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 broken down into four single-family home categories and two condominium price segments.
Single-family home sales for Q4 2021 priced from $1 to $2 million increased 50.6% compared to Q4 2020, with 491 homes sold in the quarter versus 326 homes in the same period a year ago. Months’ supply of inventory decreased 42.4% compared to last year, down to 2 months from 3.6 months.
For single-family homes in the $2 to $3 million range, sales rose from 42 in Q4 2020 to 79 in Q4 2021, 88.1% higher than the year prior. Months’ supply of inventory decreased 63.6% to 3 months from 8.2 months last year.
In the $3 to $5 million range, 44 single-family homes sold in Q4 2021, 131.6% higher than the same quarter last year. Months’ supply of inventory declined by 61.9% to 4.5 months from 11.8 months in Q4 2020.
Eleven single-family homes sold at or above $5 million in Q4 which included six in the Diamond Head and Kahala area, two in Portlock, two in Beachside, and one in Wailupe Beach. The top sale was at $9,000,000 for a home in Kahala. Months’ supply of inventory fell from 26.7 months in Q4 2020 to 15.3 months in the third quarter of 2021.
As for condominiums, there were four sales in Q4 at or above $5 million which included two units at Park Lane and two units at Waiea. The top sale was at $11,500,000 for a unit at Waiea.
Sales in the $800 thousand to $1 million range increased 125.9% in Q4 2021 from Q4 2020, with 131 closed sales in Q4 2021 versus 58 closed sales in the third quarter last year. Months’ supply of inventory was down 60.8% to 2.8 months from 7.2 months in Q4 2020.
Sales for condos priced at $1 million and higher increased 206.7% in Q4 2021 compared to Q4 2020, from 138 sales during Q4 2020 to 45 during Q4 2021. Months’ supply of inventory decreased 65.5% compared to Q4 2020, to 7 months.
Remember that every home and situation is unique. For guidance with your current or future home, contact one of our experienced agents. That’s the Oahu Quarterly Luxury Market Report for this quarter. Check back soon for the latest.
All Data from the HiCentral MLS, Ltd. Report © 2022 ShowingTime.