Growth in the luxury real estate market remains strong across the nation for 2015. And spectacular island living is no exception.
Last week we released the Previews Quarterly Report, which examines the luxury market sales on Oahu for the first quarter of 2014.
Now we can see how Hawaii ranks nationally, with the release of the latest “Top 20 Best Performing U.S. Cities in Luxury Real Estate” Luxury Market Report by Coldwell Banker Previews International®.
Honolulu secured a spot in the Top 20 for U.S. cities with the Highest Number of Active Luxury Home Listings and Closed Luxury Home Sales for $1,000,000+ price points.
Known for luring in elite homebuyers with its world-class resorts, beautiful sandy beaches and warm climate, Honolulu embodies the standard of luxury island living—with the average sales price reaching $1.93M at the end of 2014. In addition to Honolulu’s lifestyle perks, it’s the shift in homeowner demographics, specifically age, that’s contributing to the city’s rising sales prices. Younger buyers from the financial services and software industries are choosing Honolulu as a place to settle down and raise their families, as one can enjoy tremendous natural beauty while still maintaining access to quality schools, infrastructure and easy travel.
Elsewhere in Hawaii, Kailua Kona also secured a Top 20 spot for U.S. Cities with the Highest Number of Closed Luxury Home Sales and U.S. Zip Codes with the Highest Number of Closed Luxury Home Sales for $10M+ categories.
Other U.S. cities in the latest Coldwell Banker Previews International® Luxury Market Report include San Francisco, Los Angeles, New York, San Jose and Houston as the top five spots for U.S. Cities with the Highest Number of Closed Luxury Home Sales in the $1M+ category. In the ultra-luxury market, New York earned the top spot for Closed Luxury Home Sales in the $5M+ and $10M+ categories.
To review the full list of the Top 20 Best Performing U.S. Cities in Luxury Real Estate, download the latest Luxury Market Report at www.previewslmr.com.