Ocean Vistas Condominium in Daytona Beach Shores, Florida.
Writing market reports about condos in Daytona Beach area is like looking at the surface of water, which is so still that looks like a mirror. There is simply no movement. The market is so still, that it is even surprising.
After starting moving after 2011 and 2012, we thought that it would be gaining speed, especially considering that real estate market in general is moving, and in South Florida is moving quite fast, as well as in many other areas in the nation… but not condos in our area.
I guess they took a sabbatical.
Ocean Vistas in Daytona Beach Shores is unquestionably one of the nicest condominiums in the area.
There are 9 units in Ocean Vistas for sale on our local MLS at this time. Prices are still in line with what we saw last year. You, of course, would not see the prices of 2011, but we expected higher and faster growth. Looks like we did not get enough steam yet…
If you look at sold statistics, it also does not give you much. In 2010 in the first 6 months of the year there were 5 units sold. In 2011 – 8. In 2012 – 4. In 2013 -6, and in the first half of this year – 5 units were sold.
What does this mean? Well, Sellers might benefit from waiting till the market gets more steam. Buyers, who have missed the train of 2011 and 2012, are still able to buy for significantly less, than in, probably, couple of years. After all, the general trend is pretty clear, and housing market in the area is growing, and condo segment will catch up with the rest of the market. Actually it was moving faster than single-family homes, and it is single home market, that is catching up now. A few days ago the article in our New – Journal mentioned the biggest increase in values as per the County Property Appraiser, and it is just a hair under 10%.
If you are in the market for a condo, it is still a good time. Not the greatest as couple of years ago, but much better than in couple of years ahead. Call me 386-405-4408. Follow this link for information about Ocean Vistas, get the availability and prices, which are up-to-date.
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