Aloha and welcome to The Quarterly Luxury Market Report from List Sotheby’s International Realty, where we take a closer look at the most recent real estate activity here on Oahu.

Our report breaks the Oahu luxury home market into four single-family home and two condominium price segments.

Single-family home sales for Q4 2018 priced from $1 to $2 million decreased 4.7% compared to Q4 2017, with 205 homes sold. Months’ supply of inventory dropped 18.1% compared to last year at this time to 6.0 months.

For single-family homes in the $2 to $3 million range, sales decreased by 4.3% to 22 homes sold, nearly even with the mark of 23 for both Q4 2017 and Q4 2016. Months’ supply of inventory decreased 13.8% to 11.8 months for the quarter.

Single-family home sales priced from $3 to $5 million decreased by 6.7% compared to last year to 14 homes sold, closely resembling the 15 homes sold in Q4 2017 and Q4 2016. Months’ supply of inventory had a year-over-year decrease of 30.6% to 18.3 months, which was approximately the same value and percentage change as last quarter.

Five single-family homes sold at or above $5 million in Q4 2018, including three East Oahu homes and two Windward Oahu homes. The top sale was at $15,845,000 for an oceanfront residence in Aina Haina.

As for condominiums, five units closed in the fourth quarter at or above $5 million. Three units closed at Park Lane, including the highest sale this quarter at $23,500,000.

Sales in the $800 thousand to $1 million range for Q4 2018 were down 48.4% compared to Q4 2017. The 49 closed sales landed firmly behind last year’s 95 sales. Months’ supply of inventory was up 39.1% to 7.1 months.

Sales for condos priced at $1 million and higher decreased by 79.5% compared to last year at this time, representing a steep drop from 303 sales during Q4 2017 to 62 during Q4 2018. Months’ supply of inventory increased by 109.8% compared to Q4 2017, rising to 12.5 months.

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To learn more, download the companion print report which also showcases market statistics for a number of Oahu luxury neighborhoods including Diamond Head, Waialae-Kahala, Portlock, Lanikai and more, found here: