Home » FEATURED » Market Update: Oahu, Hawaii October 2021

Market Update: Oahu, Hawaii October 2021

October 28, 2021 FEATURED, Luxury Real Estate Market Report

The latest statistics from September 2021 are out for luxury real estate sales across the beautiful island of Oahu, HI, thanks to one of our Luxury Affiliates, Caron B Davis with Caron D Realty International.

Single-Family Homes

The luxury market also shows no signs of slowing down. September marked the 5th month in a row we saw more than 50 luxury home sales. Sales volume increased by 62.5% compared to 2020. Homes continue to sell quickly, after an average of only 48 days on market. Homes sold for an average of 101% of their asking price and a significant portion of them (58%) sold at or above asking price. Median price was $2,538,500, almost the same as September. Even though there was no change in median price, there was a 15% increase in price per square foot to $1049.15 .

Highest Sold Single-Family Home in September

Diamond Head
5 bedrooms | 5.5 baths | 4,707 square feet interior | 21,623square feet land

Why this property is spectacular: This stunning estate, reminiscent of an Italian villa, offers unobstructed, sweeping views of the ocean. Inside, there is a chef’s kitchen, travertine flooring, and wrought-iron balconies.

Sold at: $10,990,500 after 64 days on market to a single man from Nevada

Picture from Honolulu Board of Realtors

Condominiums

There was a dip in condo sales last month – only 8 luxury condos were sold, however, this is on par with the number of sales we saw in the early months of this year. Similar to what we saw with homes, although there was a slight decrease in median price, price per square foot increased by 15% to $1,955.50. The median price was $3,100,000. Condos did sell very quickly, after only 41 days on market, one of the fastest DOM we’ve seen. 25% of the condos sold at or above listing price and overall, condos sold for 97.6% of their list price, on average.

Highest Sold Condo in September

Park Lane, Ala Moana
3 bedrooms | 3.5 baths | 2,716 square feet interior

Why this property is spectacular: This top floor unit of luxurious Park Lane boasts beautiful ocean and mountain views. It features a large lanai, floor-to-ceiling windows, and plenty of space for entertaining.

Sold at: $9,999,999 after 165 days on market.

Picture from Honolulu Board of Realtors

This Market Report has been provided by
Caron B Davis, Caron B Realty International
LuxuryHomes.com Affiliate

Click here to view their profile

Sources:
Caron B Realty – September Luxury market Update for Oahu & Our Neighbor Islands