Ocean Walk is by far the nicest condo-hotel in the area. So nicea, that they do not even consier themselves a condo-hotel, and proudly call themselves condos. Which is fine with me, you can call me a pot for as long as you do not stick me into the oven...
But remember that if you quack and all that? So for me a resort with the Front Desk operation and minimum one day rental sounds like a duck condo-hotel.
It is the newest condo-hotel - OK, OK - condo, built in 2001 and 2004 (there are two towers). The great part about them is that they were not conversions, meaning that they were first hotels, and then converted to condos. These were built exactly the way they are used now. Excellent resort, the best in the area, comparable to Disney resorts, best amenities and features...
But even if you are the best and even better, the market hits you with the full force nonetheless.
Daytona is nearing its lowest point in the seasonal market. And when I looked at Ocean Walk, I could clearly see it.
7 one-bedroom units for sale in this resort, the best part condo-hotel – part timeshare complex in Daytona Beach.
And we see prices starting from … $167,900, a short sale of a 751 sf direct oceanfront unit. $40K-$70K price drop from 8-9 months ago. And then 2 more for sale for under $200K.
That’s what happens in Daytona Beach area. I expect this trend to last for another 3 months. We usually see the increase in prices in March after the end the Bikeweek.
Will 2016 year start the noticeable correction in prices? Nobody knows for sure.
Are there any indicators of this?
Yes. All it takes is to get into a car and drive 3 hours to the West Coast of Florida, and you see cranes, new construction, and rising prices, and rising sales.
How long it would take to get this trend from one coast of the same state to another?
Well, we will sure know that in a year. And meanwhile, we are again at 2011-2012 level.
Hey, guys… the train hasn’t left yet.
But it will some day
Follow this link to see availability and prices of all units in Ocean Walk Resort