Condo-Hotel Market in Daytona Beach Area

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

Condo-Hotel Market in Daytona Beach Area

First and foremost – the inventory is shrinking. Lately it was shrinking slower, but it is normal due to our seasonal activity, which slows down in winter. Late spring is when it really starts warming up, even though it seems we have early start this year, as we are getting unseasonably busy.

So what do we have? Well, we have 151 condo-hotel units for sale in greater Daytona Beach Area.

3 years ago at high point we had 366 units for sale. Going to 151 is a huge drop, and it is reminding me of 2004, when at this time of the year we had about 160 units dropping from about 260 units, and many still thought that the prices for condo-hotel units will not go up for another 25 years.

And they went up 2.5 – 3 times just in 8 months. Of course, now everybody says that it is different this time, and there will be no real estate explosion.

We will see. I do not buy all that crap about the elections, unemployment, war or no war... When in 2004 the market started going crazy, what was the trigger? Did unemployment suddenly and dramatically changed? No...

Did we get a huge and quick spike in the overall economy? I do not recall it.

But real estate market went nuts.

For me it is still the law of demand and supply. Decreased inventory leads to increase in prices. And I think inventory at some level is the trigger. The lower the inventory, the more is the competition for remaining units.

We will not have to wait long to see if my prediction is any better than of some gurus' (LOL). And if I am wrong, I will be in a company of many gurus, who were very consistent in just one thing - being wrong...

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Florida Volusia County Daytona Beach
Groups:
Realtors®
Silent Majority
Condos, What you need to know?
REALTOR LIFE
Condo Specialists
Tags:
daytona condohotels
jon zolsky
cheap daytona condos
cheao daytona oceanfront

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
425,315
Ted Baker
Carmody and Associates LLC - Winter Haven, FL
MidFloridaMediation.com

We are talking about a question within your area of experience and expertise and in your local operating area.  Of course your opinion is better than so many gurus.  That is why I always read your blog.  You are interesting and with great frequency, you are right.  

Such a deal...

Feb 26, 2012 07:23 PM #1
Rainmaker
731,573
Ed & Tracy Oliva
West USA Realty - Arizona - Fountain Hills, AZ
The Oliva Team Arizona Agents

Jon:  Good luck with your up and coming selling season,and good luck in 2012.  All the best    E

Feb 26, 2012 07:29 PM #2
Ambassador
1,041,270
Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Jon, I am sure your predictions are better than the gurus. They have been consistently wrong and annoying anyway. You are neither wrong or annoying.

Feb 26, 2012 07:58 PM #3
Rainmaker
2,335,092
Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

Hi Jon, that is a pretty easy perdiction to make I am with you on that. BTW can you get tickets to the 500 down there at a discount. We pay about 5K for 4 of us to go by the time we have motorhome parking etc.

Feb 26, 2012 09:24 PM #4
Ambassador
1,720,996
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Ted - I understand that itis very different when you are watching macro market, giving a big (often very big) picture. In my micro niche I now feel like I might have a good idea of the changes...

Actually it is often not the gurus, but customers, who are basing their decisions on buying a specific produt in a specific market, in specific sircumstances, while listening to a guru giving very general advice on a broad market in another part of the country...

It is like leaving an umbrella home because there is sunshine in San Diego, while you are in Miami

Feb 26, 2012 11:03 PM #5
Ambassador
1,720,996
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Ed - thank you.

Feb 26, 2012 11:51 PM #6
Ambassador
1,950,254
Michelle Carr Crowe,Altas Just Call...408-252-8900!
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Jon, thanks for a useful post on what's happening in the Condo-Hotel Market in Daytona Beach Area.

Feb 27, 2012 08:27 AM #7
Ambassador
1,720,996
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Andrea - my wife does not agree with you, by the way... ;-)

Feb 28, 2012 07:20 AM #8
Ambassador
1,720,996
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Charles,

I am so sorry, I missed this thing with the tickets. I am not a fan, never was at the racetrack, but I could sure ask people here. It sounds a lot, a whole lot a lot... (LOL)

I will ask my son

Feb 28, 2012 07:22 AM #9
Ambassador
1,720,996
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Michelle - thanks for stopping by

Feb 28, 2012 07:23 AM #10
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
1,720,996

Jon Zolsky, Daytona Beach, FL

Buy Daytona condos for heavenly good prices
Ask me a question
*
*
*
*
Spam prevention

Additional Information