September 2009 Ormond By The Sea, Florida Condo sales

Five Ormond By The Sea, Florida condos sold through the Daytona Beach area multiple listing service (MLS) during September 2009. Compare that to 2 sales in 2008, 4 in 2007, 5 in 2006 and 6 in 2005. One sale was a one-bedroom foreclosure for $66,100 and one was at the direct oceanfront Capriana. Three sales were
2-bedroom 2 bath on the west side of A1A and the average sales price for those 3 was $163,300. This average is only about $10,000 less than the September 2008 average so we may be seeing a slowdown in the rate of loss of value. All 3 of the 2-bedroom condo west of A1A had sales prices within 6% or less off of the asking price so setting a price close to the market value is very important. Average time of the market for those 3 sales was 150 days. The average days on the market in 2005 were 73.