2007 Ormond By The Sea Condo Market

There were 50 Condos sold in Ormond By The Sea in 2007 compared to 43 in 2006. Five of the 2007 sales were listed by Ocean View Realty Group. At the end of 2006 there were 151 Condos for sale and at the end of 2007 there were 125. Many owners, espewcially those that purchased at the higher end when the market was hot are holding out for prices to go back up before putting their property on the market. Some would face a substantial loss if their property sold in the current market. Almost half of the 50 Condos sold in 2007 sold for $215,000 or less. There were 11 sales of 2 bedroom, 2 bath, ocean view condos above the first floor for $215,000 or less. That compares to zero in 2006. Of the 10, 2006 sales under $215,000 all were non ocean view or first floor units. Selling prices for ocean view condos across A1A from the beach in 2006 ranged from $265,000 to $346,000. Those selling prices are pretty much unattainable in the current market. 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/