 $6,183,750
SINGAPORE 1 $3,250,000
2015 # $
JAPAN 30 $42,256,250
CANADA 4 $4,643,750
CHINA 3 $3,795,000
HONG KONG 3 $3,778,725
KOREA 2 $2,370,000
Data as of 11/30/15
4th Quarter 2015
All Data from the HiCentral MLS, Ltd. Powered by ShowingTime 10K. Visit www.ListSothebysRealty.com | 2
SALES ACTIVITY
Metric Year $1 - 2Million
$2 - 3Million
$3 - 5Million
$5Million +
$800,000 -$1 Million
$1Million +
CLOSED SALES
2010 306 40 23 10 70 110
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 606 83 43 18 213 164
MEDIAN SALES PRICE(in millions)
2010 $1.25 $2.45 $3.60 $6.95 $0.88 $1.63
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 $2.40 $3.50 $7.95 $0.88 $1.32
MONTHS SUPPLYOF INVENTORY
2010 8.5 19.5 21.0 29.6 11.0 13.1
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 9.2 17.2 33.2 7.5 13.8
2015 6.2 17.1 23.4 38.4 8.1 19.3
SINGLE-FAMILY CONDO
SINGLE FAMILY & CONDO
CONDOMINIUM
HISTORICAL GRAPH
HISTORICAL GRAPH
$1 Million + Q4 2006 Q4 2009 Q4 2012 Q4 2015
Closed Sales
Median Sales Price
Months Supply of Inventory
$1 Million + Q4 2006 Q4 2009 Q4 2012 Q4 2015
Closed Sales
Median Sales Price
Months Supply of Inventory
All Data from the HiCentral MLS, Ltd. Powered by ShowingTime 10K. Visit www.ListSothebysRealty.com | 3
36.4% compared to Q4 2014. Months’ supply of inventory was up by 6.8% to 8.1 months.
Q4 2015 sales for condos priced at $1 million and higher decreased by 18.6% compared to Q4 2014, but the 35 closed sales total was still higher than the 28 that sold in this range during Q4 2013. Months’ of inventory rose to 19.3, an increase of 39.5%. Inventory is certainly available for those in the market.
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 2015 Median Sales Price
2014 Median Sales Price
2013 Median Sales Price
2012 Median Sales Price
2011 Median Sales Price
2010 Median Sales Price
Aina Haina Beach $1,395,000 $2,700,000 $900,000 - $2,000,000 $3,350,000
Beachside $2,217,500 $1,922,500 $1,807,500 $1,615,000 $1,687,500 $1,712,500
Black Point $3,350,000 $1,800,000 $6,200,000 $2,400,000 $2,210,000 $3,375,000
Diamond Head $2,875,000 $2,288,888 $2,200,000 $2,150,000 $2,062,500 $2,075,000
Dowsett $1,255,000 $1,333,000 $1,015,000 $977,500 $1,155,000 $950,000
Hawaii Loa Ridge $2,100,000 $2,540,000 $1,946,500 $1,781,000 $1,590,000 $1,633,750
Hillcrest $1,061,000 $974,500 $1,200,000 $917,875 $980,000 $904,000
Kahala Area $2,200,000 $2,200,000 $1,940,000 $1,925,000 $1,790,000 $1,600,000
Kamehame Ridge $1,152,500 $830,000 $1,268,888 $1,250,000 $1,000,300 $1,115,000
Koko Kai $2,425,000 $2,520,000 $1,990,000 $2,200,000 $1,701,250 $2,700,000
Lanikai $1,807,500 $2,745,750 $1,665,000 $1,525,000 $1,295,000 $1,682,500
Makiki Heights $1,575,000 $1,590,000 $1,125,000 $1,078,578 $1,875,000 $927,500
Manoa Area $1,214,617 $999,000 $1,150,000 $999,999 $975,000 $950,000
Manoa-Woodlawn $1,134,750 $1,126,500 $1,049,500 $949,000 $815,000 $899,500
Maunalani Heights $1,100,000 $981,500 $1,150,000 $950,000 $1,425,000 $1,088,000
Napali Haweo $1,650,000 $1,660,000 $1,670,000 $1,900,000 $1,407,500 $1,321,500
Niu Beach $3,420,000 $2,408,000 $4,050,000 $1,850,000 $2,400,000 $1,840,000
Pacific Heights $999,000 $1,330,750 $752,500 $950,000 $720,000 $1,146,100
Paiko Lagoon $1,155,000 $2,400,000 $1,050,000 $2,270,000 $3,150,000 $2,500,000
Portlock $2,700,000 - $2,875,000 $3,100,000 $3,175,000 $2,183,500
Puupanini $998,500 $1,299,000 $872,000 $970,000 $1,162,500 $1,100,000
Tantalus $1,700,000 $1,050,000 $1,108,000 $770,000 $1,200,000 -
Triangle $1,312,500 $1,225,000 $1,215,000 $1,059,500 $919,500 $925,000
Waialae Golf Course $2,410,000 $2,125,000 $3,350,000 $1,530,000 $4,650,000 $2,300,000
Waialae Iki $1,630,000 $1,625,000 $1,487,500 $1,294,375 $1,250,000 $1,300,000
Waialae Nui Ridge $1,362,500 $1,248,888 $1,220,000 $1,040,000 $940,000 $925,000
Wailupe Area $1,770,000 $2,200,000 $1,775,000 $1,900,000 $1,350,000 $1,530,000
OAHU LUXURY NEIGHBORHOOD DETAIL
CONTINUED FROM PAGE 1
dash = no sales in the time period
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All Data from the HiCentral MLS, Ltd. Powered by ShowingTime 10K. 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®
70 75 85
120
165
213
2010 2011 2012 2013 2014 2015
+37.5%+41.2%+13.3%+7.1% +29.1%
110 113 117
150
182164
2010 2011 2012 2013 2014 2015
+21.3%+28.2%+3.5%+2.7% -9.9%
306 320 348
471 496
606
2010 2011 2012 2013 2014 2015
+5.3%+35.3%+8.7%+4.6% +22.2%
40 39
64 64
100
83
2010 2011 2012 2013 2014 2015
+56.3%0.0%+64.1%-2.5% -17.0%
2328
34 32
4643
2010 2011 2012 2013 2014 2015
+43.8%-5.9%+21.4%+21.7% -6.5%
10 9 10
1416
18
2010 2011 2012 2013 2014 2015
+14.3%+40.0%+11.1%-10.0% +12.5%
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