Single-Family Homes
In January, 11 homes sold at or above $1.8M, a 71% decrease from January of 2022. The median price was $2,300,000, a 6.1% decrease compared to last January. Homes sold more slowly last month, after an average of on 82 days on market. Price per square foot was $888.73. Homes sold for 96.3% of their asking price, on average, and 36% of them sold at or above asking price.
January 2023 vs 2022 for SFH $1.8M+
- #sold: 11 vs 38 in 2022 vs (71% decrease)
- Median price: $2,300,000 vs $2,450,000 in 2022 (6.1% decrease)
- DOM: 82 vs 71 in 2022 (11 days slower)
- Listing/sold ratio: 96.3% vs 102.1% in 2022
- % sold at or above asking: 36% at or above listing vs 63% in 2022
- Price per sq ft: $888.73 vs $1,118.59 in 2022 (20.5% decrease)
Highest Sold Single-Family Home
Beachside, Kailua
6 bedrooms | 6.5 baths | 5,947 sq ft living | 25,797 sq ft land
Why this property is spectacular: This spacious home is set on Castles Beach at Kailua Bay with magnificent views of the ocean, the Mokes, and all the way to Molokai on a clear day. It features 102 linear feet of white sand beach at the end of a cul-de-sac in coveted Kainalu Park. The home has a gourmet kitchen with large center island & walk-in pantry. Photovoltaic, central A/C, gas fireplace and an elevator, and the large downstairs primary bedroom has a view of landscaped yard and Kailua beach.
Condominiums
Although the number of condo sales also decreased, median price increased significantly and condos sold much faster than January 2022. There were 7 luxury condo sales in January, a 30% decrease January of last year. The median price was $3,575,000, a 9.3% increase over last year and the highest since August 2020. On average, condos received 99% of their asking price and sold after 51 days on market, 175 days faster than January 2022. The average price per square foot for luxury condos was $2,122.49, a slight increase over last year.
January 2023 vs 2022 for Condos $1.8M+
- #sold: 7 vs 10 in 2022 (30% decrease)
- Median price: $3,575,000 vs $3,270,000 in 2022 (9.3% increase)
- DOM: 51 vs 226 in 2022 (175 days faster)
- Listing/sold ratio: 99% vs 96.3% in 2022
- % sold at or above asking: 71% at or above listing vs 40% in 2022
- Price per sq ft: $2,122.49 vs. $2,080.40 in 2022 (2% increase)
Highest Sold Condo
Park Lane, Ala Moana
3 bedrooms | 3.5 baths | 3,050 sq ft living
Why this property is spectacular: This residence includes 3 bedrooms, 3.5 baths, den, office space, and plenty of storage space. It is located on the fourth floor and situated in the east-facing corner of the Park Lane. This residence has a spectacular view of the ocean, harbor and Waikiki city views. Enjoy the feel and privacy of a single-family home in a secure condominium setting. Elegantly designed by the renowned designer, ODADA, the residence can be delivered turn-key.
Sold at: $9,999,000 after 25 days on market.
Source: State Tax Office & Bureau of Conveyances
