“Luxurious properties continued to promote shortly and noticed a big improve in value per sq. foot in November.” Says Oahu Luxurious Actual Property Agent and LuxuryHomes.com Affiliate, Caron B Davis.
Luxurious properties continued to promote shortly and noticed a big improve in value per sq. foot in November. There’s numerous pivoting occurring with rates of interest, so not solely is it essential to work with a educated realtor, but additionally one who can join you with a educated mortgage dealer that will help you with nice packages.
In November, 35 luxurious properties offered at or above $1.8M, a 38.6% lower from November of 2021. That is, nevertheless, a notable improve from final month. The median value was $2,367,500, a 7.8% lower in comparison with final November. Houses offered after a median of on 40 days on market. Value per sq. foot was $1,127.76 a big improve of twenty-two.7% from final yr. Houses offered for 98.9% of their asking value, on common, and 57% of them offered at or above asking value.
November 2022 vs 2021 for SFH $1.8M+
- #offered: 35 vs 57 in 2021 vs (38.6% lower)
- Median value: $2,367,500 vs $2,570,000 in 2021 (7.8% lower)
- DOM: 40 vs 36 in 2021 (4 days slower)
- Itemizing/offered ratio: 98.9% vs 101.6% in 2021
- % offered at or above asking: 57% at or above itemizing vs 58% in 2021
- Value per sq ft: $1,118.14 vs $918. 82 in 2021 (22.7% improve)
Highest Bought Single-Household Residence
4 bedrooms | 3.5 baths | 2,456 sq ft residing | 21,788 sq ft land
Why this property is spectacular: Located down a personal lane on a sprawling beachfront parcel of 21,788 sq. toes, rests this seaside home which radiates pure relaxation, rest, and a lot enjoyable! Swim, solar, and recharge at your again door alongside the famed sandy shores of Kailua Seaside, identified for its stunning tranquil turquoise waters and miles of breathtaking sandy shoreline. This charming dwelling presents open-air residing with a number of indoor-outdoor lounge and eating areas linked to wraparound lanai’s full with your personal tiki bar, creating a real sense of island residing!
Bought at: $6,650,000 after 15 days on market to a household from California.
There have been 7 luxurious condominium gross sales in November, the identical as November of final yr. The median value was $2,800,000, an almost 50% improve over final yr. On common, condos acquired 97.5% of their asking value and offered after 100 days on market, 99 days sooner than November 2021. The typical value per sq. foot for luxurious condos was $1,668.27, 14.8% greater than final yr.
November 2022 vs 2021 for Condos $1.8M+
- #offered: 7 vs 7 in 2021 (no change)
- Median value: $2,800,000 vs $1,900,000 in 2021 (47.3% improve)
- DOM:100 vs 199 in 2021 (99 days sooner)
- Itemizing/offered ratio: 97.5% vs 96.6% in 2021
- % offered at or above asking: 23% at or above itemizing vs 46% in 2021
- Value per sq ft: $1,668.27 vs. $1,452.61 in 2021 (14.8% improve)
Highest Bought Apartment
3 bedrooms | 3.5 baths |2,673 sq ft residing
Why this property is spectacular: Spectacular view of Diamond Head by means of to the Ewa coast! Take pleasure in breathtaking views of the ocean, yacht harbor and sunsets. Some of the magnificent views on the island of Oahu! Island residing at its most interesting – pamper your self with the heated pool, train room, BBQ, and permit the concierge to help you with all your wants. Absolutely upgraded with white marble all through. Sale contains two storage areas totaling roughly 99 sq ft and a pair of conveniently positioned parking areas.
Bought at: $7,100,000 after 41 days on market to a purchaser from Missouri.
This Market Report has been offered by
Caron B Davis, Caron B Realty Worldwide
Click on right here to be taught extra.
Oahu Luxurious Market Replace: November 2022 Statistics & Prime Gross sales
Honolulu Board of REALTORS
State Tax Workplace & Bureau of Conveyances