1st quarter Daytona condo market report
In this report we limited the scope of analysis to the following seven municipalities:
Daytona Beach, Daytona Beach Shores, Ormond Beach, Holly Hill, South Daytona, Port Orange, Ponce Inlet. These 7 municipalities are adjacent to one another and commonly referred to as Daytona Beach area. It is different from Greater Daytona area, which may include New Smyrna Beach and even Palm Cost.
Condos for sale on the market
There are currently 529 condos for sale in the area. You can still find condos for under $100K, 54 of them to be exact. Majority of them are in Daytona Beach (42). 22 condos priced for less than $100K are on the Beachside.
There are no condos for less than $100K in Ponce Inlet, Port Orange and Daytona Beach Shores.
Here is the breakdown of condos by the city:
1. Daytona Beach: 119
2. Daytona beach Shores: 191
3. Ormond Beach: 71
4. Holly Hill: 45 (mostly in MG on the Halifax)
5. South Daytona: 16
6. Port Orange: 16
7. Ponce Inlet: 72
Condos sold in 2016
1,059 condos have been sold in 2016 in Daytona Beach Area.
Under $100K: 246
$100K and $200K: 276
$200K and $300K: 271
$300K and $400K: 137
$400K and $500K: 70
$500K and $600K: 38
$600K and $700K: 11
$700K and $800K: 7
$800K and $900K: 3
$900K and $1 Mil: 4
$1 Mil and $1.5 Mil: 2
Condos sold in 2017
In 2017 we had 225 sales so far. Last year there were 236 units sold from January 1 until April 1, but it is a very close number. This is 21.2% of all units sold last year, so we are pretty much so far moving at similar pace. Will it accelerate as we are thinking? It is too early to say. Again, maybe not this year.
37 of those were 1-bedroom condos, 147 – 2-bedroom condos and 49 were three-bedroom condos.
We noticed some leveling of the field. Condos in Oceans Six went up in price and are now on a par with similarly designed and amenitized Oceans Eight. It came with a significant reduction in inventory, so no more 3-bedr units in the shamefully low $200s.