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Brand News Featured

Introducing the New sothebysrealty.com

Sotheby’s International Realty is pleased to announce the launch of the new sothebysrealty.com. The revamped website exemplifies the brand’s continued commitment to innovation and reinforces its position as the leader of global luxury real estate. With more than 60% of website traffic coming from outside the U.S., the new sothebysrealty.com features human translations in more than 15 languages and nearly 60 currency conversions to continue serving the brand’s growing international clientele and fuel referrals worldwide. “With an international presence in 72 countries and territories around the world, Sotheby’s International Realty is the preeminent global luxury real estate brand,” said Brad Nelson, chief marketing officer for Sotheby’s International Realty. “The new sothebysrealty.com reflects the brand’s international identity and provides our sales associates the best platform to promote their listings and themselves on a global scale.” The evolution of the website delivers an amplified experience that stays true to the Sotheby’s International Realty® brand’s commitment to rich, high-quality content. The launch of sothebysrealty.com is being done in collaboration with global experience design agency, Huge, which has previously worked on campaigns with leading brands such as Four Seasons and Google. “The approach to real estate search today can often rob joy for the sake of convenience. Users are either working harder through overwhelming content to find their ideal property or missing out on the little details that make you fall in love with a home,” said Jon Judah, group vice president, strategy of Huge. “At Huge, we’ve always been about making things users love, so we were inspired by the Sotheby’s International Realty brand’s vision of translating their immersive approach into a modern brand experience for selective clients of all backgrounds. They’ve always seen a premium experience as much more than just price and we’re excited to bring that idea into this initial phase of their digital initiatives.” With nearly 70% of traffic coming from mobile users, the website was designed with a mobile-first approach to emphasize the method in which today’s clients are now buying and selling homes. To directly connect agents and potential clients, mobile users will have the opportunity to text an agent directly from an agent’s profile or listing page, enabling them to forego the generic industry approach and communicate with agents in the same manner they communicate in their personal lives. From a design perspective, homes featured on sothebysrealty.com will be presented to consumers as engaging editorial-style, Instagrammable content to mirror consumers’ desire for rich, high-quality content and reinforcing the brand’s efforts in making high-resolution photography a standard for property presentations and listing pages. “At the heart of the Sotheby’s International Realty brand is a commitment to quality and service,” said John Passerini, global vice president of interactive marketing. “We pioneered high-resolution, quality-controlled photography 10 years ago, 3D virtual reality four years ago, and the launch of this new website is a next step in our commitment to those values. Consumers are seeking visual and social media-worthy content, and our fully responsive mobile website reflects this behavior enabling us to market extraordinary properties around the world.” To foster the client-agent relationship, sothebysrealty.com now makes it easy for a buyer or seller to discover the best local agent for them by virtually bringing agent profile pages to life and cultivating connection through direct communication. The website’s enhanced profile pages enable agents to present their personalities, current listings, and sales successes, allowing consumers to determine which trusted advisor is right for their buying or selling needs. Properties are also easily accessible using visual experiences such as high-definition video and photography, virtual reality and staging, and shop-the-room functionality – a feature exclusive to theSotheby’s International Realty brand.

To experience the new website and learn more about Sotheby’s International Realty, click here.

The post Introducing the New sothebysrealty.com appeared first on Sotheby's International Realty | Blog.
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Market Report

Oahu Market Report – May 2020

List Sotheby's International Realty Hawaii, Market Report

We’re pleased to share the Oahu real estate update for May 2020.

The Oahu real estate market continued to see muted activity as a result of the COVID-19 pandemic that began in late March. As anticipated, single-family homes sales were down 22.5%, and condominium sales saw a steep 51.2% decline compared to May 2019. Median sales prices were mixed with the single-family home median up 3.5% to $797,000, while the condo median sales price declined by 4.4% to $399,000.

Single-family home sales in the mid-range levels between $600,000 to $899,999 saw the largest declines at 26.3% compared to last year, while sales in the $1.4 million and up range remained relatively even. The condo market saw sales declines of more than 30% at every price range but was most impacted at the $1 million and up range, which dropped 85% with just six condo
sales compared to 40 sales in May 2019.

Despite the year-over-year decline in sales activity, the market showed signs of improvement. The demand for single-family homes is still strong, as indicated by a near record-low median of 13 days on market.

  • Thirty percent of the properties that were taken off market in March or April were already put back on the market by the end of May.
  • Total new listings increased by 17% over April, while the volume of listings going into escrow saw a 32% increase from April to May.
  • The 30-year fixed mortgage rate also hit another record low at the end of May, averaging 3.15%, and according to the Mortgage Bankers Association, mortgage applications nationally continued an upward streak with applications up 54% from early April to late May and 18% higher than a year ago.

Effective Friday, June 5, the City and County of Honolulu further lifted restrictions on real estate operations allowing for open houses with certain restrictions, including limiting the number of attendees to 10. Both in-person and virtual open houses are available.

As the state continues to reopen, we are already seeing a steady increase in activity that, in turn, helps to drive our local economy.


Courtesy of Honolulu Board of Realtors

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