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Oahu Luxury Market Update & August 2023 Top Sales

Luxury single-family home sales increased by 50% over last month to tie with June of this year for the higher number of homes sold since August 2022. Homes sold for the highest median price since January 2019; over 50% of them sold at or above list price, according to Hawaii luxury real estate agent, Caron B Davis, and information from the Honolulu Board of REALTORS®.

Although there was a decrease in the number of luxury condo sales compared to July, 11 luxury condos sold is higher compared to recent months. There have been fewer than 10 sales each month, except July, since November 2022.

Image: Oahu Luxury Market Update & August 2023 Top Sales – CaronBRealty.com

Single-Family Homes

SFH August 23 vs July 23 $1.8M+

  • #sold: 39 vs 26 (up 50%)
  • Median price: $2,818,000 vs $2,400,000 (up 17.4%)
  • DOM: 54 vs 45 (9 days slower)
  • Listing/sold ratio: 98% vs 99.2%
  • % sold at or above asking: 51% vs 42%
  • Price per sq ft: $1,141.11 vs $993.66 (up 14.8%)
 

Condominiums

Condos August 23 vs July 23 $1.8M+

  • #sold: 11 vs 16 (down 31.2%)
  • Median price: $2,575,000 vs $2,517,500 (up 2.2%)
  • DOM: 80 vs 74 (6 days slower)
  • Listing/sold ratio: 94.1% vs 95.9%
  • % sold at or above asking: 18% vs 25%
  • Price per sq ft: $1,774.89 vs. $1,830.87 (down 3%)

This blog was originally posted on CaronBRealty.com

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

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Source:
Oahu Luxury Market Update & August 2023 Top Sales – CaronBRealty.com
2023 Market Reports, August – Honolulu Board of REALTORS┬« – hicentral.com