HONOLULU--(BUSINESS WIRE)--Elite Pacific Properties, in partnership with the Institute for Luxury Home Marketing, today launched a new report which for the first time will provide monthly in-depth statewide data and trend reporting on Hawaii’s luxury single-family and attached home sales.
“Particularly in financial climates like the one we’re experiencing now, it’s crucial for our clients to have access to the most specific, up-to-date market data and analysis possible—this report allows us to provide that,” said Anton Steenman, CEO and President of Elite Pacific Properties. “Now more than ever, our clients must be equipped to make decisions based on frequent market insights.”
The report, produced by the Institute for Luxury Home Marketing, is a guide to the luxury real estate market in North America. It provides an overall analysis with trends and showcases comparative data on the top-residential markets throughout Canada and the United States. With the current activity slowdown in Hawaii and elsewhere due to the COVID-19 crisis, these Q1 statistics offer a valuable benchmark from which to truly determine any changes and/or impacts in the market moving forward.
Metrics analyzed include month-over-month statistics as well as a 13-month trend of median sales price, inventory of available homes and sold data. The active and sold data used are compiled by various sources, including local MLS boards, local tax records, and REALTOR.com.
“A trusted advisor provides this kind of targeted data to help his or her clients make informed decisions,” Steenman added. “This report is another in a suite of exceptional tools we provide our agents, enabling them deliver a world-class experience to their clients whatever the external climate is.”
The first report covers a review of key market differences month over month, Feb – March. Hawaii findings include:
- A growing number of buyers coming from the US mainland, and seniors and millennials as driving forces in the demand for luxury properties with smaller footprints.
- Despite regulatory challenges in 2019, vacation homes and luxury resorts continued to grow in their popularity, especially as they favored the greatest increase in property values, offered steady income generators as well as tax benefits.
- Many of the Hawaii resort markets favored extensively for second homes are low density, with spacious lots, which could bode well for a post-COVID rebound.
“We are proud to partner with Elite Pacific Properties on this unique and exclusive report. Producing the report demonstrates that Elite Pacific Properties understands that data is the new currency and their forward-thinking approach to share the report will certainly set them apart in the minds of prospective buyers and sellers,” said Diane Hartley, President of the Institute for Luxury Home Marketing.
Elite Pacific Properties: https://www.elitepacific.com/about/