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Oceanfront Condos in Palma Bella. Market Snapshot
Palma Bella Market Snapshot. April 2017
There are 7 direct oceanfront condos for sale in Palma Bella in Daytona Beach Shores.
Prices start from $657K for a 2nd floor unit and go to $733,950 for non-corner direct oceanfront units.
There are also 3 direct oceanfront corner very large units (2,854 sf). One on the north east corner and 2 on the South-East corner.
Their prices range from $835K to $899K
A bit of history, as it helps to understand what we experience today.
Doug Cook (Cook Develoment) built Bella Vista a few months earlier than Palma Bella. The market just started slowing down. Nearly sold Bella Vista got stuck with about a dozen of unsold units, but Palma Bella, which followed Bella Vista and came only a few months later, was hit hard.
Some of the units there did not find the buyer even at much lower prices for quite some time, until late 2010. Of course, it adverseley affected the prices.
There were 10 units sold in 2007 (I am only looking at direct oceanfront units, stacks 03 to 06). Average sale price was $1,106,800. Highest priced unit 1006 was sold for whopping $1,550,000. Later prices went down significantly, with ... more

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