Oahu Luxury Home Sales are the Highest in Almost a Year
Oahu’s luxury real estate market sales for June 2023 have increased to the highest numbers in 10 months, according to a recent market update from Caron B Realty International.
“The luxury home market is picking up, with the highest number of sales since August 2022. The condo market is seeing a return of mainland and international buyers. In the past three months, of the 21 luxury condo sales with updated buyer information, 57% were mainland buyers and 24% were foreign buyers. There have been a lot of price changes recently, so pricing is very important. Sellers, know that there are serious buyers out there but remember to have patience.” – Caron B Realty International
Single-Family Homes
June 2023 vs. May 2023 for SFH $1.8M+
- #sold: 39 vs 32 (up 28.8%)
- Median price: $2,200,000 vs $2,575,000 (down 14.5%)
- DOM: 52 vs 61 (9 days faster)
- Listing/sold ratio: 98.1% vs 95.8%
- % sold at or above asking: 49% at or above listing vs 25%
- Price per sq ft: $1,050.67 vs $1,103.51 (down 4.8%)
Highest Sold Single-Family Home
Diamond Head
4 bedrooms | 4.5 baths | 3,996 sq ft living | 5,885 sq ft land
Why this property is spectacular: Enjoy gorgeous ocean views from virtually every room of this stunning modern luxury residence, which fronts a beautiful, expansive sandy beach coastline. Walls of glass maximize the sweeping panoramic views. This home’s unique position captures views of the historic Diamond Head Lighthouse. Extensively renovated in 2016. Former home of fashion designer Geoffrey Beene.
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 | 2,955 sq ft living
Why this property is spectacular:
7th floor residence at Honolulu’s preeminent, luxury residential property, Park Lane Ala Moana! This three bedroom, three bath features coastline and garden views. 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: $7,000,000 after 52 days on market to buyers from California.
This Market Report has been provided by
Caron B Davis, Caron B Realty International
LuxuryHomes.com Affiliate
Source:
Caron B Realty International – Oahu Luxury Market Update & June 2023 Top Sales
State Tax Office & Bureau of Conveyances