August 2007 Ormond By The Sea condo sales

Eight Ormond By The Sea condos sold in August 2007 which is more than the 3 last year in August but less than the 10 in August 2005. If we again look at just the 2/2 condos west of A1A, that accounts for 6 of the 8 sales and the average price is $212,483. However, there was one sale at $275,000 for an average of $199,980. The average in August 2005 was $291,000 and the average in August 2006 was $210,000. There are currently 134 condos for sale in Ormond By The Sea. An additional 17 listings have expired or were withdrawn from the MLS in August. Many more potential buyers are looking now that the prices have come down to a more affordable level. If this trend continues, I believe it will tend to stabilize prices and values at the current level. More aggressive buyer activity would be required to force prices and values to begin escalating again. 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 www.ormondbeachcondorentals.com