Oceanfront Data
Oceanfront data is the most complete meaning
there has typically been at least one sale per quarter. Since
January 2000 prices moved from the $400s/sft to ~$1,000/sft today
for a renovated unit.
The up and down in price seen from 1Q08's highpoint (ultra-renovated
double unit) to the low in 4Q09 (well-bought auction) demonstrate
the effects abnormal sales can have.
Smaller swings are the result
of micro-market dymanics, unit condition and sometimes the slight
added bump from a combo unit. One of the reasons this group appears
to have fallen the most is because during the boom/bubble, prices
grew the most. As has been seen in many mainland markets, those
that rose fastest, fell furthest.
One odd trend emerging in 2009-2010
has been the equality in sale prices between larger 01 and 04
units and their slightly smaller 02 neighbors. The added 100+
square feet doesn't appear to be translating to higher sale prices
per square foot.