Source: CNBC —
Hawaii’s luxury real estate market is soaring to all-time highs fueled by several factors including pent-up demand from the coronavirus pandemic, record low interest rates and rising equity markets.
In the first three quarters of this year, homes valued at $3 million or more saw sales volume rise 234.5% compared with the same period in 2020. Deal volume hit a record-breaking $3.7 billion, according to Hawaii Life’s Luxury Market Report. But sales of homes priced above $10 million have climbed at an even more robust pace — trouncing state records.
“It’s just been like a rocket ship,” said Hawaii Life Real Estate CEO Matt Beall. “Referring strictly to the data, it’s just an incredible, incredible event for the market.”