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 Q2 2022 priced from $2 to $3 million decreased 8% compared to Q2 2021, with 81 homes sold in the quarter versus 88 homes in the same period a year ago. Months’ supply of inventory increased 28.2% compared to last year, up to 4.7 months from 3.7 months.
For single-family homes in the $3 to $5 million range, sales rose from 30 in Q2 2021 to 38 in Q2 2022, increasing 26.7% than the year prior. Months’ supply of inventory decreased 24.8% to 5.2 months from 6.9 months last year.
In the $5 to $10 million range, 9 single-family homes sold in Q2 2022, down 18.2% from the same quarter last year. Months’ supply of inventory declined by 3.9% to 12 months from 12.5 months in Q2 2021.
Four single-family homes sold at or above $10 million in Q2, which includes one sale apiece in Kailua, Kahala, Diamond Head, and Portlock. The top sale was a $12,800,000 home in the Beachside neighborhood of Kailua. Months’ supply of inventory fell from 30 months in Q2 2021 to 11.1 months in the second quarter of 2022.
Condo sales in the $1 to $2.5 million range increased 40.4% in Q2 2022 from Q2 2021, with 160 closed sales in Q2 2022 versus 114 closed sales in the second quarter last year. Months’ supply of inventory fell 38.1% to 5.1 months from 8.3 months in Q2 2021.
Sales for condos priced at $2.5 million and higher remained at the same level in Q2 2022 compared to Q2 2021, with a total of 21 sales for the quarter. Months’ supply of inventory fell 32% compared to Q2 2021, to 10.3 months from 15.1 months the same quarter last year.
Four condos sold at or above $5 million in Q2 which includes three units at Park Lane and one unit at Hokua. The top sale was at $12,150,000 for a unit at Park Lane.
Remember that every home and situation is unique. For guidance with your current or future home, visit listsothebysrealty.com and 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.