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.
Aloha and welcome to The Oahu 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. The Oahu luxury home market report is listed into four single-family home categories and two condominium price segments. Single-family home sales for Q3 2020 priced from $1 to $2 million increased 20.5% compared to Q3 2019, with 282 homes sold in the quarter. With the increase in sales, months’ supply of inventory decreased 25.1% compared to 5.1 months last year. For single-family homes in the $2 to $3 million range, sales increased from 31 in Q3 2019 to 32 for Q3 2020, an increase of 3.2% from the year prior. Months’ supply of inventory decreased 20.8% to 11.1 months for the quarter. Twenty-three single-family home sales priced from $3 to $5 million sold in Q3 2020, a near-doubling compared to last year’s twelve homes sold in the third quarter. Months’ supply of inventory declined to 15.1 months from 19.3 months in Q3 2019. Seven single-family homes sold at or above $5 million in Q3 which includes four Windward Oahu homes, two Kahala homes, and one Sunset Area home. The top sale was at $10,488,000 for a home in Beachside. As for condominiums, four units closed in Q3 at or above $5 million which includes three units at Park Lane and one unit at The Ritz-Carlson Residences. The top sale was at $8,300,000 for a unit at Park Lane. Sales in the $800 thousand to $1 million range for Q3 2020 declined 53.4 percent from Q3 2019, falling to just 34 closed sales in Q3 from 73 closed sales in the third quarter last year. Months’ supply of inventory was up 22.7% to 10.4 months.