Condo Sales Rise in Volusia County
The market has changed in Volusia and Flagler Counties for condos. They are selling at record low prices and to cash buyers who see the bottom of the market. Many units in the area are being auctioned off at prices at or less than $200
per square foot, which - according to Waverly Property Management - is less than the condos would cost to be built at today’s
price. Condominiums that were built in the last couple of years, and were
introduced to the market at $700,000, are being sold at prices of $495,000 to below $330,000, a substantial 35-55% off the original values.
According to Waverly Property Management, in a recent press release, "In this year’s first quarter, 273 condos were sold in the local market, a nearly
10% increase in units sold over the first quarter sales of 2008. Local market
experts believe buyers are recognizing that condo values are at their floor
price and values will gradually increase from this point forward. Many are
seeing it as a great investment opportunity for owning vacation home rentals and
also an opportunity to own the beautiful beachfront condo they’ve envisioned for
their retirement. It’s a win-win for buyers in the local condo market."
The key to any market is getting in on the ground floor. Our Volusia/Flagler county condo market
appears to be in just that position. Don't lose this opportunity to enjoy the next cycle of real estate appreciation.
Sherry Armstrong, Realtor
sherry@sherryarmstrong.com
386-679-3191