Luxury Market Report 2022 Q3

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 Q3 2022 priced from $2 to $3 million declined 16.9% compared to Q3 2021, with 64 homes sold in the quarter versus 77 homes in the same period a year ago. Months’ supply of inventory increased 25.7% compared to last year, increasing to 4.9 months from 3.9 months.

For single-family homes in the $3 to $5 million range, sales fell from 32 in Q3 2021 to 21 in Q3 2022, decreasing 34.4% from the same time last year. Months’
supply of inventory decreased 1.4% to 5.2 months from 5.3 months last year.

In the $5 to $10 million range, 8 single-family homes sold in Q3 2022, down 20% from the 10 homes sold during the same quarter last year. Months’ supply of inventory increased by 49.9% to 14.5 months from 9.7 months in Q3 2021.

One single-family home sold at or above $10 million in Haleiwa during Q3 2022, down from two sales in that price range in Q3 2021. The sale was at $14,000,000 for a home in the Sunset/Velzy area. Months’ supply of inventory fell from 21 months in Q3 2021 to 7 months in the third quarter of 2022.

Condo sales in the $1 to $2.5 million range decreased 11.8% in Q3 2022 from Q3 2021, with 97 closed sales in Q3 2022 versus 110 closed sales in the third quarter last year. Months’ supply of inventory fell 10.3% to 5.9 months from 6.5 months in Q3 2021.

Sales for condos priced at $2.5 million and higher fell to 14 in Q3 2022 compared to 22 sales in Q3 2021, a decline of 36.4%. Months’ supply of inventory fell 25.7% compared to Q3 2021, to 9.9 months from 13.4 months.

Two condos sold at or above $5 million in Q3, one unit at Waiea and one unit at Park Lane. The top sale was at $7,500,000 for a unit at Waiea.

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.

Past Reports

View 2022 Q2 Report >
View 2022 Q1 Report >
View 2021 Q4 Report >
View 2021 Q3 Report >
View 2021 Q2 Report >
View 2021 Q1 Report >