Hawaii's ultra-luxury real estate market smashes records, as sales soar 600%. Here's what's selling.
Key Points
In the first three quarters of this year, homes valued at $3 million or more saw sales volume rise 235% compared with the same period in 2020. Deal volume hit a record-breaking $3.7 billion, according to Beall said the pace has been "aggressively quick" with some $20 million deals closing inside of 30 days.
Real estate firm Hawaii Life is having a record-breaking year as well, Beall said, with more than $3 billion in sales over the first three quarters of 2021. Sales of luxury homes accounted for $1.38 billion of the total sales volume.According to the data, the average luxury home in the state sold for more than $6 million, up 12.4% over the same period last year, with an average price per square foot of $1,795.
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