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Ocean Walk Resort. 2 bedroom units. April 2015

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

Real Estate market changes constantly. Those who watch it on regional scale see the trends and can make some predictions. We are watching it on local scale, and are hardly able to see the trends, but while it is good to understand the trend and know where you are going to be in the near or not so near future, it is mostly theoretical if you are thinking of buying.

Ocean Walk in Daytona Beach

So, what is happening at Ocean Walk Resort in Daytona Beach? It is April and the market is still quite stagnant. The market is believed to be warming up (on both the national, regional and even the local scale), and inventory shouldn’t be growing.

Ocean Walk in Daytona BeachHowever, since January of this year there was not a single 2-bedroom unit sold in Ocean Walk. In 2014, which was not a very active year, there were 5 two-bedroom units sold, and if we are to repeat it, with 5 units for sale we are good, but things might change. More units may come to the market, or sales might outpace the supply…

It might sound complicated, but it is not. Ocean Walk is in an essence a condo-hotel, and condo-hotels in our area trail other types of properties. Meaning, that when the market warms up and prices start going up, condo-hotels would be the last to become hot cakes.

If this is true (and it is), we need to look at other types of properties. Especially on the ocean. Condos are up and going up for the last 2 years. Houses are up. Land is up.

But for right now what we see is 5 units for sale, and prices coming so close together… Did I say it is still slow? But all of these prices are higher than units sold last year.

Tells us something, doesn’t it?

Follow the link to the full article on my personal blog, and also for all available listings in the resort.

 

Comments (4)

Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Jon Zolsky, Daytona Beach, FL  A few years ago in my area you could not even give condos away .Now they are at a premium . Certainly tells me something . Just starting to blow bubbles

Apr 29, 2015 12:21 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Hannah - this sounds so familiar. that's exactly what we used to say thinking that even if you give them $5K incentive, and they pay nothing, they would still walk away...

Apr 29, 2015 02:21 PM
Neil Pluister
RE/MAX Property Pros Minocqua Neil Pluister (715) 367-7270 - Minocqua, WI
Realtor Up North

Jon,

Great listing. The picture is worth a thousand words.

Apr 29, 2015 02:45 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Neil Pluister - which listing are you talking about? Not sure you read the blog post. Oh, well... it happens :)

Apr 30, 2015 04:28 AM