There was a dip in luxury home sales, following a pattern seen in July 2022 and July 2021, but homes sold in the shortest amount of time for all of 2023. The luxury condo saw a surge in sales last month. Significantly higher than other months this year and the highest since October 2022.
Whether you are selling or buying, it’s essential to work with an experienced, knowledgeable realtor who can guide you through the current market. Expert pricing and negotiation are key strengths of the realtors at Caron B Realty and have allowed us to bring record-breaking sales and multiple offers on our client’s listings. To discuss the market in your area or the value of your home, please call our office at (808) 593-9826 or email concierge@caronb.com
Single-Family Homes
July 2023 vs. June 2023 for SFH $1.8M+
- #sold: 26 vs 39 (down 33.3%)
- Median price: $2,400,000 vs $2,200,000 (up 9%)
- DOM: 45 vs 52 (7 days faster)
- Listing/sold ratio: 99.2% vs 99.1%
- % sold at or above asking: 42% at or above listing vs 49%
- Price per sq ft: $993.66 vs $1,050.67 (down 5.4%)
Highest Sold Single-Family Home
Lanikai, Kailua
6 bedrooms | 5.5 baths | 4,839 sq ft living | 16,125 sq ft land
Why this property is spectacular: Located just steps away from the White Sand Beach of Lanikai , this luxury home represents quintessential beach living at its finest. Downstairs features open plan living, dining and gourmet kitchen flowing out to a covered alfresco area and phenomenal entertaining space. The perfect home to come to after a day of work, days of swimming, paddle boarding, surfing or relaxing at this world-famous beach.
Condominiums
July 2023 vs June 2023 for Condos $1.8M+
- #sold: 16 vs 5 (up 220%)
- Median price: $2,517,500 vs $2,600,000 (down 3.1%)
- DOM: 74 vs 71 (3 days slower)
- Listing/sold ratio: 95.9% vs 93.4%
- % sold at or above asking: 25% at or above listing vs 0%
- Price per sq ft: $1,830.87 vs. $1,839.63 (no change)
Highest Sold Condo
Diamond Head Apartments
3 bedrooms | 2.5 baths | 2,749 sq ft living
Why this property is spectacular: Meticulous craftsmanship throughout shows true artistry in every room. There are numerous exquisite details in this beautiful unit, which include Goncalo Alves, “Tigerwood” mahogany flooring w/ash wood inlays; solid mahogany doors w/inlaid walnut panels; honed marble masterfully laid; mahogany crown moldings & baseboards; custom cabinetry & thoughtful built-ins; coffered ceilings; white onyx counter in guest areas; & rain forest granite.
Sold at: $5,500,000 after 157 days on market to local buyers.
Source: State Tax Office & Bureau of Conveyances
