Daytona Area Condo Market was a little busier this year than in the first quarter of 2007.
Let's look at numbers. There were 117 condominiums sold in the 1 st quarter of last year at an average price of $333,218.
This year there were 127 condominiums sold at an average price of 309,879 (7% decline). Does it give us the idea of how the condo market is going to perform next year? Not really. There were 4 or 5 new condo buildings selling off their last units, and they may have affected the prices pushing them just a bit up. We may most pro0bably expect the same dynamic with pretty much same volume, but we might see lower prices, and in my estimation, there could be a 10-11% drop in average prices in the area.
Today there are 1,805 condo units for sale in Daytona MLS. Prices range from $67,500 to $3,550,000
Jon Zolsky, your Daytona Beach connection
www.BeautifulFlorida.com
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