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. Both markets are continuing to experience a lack of inventory.
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
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%)
Highest Sold Single-Family Home
Paiko Lagoon, Diamond Head
5 bedrooms | 6 bathrooms | 7,995 sq ft living | 1.096 acres land
Why this property is spectacular: Private and secluded property just minutes from town sits a single level home on a sprawling 47,000 square foot property. Stroll through the beautifully manicured lawn, surrounded by an ancient Hawaiian fish pond and Paiko lagoon. Designed by famed mid-century modern architect Vladmir Ossipoff, this 8,000 square foot mid-century style home features open living spaces and that old Hawaii charm. Open the windows throughout to enjoy those cool Hawaiian breezes and enjoy that indoor/outdoor lifestyle. Gated and private hidden gem!
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%)
Highest Sold Condo
Park Lane, Ala Moana
4 bedrooms | 4.5 baths | 5,668 sq ft living
Why this property is spectacular: One of a kind world-class Grand Penthouse with a panoramic treetop views of Ala Moana Beach park and Waikiki. Connected to the world’s largest outdoor mall with every shopping whim taken care of. Hawaiian Heaven.
Sold at: $27,500,000 after 2 days on market to an investment company.
Source: State Tax Office & Bureau of Conveyances
Pictures from Honolulu Board of Realtors
