Luxury Market Report 2023 Q4

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 2023 priced from $2 to $3 million declined 20% compared to Q4 2022, with 32 homes sold in the fourth quarter of 2023 compared to 40 homes sold during the same period a year ago. Months’ supply of inventory increased 55.1% compared to last year, rising to 7.6 months in Q4 2023 from 4.9 months in Q4 2022.

For single-family homes in the $3 to $5 million range, sales fell from 18 in Q4 2022 to 14 in Q4 2023, a decrease of 22.2% from the same time last year. Months’ supply of inventory increased 48.6% to 10.4 months from 7 months last year.

In the $5 to $10 million range, eight single-family homes sold in Q4 2023, up slightly from the seven homes sold during the same quarter last year. Months’ supply of inventory decreased 8% to 12.6 months from 13.7 months in Q4 2022.

There were no single-family homes sold at or above $10 million in Q4 2023, which remained unchanged from Q4 2022. Months’ supply of inventory rose from 9.6 months in Q4 2022 to 20 months in Q4 2023.

Condo sales in the $1 to $2.5 million range decreased 9.7% in Q4 2023 from Q4 2022, with 84 closed sales in the fourth quarter of 2023 versus 93 closed sales in the fourth quarter the year prior. Months’ supply of inventory increased slightly to 7.8 months from 7.5 months in Q4 2022.

Fourteen condos priced at $2.5 million and higher sold in Q4 2023, a decrease of 22.2% compared to the eighteen sales in Q 2022. Months’ supply of inventory increased 53.6% compared to Q4 2022, to 16.9 months, from 11 months the same quarter last year.

Six condos sold at or above $5 million in Q4 2023, with five units at Park Lane and one unit at the Ocean Villas at Turtle Bay. The top sale was at $27,500,000 for a unit at Park Lane.

Remember that every home and situation is unique. For guidance with your currentor 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 © 2023 ShowingTime.

Past Reports

View 2023 Q3 Report >
View 2023 Q2 Report >
View 2023 Q1 Report >
View 2022 Q4 Report >
View 2022 Q3 Report >
View 2022 Q2 Report >
View 2022 Q1 Report >
View 2021 Q4 Report >
View 2021 Q3 Report >
View 2021 Q2 Report >
View 2021 Q1 Report >