Here on Oahu, we had 448 homes that sold over $1 million last year, which was up 14% from 2011’s 393 sales. Meanwhile, million dollar condo sales were down 17% with only 117 sales compared to 141 in 2011.
I don’t expect that decline to continue, especially with luxury projects like One Ala Moana that sold nearly 200 averaging over $1 million over the course of a few days. There were also several projects like the Allure and Trump Waikiki that had developer sales that closed outside of MLS.
This beachfront estate in Kailua (MLS# 1212126) bares one of Oahu’s highest price tags
2012 Oahu Home Sales
The highest sale on Oahu in 2012 was an oceanfront estate in Diamond Head that sold for $10,950,000. When you break down sales above $5 Million on Oahu, there were 9 sales above $5 Million, which was the same number we had in 2011.
Today, there are 30 active listings above $5 million, so if you have the cash, there is lots to choose from…Here are some of the better homes available I gathered for you in my Oahu Luxury Home Gallery.
2012 Oahu Condo Sales
The highest condo sale on Oahu in 2012 was unit #32L at Hokua that sold for $4,700,000. A close runner up was unit #1201 at the Diamond Head Apartments that went for $4,580,000.
How Does Oahu Sales Prices Compare to Those on Neighbor Islands?
I know there were several on the neighbor islands that fetched higher sales prices this past year, however, don’t count Oahu out of the picture yet. We’ve had many sales here in the past above $20 Million, some above $30 Million, and there was also one above $40 Million. Stay tuned to see what the Oahu luxury real estate market has in store for 2013…