Daytona Beach Shores Condo Sale Update March 2016
The Daytona Beach Shores condo market has seen consistent sales numbers over the previous three years, but the number of high-end luxury condo sales remains low. Buyers have discovered the value that comes in owning affordable condos in the private and peaceful city of Daytona Beach Shores. The best beach side condo deals over the last three years were purchased quickly and the asking prices have started to rise, causing a slight slowing in total volume of sales. Since 2013 there has only been 14 Daytona Beach Shores condos sold above $750,000 while last year there were just four condos sold above that price in Daytona Beach Shores. There are currently 15 active condo listings with list prices of $750,000 or greater in Daytona Beach Shores, six of which have more than six months on market. With more supply than demand for luxury oceanfront condos in this price range, potential buyers are holding out for exceptional quality, undeniable value, or both.
|Daytona Beach Shores Condo Sales||2013||2014||2015||2016|
|0 - $300,000||204||180||177||28|
|$300,001 - $500,000||84||77||82||15|
|$500,001 - $750,000||20||25||20||4|
Economic and political factors may also be slowing commitment to buy condos in this price range, while new condo construction proposals such as Hard Rock and Aruba have garnered some deposits from potential luxury condo buyers. While the number of Daytona Beach Shores condo sales so far this year is low, we are just now entering the busy buying season. Interest spikes for these oceanfront condos in the summer months and the best condos will sell quickly and for higher values. Call us at (386) 527-8577 to learn more about the current Daytona Beach Shores condo market.
*Statistics taken from Daytona MLS and sold by participants.