I was running comps for a client today and needed to isolate sales by floor inside the same complex. I used to manually pull them out, but found a new filter that made it much easier. Since I already had all the data in front of me, I might as well throw this article together. When I have more time, I will run the same pull on other complexes.
Even inside the same complex at Kona Coffee Villas, the median closed sale price changes a lot depending on which floor the unit is on (condition plays a factor as well):
• 1st floor: $460,000
• 2nd floor: $565,000
• 3rd floor: $569,950
If you look at how the buildings sit on the hill, it makes sense. Many second-floor units are “bridge units” where you walk straight in from the parking level with no stairs but still get elevation and a view. Third-floor units push the view even further. First-floor units usually require stairs down. They may not get much foot traffic, but they have less privacy and the weakest views. That shows up in the numbers.
Another factor is condition. Quite a few of the remodeled units happen to be on the upper floors, so part of the spread is elevation and part is upgrades. Also note that on ocean-front complexes I believe we will see a different spread.
The takeaway is simple. Even in the same complex — same HOA, same floor plan, same amenities — floor level, entry type, view exposure, and renovation level can swing sold prices by six figures. Treating all units as equal gives you the wrong answer. The data makes that clear.
If you’re looking for a REALTOR in West Hawaii or Kona who understands floor-level pricing and condo resale nuance, this is the type of analysis I provide.
#Kona #HawaiiRealEstate #KonaCondos #MarketData #RealEstateInsights #HawaiiHousing #CondoSales
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