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The number of luxury single-family homes remained the same as last month at 29. Median price decreased compared to last month.
However, it’s important to note that last month’s median price was the highest since January 2019 and October’s is on par with what we saw in the beginning of this year. Homes sold more slowly than last month, but last month’s DOM was the fastest we’d seen all year.
Luxury condo sales increased compared to September. Median price increased slightly; there was an ultra-luxury sale at Park Lane for $27.5M. Luxury condos sold significantly more slowly than last month. However, it is good to see 3 condos that were on the market for almost 200 days finally sell.
Single-Family Homes
SFH October 23 vs September 23 $1.8M+
- #sold: 29 vs 29 (no change)
- Median price: $2,325,000 vs $2,900,000 (down 19.8%)
- DOM: 75 vs 41 (34 days slower)
- Listing/sold ratio: 96.7% vs 98.2%
- % sold at or above asking: 38% at or above listing vs 45%
- Price per sq ft: $1,044.39 vs $1,070.32 (down 2.4%)
Condominiums
Condos October 23 vs September 23 $1.8M+
- #sold: 10 vs 7 (up 42.8%)
- Median price: $2,210,000 vs $2,175,000 (up 1.6%)
- DOM: 113 vs 37 (76 days slower)
- Listing/sold ratio: 96.4% vs 97.6%
- % sold at or above asking: 30% at or above listing vs 28%
- Price per sq ft: $2,077.87 vs. $1,493.78 (up 39.1%)
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
Sources:
Oahu Luxury Market Update & October 2023 Top Sales
State Tax Office & Bureau of Conveyances
