Ormond By The Sea, Florida Condo Market, October 1, 2009

Ormond By The Sea, Florida Condo Market, October 1, 2009

For Ormond By The Sea, Florida through the Daytona Beach Area MLS the inventory of condo for sale continues to be high at 103. There are 7 condos under contract awaiting closing.
Using the 5 sales in September as the basis would mean there is over 20 months or inventory, which continues to be higher than what we would expect in a "normal" market. Generally a 6-month supply of inventory would be considered a balanced or normal market. Of the 103 condos for sale in Ormond By The Sea, Florida, 32 are on the beach or 3 bedroom units asking $250,000 or more.
Asking prices for 55 or those for sale are under $200,000 with 23 of those being $150,000 or lower. The lowest asking price is $95,000 for a Kingston Shore condo and the highest is $790,000 for a 4 bedroom at the Tiffany.