We are watching the market
We are watching the market, as, probably many people do nowadays. It is changing, but how? How fast, what drives the change, what can you expect in the future?
Questions, questions, questions…
This report is on the lot activity in Palm Coast.
Why would I, a condo broker in Daytona area, write about vacant building lots in Palm Coast, which is, actually, not my core area of activity?
It is simple.
Palm Coast is giving a great opportunity to watch the trends because of its homogeneity and big numbers. There is no other sizable land market in Volusia County to watch. And there is no homogeneous condo market in the area. With the decreased inventory, there are a few condos in 1-bedr category, a few in 2-bedr and so on and so forth. Numbers are too small to make any sense. Of course, we understand that the inventory is down and the prices are up, but to see the trend you need representative numbers, hundreds and maybe even thousands of comparable properties, and land in Palm Coast is the closest we can get.
When the market changes, it changes across the board. So, we assume that the trends are similar among all types of properties. And understanding the dynamics in one type of property, we can reasonably extrapolate it to other types of real estate.