There are 162 condo-hotel units for sale in Daytona Beach Area. In 2009 there were 366 units, so this is a sign of a drastic reduction of inventory. However, the prices are still at their low point with prices starting from $27K in Daytona Beach Club.
There are 4 units for under $30K for sale on MLS as of the last day of 2011. We have to be careful with number when talking about condo-hotel units. There are 13 condo-hotels in Daytona Beach area, and they are very different.
The fact that there are still condo-hotel units for under $30K does not mean that the prices did not go up in at least some of the condo-hotels. Take Plaza Resort & Spa. Their prices are dramatically up from last year. No more $30K in Plaza. You will be looking at mid $60K there today.
I will not be surprised if next spring will push the prices higher for condo-hotels. They tend to lag behind condos, and we already know that prices for residential condos on the ocean are generally up from the last year.
Looking to buy a decent condo-hotel unit? Call me at 386-405-4408 or shoot me an e-mail.
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