If you're buying or selling real estate in Ponce Inlet, you'll be interested in this information. For those of you who are not familiar with Ponce Inlet Florida, let me start with a little bit of information about the city.
Ponce Inlet is an exclusive, coastal town in the Daytona Beach area, but it's very different from the rest of east Volusia county for quite a few reasons. While many cities in the Daytona Beach area extend from the ocean to the mainland, Ponce Inlet is only found on the beachside/peninsula side of the Halifax River, aka Intracoastal Waterway. It's located south of the Dunlawton Bridge, past Wilbur-by-the-Sea. There are only 2 roads that go all the way to the far edge of Ponce Inlet; A1A and Peninsula Drive. There is no outlet on the south end of Ponce Inlet unless you plan to exit by boat, to New Smyrna Beach.
There are many fabulous restaurants in Ponce Inlet, beach access points, parks, marinas, boat storage, fishing areas, and the second-tallest lighthouse in the United States, that can be seen from 19 miles away. With good reason, Ponce Inlet residents are very proud of their city!
Now for an update of the real estate market. Being a part of the Daytona Beach Area Association of REALTORS® and Multiple Listing Service (MLS), the Ponce Inlet real estate market is having the same market conditions as all of east Volusia county, as well as the rest of the country. Our MLS has kept a steady inventory of approximately 7,000 listings for the last couple of years, and we're seeing an average of only 233 sales per month.
Ponce Inlet currently has 298 active real estate listings for sale. There are 217 condos, 70 houses and 11 single family attached homes listed in the Daytona Beach MLS. Year to date, there have been 61 total sales. Of those sales, 18 were houses and 43 condos.
As with the majority of the country and all of the Daytona Beach area, the real estate market is still in decline. And as with most markets, this won't change until the mortgage lending situation is resolved. In addition to the lending problem, Florida also has property tax issues that are in the process of being resolved. Hopefully, the tax issues will be resolved soon. There is currently a new property tax plan on the ballot for January 2008. Voters will decide at that time if this new plan is acceptable. We also need the insurance companies to get their act together and stop dropping policies for no apparent reason!
With all the negative variables in real estate right now, it's important to choose just the right place to live! If you're accustomed to the finer things in life, Ponce Inlet is a wonderful place to call home, whether it's your primary residence or a vacation getaway.
(I took these photos at the Ponce Inlet jetty. It was a beautiful afternoon outing.)