It is end of the year, and it is common to look back at the year, which is ending soon, and see how condo-hotels in Daytona Beach Shores fared in 2016 and how the market changed since a year before. So we are comparing 2015 and 2016.
There are 4 condo-hotels in Daytona Beach Shores, and we start with Oceanside Inn.
If we look at the changes in average price per sold unit and compare sales in 2015 and 2016, you would notice that all metric shows growth. You may think that this is a good reason to have a glass of wine and celebrate.
But numbers without a trend and without comparison lie.
And this is the case with Oceanside Inn.
If you compare it with other 3 condo-hotels in this small and beautiful city, you will notice that average price PSF in Oceanside Inn is less than half of the next condo-hotel and nearly 1/3 of Pirate’s Cove.
However, it has the lowest value of four condo-hotels in Daytona Beach Shores (DBS). On average cost of sq. ft. basis shows that in 2016 units in Castaways sold for 52.2% more, in Hawaiian Inn for 60.5% more, and in Pirate’s Cove for 63% more. So, even with the growing numbers Oceanside Inn is seriously underperforming in the market.
With condo-hotels what you do not see may kill you (your investment).
Click here to read the full article and see the spreadsheets
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