IDEAS home Printed from
   My bibliography  Save this article

The Effect of Elevation and Corner Location on Oceanfront Condominium Value


  • Bruce L. Gordon

    () (University of North Alabama)

  • Daniel Winkler

    () (University of North Carolina at Greensboro)

  • J. Doug Barrett

    () (University of North Alabama)

  • Leonard Zumpano

    () (University of Alabama)


Although previous research indicates that condominium unit location within a development has an effect on its value, no research has examined oceanfront condominium units and the unique influences to which they are exposed. This study analyzes data from condominium sales along the Gulf Coast of Alabama using hedonic pricing models that account for the externalities associated with their location. The findings indicate that the positive externalities associated with upper-floor and corner units have a positive and substantial effect on value. Corner units offer even greater positive externalities and sell at a premium to interior units, primarily due to their more panoramic view. Failure to account for both the positive and negative externalities specific to resort type properties could result in serious misspecification when applying hedonic modeling to these property types.

Suggested Citation

  • Bruce L. Gordon & Daniel Winkler & J. Doug Barrett & Leonard Zumpano, 2013. "The Effect of Elevation and Corner Location on Oceanfront Condominium Value," Journal of Real Estate Research, American Real Estate Society, vol. 35(3), pages 345-364.
  • Handle: RePEc:jre:issued:v:35:n:3:2013:p:345-364

    Download full text from publisher

    File URL:
    File Function: Full text
    Download Restriction: no

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:35:n:3:2013:p:345-364. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (JRER Graduate Assistant/Webmaster). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.