In 2013 we saw a steady improvement in the Daytona Beach area real estate market overall, with some luxury condo buildings like Ocean Villas producing impeccable sales numbers. Last year there were 12 total condo sales at Ocean Villas, double the number of sales from 2012. In previous years, such as 2007 through 2010, when the real estate market was at its lowest point, the higher unit sales volume may not have necessarily indicated an improving condo market, as many of these sales were earning lower values than before the housing bubble burst. This is not the case for 2013 condo sales at Ocean Villas, as we have seen a more than 16% increase in average sale price from 2011 to 2013.
The average sale price by floorplan at Ocean Villas also increased across the board, with the exception of the oceanfront Avalon units. The only reason we didn’t find an increase in sale price here is due to the fact that the 11th floor penthouse unit sold twice, once in 2011 for $990,000 and then again in 2012 for $975,000, skewing the average sales drastically higher for those years. Overall, these rising numbers point to a bright year ahead for both Ocean Villas and the entire Daytona Beach luxury condo market.
Last year, Kevin Kling was able to list and sell Carlton unit #705 for $475,000. We also listed Bellaire unit #701 at $695,000 and placed it under contract as 2013 drew to a close.
The success we found in Ocean Villas last year was added to a record-breaking year in sales which saw nearly 80 transaction produce $22.6 million in luxury Daytona Beach area sales. Start the new year off right and allow us to assist you in all of your Daytona Beach area real estate needs in 2014. Contact us today!*sales data from Daytona MLS