Market activity increased in May compared to April; we continue to share statistics that compare last month with the month previous instead of the same month in the previous year. The luxury home market is up compared to April, though interest rates are still affecting buyers. Median price for luxury homes was the highest since April 2022 and since August 2020 for luxury condos.
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
May 2023 vs. April 2023 for SFH $1.8M+
- #sold: 32 vs 25 (up 28%)
- Median price: $2,575,000 vs $2,400,000 (up 7.3%)
- DOM: 61 vs 63 (2 days faster)
- Listing/sold ratio: 95.8% vs 97.5%
- % sold at or above asking: 25% at or above listing vs 44%
- Price per sq ft: $1,103.51 vs $973.22 (up 13.4%)
Highest Sold Single-Family Home
Lanikai, Kailua
6 bedrooms | 4.5 baths | 4,098 sq ft living | 13,309 sq ft land
Why this property is spectacular: Boasting the best and widest white sandy beachfront, this remodeled residence offers unparalleled oceanfront living. Designed with beachside living in mind, seamless indoor-outdoor living with pocket sliding glass door-wall with screens that open to the beachside deck, a perfect space for entertaining.
Condominiums
May 2023 vs April 2023 for Condos $1.8M+
- #sold: 8 vs 9 (down 11.1%)
- Median price: $3,825,000 vs $2,800,000 (up 36.6%)
- DOM: 127 vs 83 (44 days slower)
- Listing/sold ratio: 98.5% vs 97.6%
- % sold at or above asking: 37% at or above listing vs 44%
- Price per sq ft: $2,394.13 vs. $1,995.47 (up 20%)
Highest Sold Condo
Park Lane, Ala Moana
3 bedrooms | 3.5 baths | 2,755 sq ft living
Why this property is spectacular: Rarely available high floor residence at Honolulu’s preeminent, luxury residential property! Enjoy Park Lane’s abundant amenities, including barbecue cabanas, a fitness center, steam sauna, pool and hot tub, children’s play area, theatre, and dog park!
Sold at: $10,000,000 after 213 days on market to an investor from California.
Source: State Tax Office & Bureau of Conveyances
