The Oceans Condominims in Daytona Beach Shores

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

The Oceans in Daytona beach ShoresThe Oceans Complex in Daytona Beach Shores Market. 11 buildings in the complex are direct oceanfront, and there are 5 buildings, (4 condos), which are between the ocean and the river. We will look at them in another blog.

In these direct oceanfront condo buildings we are only looking at 2 bdr/2 baths units, which are the majority of units in these buildings. More than 3 bdr units, and certainly more than 1 bdr units.
There are  35 active listings for 2 bdr units in 11 oceanfornt buildings in the Oceans Complex in Daytona Beach Shores. 35 is practically 1/8th of what we had about two years ago. The inventory has decreased very significantly. And this is a sign of changing market.

Please, note that the prices are a little up from a few months ago. Not a single listing for less than $150K, and there were quite a few sales for less just recently. Below is the breakdown of all active listings in the oceanfront condominiums in the Oceans complex.

Oceans One Oceans Three Oceans Five Oceans Seven
$ 155,000  $ 199,619  $ 194,900 $ 199,000
$ 179,999  $ 199,900  $ 240,900 $ 234,900
$ 189,900  $ 215,000   $ 245,000
$ 198,500  $ 229,000    
$ 215,000      
$ 249,000      
       
Oceans Two Oceans Four Oceans Six Oceans Eight
$ 156,900  $ 230,000  $ 274,000  $ 298,500
$ 166,900  $ 259,900  $ 349,900  $ 319,000
   $ 269,900    
   $ 285,000    
   $ 324,000    
   $ 325,000    
   $ 329,900    
   $ 335,000    
       
Oceans Atrium Oceans Atrium One Oceans Ten   
 $ 239,900  $ 225,000 $229,900   
   $ 229,603 $334,500   
   $ 244,900    


To have a better understanding of the market in the area, let us check the sales. In the 11 direct oceanfront Oceans condo buildings, there were 41 2 bdr/2 baths units sold in 2009. The lowest price was $126,100 in Oceans Three and the highest was $328,500in more spacious unit in newer Oceans Eight.The Oceans in Daytona Beach Shores There were 5 units sold for under $150,000.

The way it goes, we are unlikely to bit that number in 2010.
Is it too late to buy in the Oceans? Or does it make sense to wait and see if the prices go even down? I do not believe it may go down unless a nuclear war, or another massive government initiative, that may render us poor. With the depleting inventory, waiting for lowering prices is not realistic.

But I hate to make predictions. So, figure it for yourself. There are always people who buy only when the rush is here. They feel more secure following others, rather than be pioneers. Of course, you most probably are not pioneers anyway, judging by the market, so that;s not a concern. But if you want to know if the rush is already here, the answer is not yet. So, keep watching the market, and even if you pay a bit more, if you think it is fair payoff for being cautious, that's fine.

But now is the time to start watching the market as the change does not take long and it is easy to miss when it accelerates. Follow the link to Beautiful Florida to search MLS, and you can sign for MLS alert, which would allow you to know about every new listing in Daytona Beach Shores and  the Oceans in particular..
If you need help with it, call 386-405-4408

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Rainmaker
532,494
Robert May
Robert W May - Lethbridge Real Estate - Lethbridge, AB
Real estate consulting

I am still a few years and a couple hundred thousand dollars away from packing up the mrs. and heading down there to Florida, but I sure like to keep an eye on the different markets and what is going on.  This is a great post for people who are sitting on the fence to see that things are stable and turning around slowly but surely.

Jan 31, 2010 03:22 PM #1
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Robert - I nearly wrote that I am in the same situation, but then I rememberd that i am here in Florida already. Oops

Jan 31, 2010 03:26 PM #2
Rainmaker
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Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Jon, this is encouraging that prices are moving up somewhat. I read about this in other areas, but it has not happened here yet. Yes, you are already in Florida :)

Jan 31, 2010 03:37 PM #3
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Sharon - being in Flolrida is the best part here. Crisis did not squeeze me out, so it is either the crisis did not get me really, or the colder weather in other  places was stronger than the crisis. In either way, I enjoy being here, but would not really regret to say "bye-bye" to the crisis

Jan 31, 2010 04:07 PM #4
Rainer
232,060
Marcia Hawken
WILLIAM RAVEIS - Naples, FL
Naples Luxury Specialist

Our market in Naples has started to move.  Our office is up 75 per cent over last year.  I have had two sellers have remorse and try to walk from contracts in the past two weeks. Lots of Canadians in town buying.  Good luck in your part of the state!

Jan 31, 2010 06:49 PM #5
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Marcia - Seller's remorse? Wow. That is really an indicator of the change. Sellers and buyers are usually slow to accept the change. We will still be seeing buyers who are betting on the market going down

Feb 01, 2010 01:03 AM #6
Rainmaker
346,001
Jenny Kotulak
RE/MAX Real Estate Centre Inc., Brokerage - Oakville, ON
Broker - Oakville Ontario Real Estate

Hi Jon, I really think that you will see sales increase this year.  I think many people were waiting to see how low prices would go but they can't wait forever.  People  have to make plans and the market here has recovered very nicely. 

Feb 01, 2010 12:56 PM #7
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Jenny - I would be the last to  argue with you. I hope there will be a bit more optimism and stabilityin the market, where people would understand that it stopped falling, and is still not going crazy.

Feb 01, 2010 02:11 PM #8
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