Ocean Walk Resort Market Snapshot. June 2017

Ocean Walk Resort market is changing, and the direction is the same like overall condo market in greater Daytona Beach area.

Inventory is decreasing. No, the prices have not yet gone up wild, but this is probably in order in the near future… Not sure how near, as too many factors are at play.

But today in 2 towers with 226 condo-hotel units, there are only 4 units for sale. It is less than 1.8%, which is a very low number. The only reason there is no buying frenzy is, probably, because there are still too few buyers to notice even this dramatic decrease, which in normal times would have, should have… you know…

All four units are in South Tower of Ocean Walk Resort, all four are 751 sf one-bedroom units, and all four are direct oceanfront units.

Here is the breakdown:

Unit 1510            $234,900
Unit 1203            $235,000
Unit   702            $243,900
Unit 1503            $244,900

It is a waiting game now. These unit will be gone at one time, and new listings would be coming at, I believe, 10%-15% higher price.

We have been watching these low prices for too long. Change is coming. Will it go crazy, like a decade ago, and values would double, or it would be steady and slow at 10%-15% a year, nobody knows at this juncture…
For questions about condos and condo-hotels in Daytona area please call Jon Zolsky at 386-405-4408

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