July 2007 Ormond By The Se condo sales market

Eight condos sold in Ormond By The Sea in July 2007, which compares to 7 in July 2006 and 8 in July 2005. Let's take a look at the majority of Ormond By The Sea condos, the 2 bedroom, 2 bath across the street from the beach. For those condos the average sale price in July 2005 was $291,000. The average in July 2006 was $253,000. The average sale price of those condos in July 2007 was down to $208,000. So the average sale price over the past 2 years has come down $83,000. Selling 8 condos each month will take about a year and a half to sell off the current inventory of 140 if nothing else comes on the market. Looking at the 2/2 along A1A in Ormond By The Sea, there are 65 for sale with 21 priced at 290,000 or more. Only 25 are priced at 250,000 or less. Judging by last month's average sale price, only 2 are priced to sell quickly and that is assuming the prices and values are no longer going down. For information about Ormond Beach and Ormond By the Sea homes and condos for sale or rent, contact Ocean View Realty Group or visit our web site at http://www.ovrealty.com/. Marion O’Connor is our sales specialist – ovforsale@aol.com Deanna Thomas is our rental specialist – ovrentals@aol.com Ocean View Realty Group 1350 Ocean shore Blvd. Suite A Ormond Beach, Fl 32176 386-441-8245 Fax 386-441-2407 Toll free USA & Canada 1-800-356-3409 Vacation rental information is at http://www.ormondbeachcondorentals.com/