July to September, 2009 Ormond By The Sea, Florida condo sales

Condo values have declined but not as drastically as the past. The 3rd quarter (July-Sept.) 2009 average condo sale price was $156,036 for a 2 bedroom 2 bath on the west side of A1A. That is $21,297 less than the 3rd quarter of 2008, which was $42,000 lower than the 3rd quarter 2007.
Volusia county property appraisal Morgan Gilreath has stated that overall property values in Volusia County, Florida are decreasing at an average rate of 2 ½% monthly. Ormond By The Sea 2 bedroom 2 bath condo on the west side of A1A year over year for the 3rd quarter have declined in value about 12%.


   July to September Ormond By The Sea, Florida condo sales

   Year     Sales      Average (2/2 West of A1A) Sale Price)

   2005     26        $286,972 (13 were $290,000 or higher)           

   2006     15        $225,090 (2 sales $290,000 or higher)              

   2007     20         $213,000 (highest $275,000; lowest $175.000)

   2008     11        $177,333 (highest $197,500; lowers $154,500)

   2009     22        $156,036 (decrease of $21,297 form 2008)