Daytona Beach Shores Condo Market . April 2017

Daytona Beach Shores Condo Market

Daytona Beach Shores is the condo capital of Daytona Area. Actually, the number of condominium buildings is nearly the same as in Daytona Beach (66 condos), or Ormond Beach (62 condo buildings). Daytona Beach Shores has 63 condos, but considering that 80% of this small city’s population, it justifies being called the condo capital of the area.

Condos for sale

There are 191 condo units for sale in Daytona Beach Shores as of April 2. Here is the breakdown by the price.
Under $100K               0
$100K to $200K       14
$200K to $300K       53
$300K to $400K       40
$400K to $500K       43
$500K to $600K       12
$600K to $700K       12
$700K to $800K        7
$800K TO $900K      6
$900K TO $1 Mil       3

As you see, no unit for under $100K anymore. The lowest priced unit for sale today in Daytona Beach Shores is a unit in Grandview Condominium for $104,900. Seems like the era of extra cheap is gone. No, it is by far not the era of expensive, and even moderately priced units yet. Simply not the era of extra cheap anymore. It is the era of cheap, but no longer super cheap.

How long will the transition between the cheap and moderately priced condo units will take is a million-dollar question. Meaning that nobody knows.

Sales

291 condo units changed hands in 2016. From $92,500 for a small (595 sf 1-bedroom unit in Curran Shores South to $1,015,000 for a 3 bedroom/3 baths direct Oceanfront south corner unit in Oceans Villas.

58  condos changed hands in the 1st quarter of this year, compared to 65 condos in the 1st quarter of 2016. 66 condos changed hands in the same 3-month period in 2015. Similar numbers for 2013 and 2014. Not a big difference, yet seems the pace is a bit slower this year than in two preceding years.

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