Sales Activity
Colony Surf sales have
been traced from January 2000 -- the data represents the actual selling
price, not listing prices. Data has been consolidated from searches of
the City and
County of Honolulu's Real Property Assessment and Tax Billing
Information and Honolulu
MLS web sites.
Information is assumed accurate with the following disclaimer:
"ColonySurf.net makes
every possible effort to publish current and accurate information. No
warranties, expressed or implied, are provided for the data and
opinions herein, their use, or their interpretation. Utilization of
this data indicates a user's understanding and acceptance of this
statement."
Grouping Data by Ocean
Views
Colony Surf units have
been divided into four groups based on view. Since units are identical
floor to floor, a unit's ocean view represents the main variance in
price.
Note:
Prices are reported by cost per square foot to equalize unit prices.
Unit Condition
To a lesser extent
condition of the unit also plays a factor. Not knowing the condition of
each unit at the time of sale, these numbers reflect an average. If I
had to guess, I would say prices have trended towards unrenovated
units. That said, renovated units do come on the market - some by
owners and some by investors who "flip" the unit when work is done. If
views are equal, the renovated unit will obviously cost more.
And as always, one
buyer's trash is another seller's treasure. Just because a unit has
been renovated doesn't mean anyone else will like it.
A recent chuckle was
provided by a real estate agent who when asked if her listing was
renovated replied, "yes, but the kitchen and bath are original." So the
paint and carpet are OK but the big ticket items are still 40+ years
old.
A note to potential
buyers and users:
This data is only an
indication of historic sales activity and as such is only part of the
due diligence required in purchasing a home. Because there are only 171
units in the building, time may pass before units of a certain type
come on the market. Generalizations can be made but because of such a
small sample size, micro-trends are not statistically valid.
Colonysurf.net provides
no guarantees of future performance and takes no responsibility for
actions taken based on this information. After all, hindsight is 20/20,
not foresight!