Oceans Five Condo in Daytona Beach Shores

My client bought a unit in Oceans Five in Daytona Beach Shores 2 years ago. He bought it for a good price, unit needed some updating, and Jim, a builder himself, did a good job. He was renting it short terms, and, like it is usually in Daytona Beach area, it is challenging.

Maybe things changed for Jim, but he called me the other day and said he would like to sell his unit. So, let us see what is happening in Oceans Five in Daytona Beach Shores...

There are 3 active for sale units in Oceans Five:

None of them are foreclosure or short sale. The one for $148,900 need updating, but it sold partially furnished. Two others are sold fully furnished. The one for $184,900 is remodeled with granite in the kitchen.

Here are all sold units n Oceans Five:

If you look at the dates, you would see that prices went up, and last sales are higher. It is across the board for condos in the area. Now we are in the slow market (seasonally) and it is not clear whether the price continue to climb, stall at this level until spring, or drop.

Of course, selling prices are still low, but the lowest in the Oceans is that unit in Oceans Five for $148K. Six units are for sale for less than $170K, but there are units over $200K asking.

Also, interesting to note, that there are only 2 units for sale now, which are distressed units, meaning bank owned or short sale. And they are among the highest priced units in the whole Oceans.

This is for all those who are calling asking for foreclosures and short sales, thinking that those are always the best priced units. Not always so. Actually, often not so.

As for Jim, with the way the prices are today, if he sells, he at least will not lose money.