Wednesday, September 02, 2015

Ormond Owners Report

Ormond Owners Report
Second Quarter 2015
Hello From Ormond By The Sea Florida


Ocean View Condominium Rental Group, Inc. also doing business as Ocean View Realty Group publishes this informative newsletter each quarter and sends it to out of town Ormond By The Sea Florida property owners. Ocean View Realty Group provides non-resident owners a source of local information that they may not otherwise receive. If you have comments, questions or suggestions do not hesitate to contact Ocean View Realty Group. Go to http://www.ormondownersreport.com/ to sign up to receive an email each time a newsletter is published.


BUSINESS BRIEFS
- The Oceanic Motel, built in 1952 at 1059 Ocean Shore Blvd has been sold for $1.4 million. Plans are to demolish the buildings and build a clubhouse with restrooms and a pool for use by residents of a new community near LPGA Blvd.


LOCAL NOTES
- I-95 From Daytona Beach to New Smyrna Beach is being widened to 3 lanes in each direction.
- A new interchange is being added to I-95 in Flagler County at Matanzas.
-Work continues widening I-4 and will last many more months.
-Jet Blue will offer 1 daily non stop between Daytona Beach and JFK in NY beginning in January.
-The hard rock hotel and cafĂ© was on hold awaiting a decision on beach driving in front of the property.   The county has decided to ban vehicles and allow the $150 million project to go forward.  Construction should begin next year.
-A Westin hotel, is scheduled for completion in 2017 at the former Desert Inn site.
-A new Hilton Garden Inn is expected to be open this summer at 2650 N Atlantic Ave. Daytona Beach.
Ormond By The Sea Florida mid-year condo sales analysis
This table shows the condos sold in Ormond By The Sea Florida for the first 6 months of the year through the Daytona Beach Area Realtors@ Multiple Listing Service (MLS) and compares previous years.
Year
Sales
Low $
High $
Avg sold
Avg ask $
Avg Sq. Ft
per sq. Ft
Avg DOM
2015
53
47,500
360,000
157,656
167,025
1217
$131
163
2014
54
37,500
322,725
$152,806
161,269
1203
$123
106
2013
55
65,000
390,000
$154,222
167,058
1236
$125
122
2012
39
37,000
395,000
$136,588
148,156
1208
$113
108
2011
17
40,425
284,000
$144,320
152,898
1260
$121
94
2010
10
50,000
550,000
$195,211
227,900
1399
$139
226

Contact Ocean View Realty Group If you need information to help you buy, sell or rent your Ormond By The Sea home or condo. Lots of information is available on our web site www.ovrealty.com and our vacation rental web site at www.ormondbeachcondorentals.com or call us at 386-441-8245 or outside Florida a toll free call 1-800-356-3409. Email Deanna or Jeanne for rental information at ovrentals@aol.com Rhonda Lehnen is our Realtor® and can help with buying, leasing or selling. Email Rhonda at ovforsale@aol.com.

Tuesday, September 01, 2015

Ormond By The Sea Florida mid-year condo sales analysis 2015

Ormond By The Sea Florida mid-year condo sales analysis 2015
This table shows the condos sold in Ormond By The Sea Florida for the first 6 months
of the year through the Daytona Beach Area Realtors@ Multiple Listing Service (MLS)


Year
Sales
Low $
High $
Average sold $
Average
ask $
Average
Sq. Ft
sq. Ft. avg $
Avg DOM
2015
53
47,500
360,000
157,656
167,025
1217
131
163
2014
54
37,500
322,725
152,806
161,269
1203
127
106
2013
55
65,000
390,000
154,222
167,058
1236
125
122
2012
39
37,000
395,000
136,588
148,156
1208
113
108
2011
17
40,425
284,000
$144,320
152,898
1260
121
94
2010
10
50,000
550,000
195,211
227,900
1399
139
226
2009
12
95,000
474,900
209,027
234,864
1204
174
196
2008
11
137,000
210,000
169,490
187,000
985
172
133
2007
8
130,000
345,000
257,875
273,550
1233
209
81
2006
5
150,000
350,000
255,600
274,200
1131
226
101

The volume of sales has been steady for a few years and values are increasing . Both of those are good indicators for the market.   The increase in days on the market (DOM) may be a product of the lower inventories and market activity since condos that have been on the market longer are now selling.
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