Daytona Beach Condo-Hotels
There are 2,448 condo-hotel units in 14 condo-hotel properties in Daytona Beach area.
I am pulling the data from MLS thinking that the lowest priced units would be in Sea Dip. It is an easy prediction to make, as Sea Dip is going through yet another major concrete restoration, and it usually results in low prices.
And yes, first two units are in Sea Dip: $32,900 and $34,500. And while these are the lowest prices among 128 condo-hotels units in oceanfront condo-hotels in Daytona Beach area, they are showing the increase. No more units in the $20s…
Anyway, there are 128 condo-hotel units for sale on the beach in Daytona Beach area. A pathetically small inventory, only about 5% of the condo-hotel market, which has not resulted in prices going crazy. But this may happen, and may even happen this year, but this is guess…
There are 13 units currently under contract with asking prices starting from $44,800 (we do not know the negotiated prices until after Closing but assume that they would be a bit lower).
There is an unproportionately high number of units for sale in Daytona Beach Resort & Conference Center. 21 units for sale. If you guessed that they are also under restoration after the Hurricane Matthew, you are correct.
Let’s look at sales.
Since January 1, 2018, 50 condo-hotel units changed hands. A great number. Starting prices were from $30K. 6 units were in the $30s. In 3 months last year, 30 units were sold. It is a dramatic increase.
Breakdown of units sold by the year
2017 – 162
2016 – 151
2015 – 147
2014 – 140
We see a steady increase in sales and insignificant increase in sold prices.
Which Daytona Beach Condo-hotels are doing well?
Pirate’s Cove probably. Only 3 units for sale. Each is priced over $100K. Probably they are doing better than any other condo-hotel in the area.
This is not the nicest condo-hotel in the area. It is not even the nicest condo-hotel in Daytona Beach Shores, where the leader used to be and should be Oceanside Inn. But Pirate’s Cove beats Oceanside with a big margin. Why is that?
I will try to write about it in another post.