We often see fluctuation in the market, and it is important to tell a trend from a fluke. I was surprised a couple of weeks ago to notice a few units popping up in The Plaza Resort and Spa, a premier condo-hotel in Daytona Beach, for very low price. It looked as if the second wave of those crazy deals was coming back.
We put 2 out of three those units under contract, and I was curious whether that was to continue. It did not. The prices are still getting higher in The Plaza, prompting some of my clients to start playing with the idea of selling what they bought for such low price a year ago.
Below is the list of units for sale in The Plaza, actually 15 least expensive condo-hotel units, and the prices are going to $359K for pretty much the same.
Check this list; there is no divine logic in it. Unit 420 with no ocean view is number 3 on the list after two units with a very good view of the ocean, and then another identical unit just 2 floors up with pretty much the same view is third from the end, surpassing in price even two direct oceanfront units (For geographically challenged (LOL) – Atlantic Ocean is East).
Altogether there are 29 units for sale in The Plaza Resort & Spa, all of them are studios 372 or 427 sf with no cook top. Not a single unit on line 05 and 09 is for sale at this time, and those are the largest (513 sf) direct oceanfront corner studios with two balconies (one direct oceanfront) and a glass two-burner cook top. Making them best studio units in Plaza Resort & Spa.
I am getting a listing for unit 409 today, and it will be the best unit, especially for a family, in the resort. Still working on the price, though. It is not a distress sale and is not going to be "half price of steal". Check my blogs, I will write about it here on AR shortly.