In the first quarter of 2014, the number of single-family homes that sold at prices over $1 million hit the highest level since the first quarter of 2006. For the first quarter of 2015, the number of sales exceeded the peak of the first quarter last year, despite a slow start in January and February. The number of sales in March made up for the slower first two months of the year, with an 11.5 percent increase over March 2014.

 

OAHU SINGLE FAMILY HOME SALES BY QUARTER – UNITS AND VOLUME
$1,000,000+ | Q1 2001-2015

Source: Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. for the period 2001 through March 2015.

 

Significant increases came from the top and bottom tier of price ranges. The 25 percent increase in sales for single family home in the $1 million to $2 million price range boosted the first quarter’s sales of all single family homes over $1 million, to a 4.4 percent increase. In the price range of $6 million and higher, a total of five sales closed in the first quarter of 2015, compared to only one in 2014. Of those five sales, three were properties that were not officially on the market. Those five property buyers came from tax addresses from California (2), Illinois, and Michigan, and one was local.

 

SINGLE FAMILY HOME UNIT SALES ON OAHU BY PRICE RANGE, 2015 vs. 2014
$1,000,000+ | March 2015 Year-to-Date

Source: Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. for the period January 1 through March 31, 2014, 2015.

If you are contemplating selling your luxury property, now is a good time. Buyer demand is still strong and we are entering the peak period of the year when buyer interest typically escalates. Coldwell Banker Pacific Properties and Previews International will help you develop the best strategy to maximize your proceeds and continue your real estate journey. There is a difference in real estate companies and especially the real estate professional. You deserve the best and there are many reasons why most luxury home sellers choose to list their properties with Coldwell Banker Previews International.

SHARE OF ACTIVE LISTINGS
$1,000,000+ | March 2015 Year-to-Date

Share of Active Listings YTD

Source: Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. as of 3/31/2015. Figures include Oahu SFH/Condos/Vacant Land. Excluding project sales.

 

 To learn more about Oahu luxury real estate and Previews International, visit  coldwellbankerpreviews.com or previewsadvantage.com.