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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
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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.
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.
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