Daytona Beach. Plaza Resort & Spa. June 2012 Market Snapshot

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

Oh my…

I am looking at Plaza Resort & Spa in Daytona, our premier condo-hotel oceanfront resort, and all I can see is the list of 12 units for sale on MLS…

12 units in Plaza Resort & Spa? This is a far cry compared to 2009, when we had 52 units for sale there, and the prices were from the low $30s.

Funny that I receive calls every day from people who still think that our market is going down. But hey, there are always those who believe what they want to believe. Seeing firsthand make no difference to them…

Here is the list:

The Plaza Resort & Spa in Daytona Beach

I think it speaks for itself.

This one-bedr unit (#624) is one of the largest floor-plans in the resort. The unit faces the city. 6th floor is not high enough for you to be able to see the Intracoastal.

The Plaza Resort & Spa. Daytona Beach

You can see the bridge, it is western exposure, and the view is pretty good. It has a narrow balcony.

But no view of the ocean.

Also, because the bedroom is required to have a window, it is a weird unit. The bedroom has a window and a balcony, but in the Living room and kitchen there are no windows at all.

It is still a very good deal because of the price. The unit has a glass cooktop and plenty of space for a larger family on vacation.

The least expensive unit with good ocean view is 1011 on the south side. Small unit, plenty of light, excellent panoramic view of both the ocean and the city/river.

Least expensive direct oceanfront unit is #334. This is a handicap unit. Very small (size in the chart from the agent, and this is mistake. It is 364 sq. ft.). though it is direct oceanfront unit, the view of the ocean is limited because the balcony on the third floor is solid wall and it is high. So, when you are standing on the balcony, you have a good view, but if you sit in the unit, you hardly see any ocean.

I must tell yo that the market is changing so fast. Just a month ago there were 26 units for sale in Plaza.

Just wow...

P.S. Plaza Resort 7 Spa is a premier Condo-Hotel resort in the heart of Daytona Beach. 323 studios and suits, excellent pool, convention space, restaurant, bar... One of the nicest and most popular condo-hotels in the area. Initial prices after conversion from a hotel to a condo-hotel were from the mid $200K to way over $400K. Today's price, even though they are higher already, than where they were 2 years ago, are ridiculously low compared to 2005-2006. 

Picture of Jon Zolsky

 

Condo-hotels, including Plaza Resort & Spa, can be a good alternative to more expensive Oceanfront condos. If you are interested in condo-hotels or condos in Daytona Beach area, call me at 386-405-4408

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Rainmaker
988,648
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.com 305-931-6931

Ion, great market update, it is amazing, how "dry" invetory is all over in Florida. Same in our area.

Jun 18, 2012 09:47 PM #1
Rainmaker
177,110
Erv Fleishman
Realty Associates - Boca Raton, FL
Luxury Prop Specialist Realty Associates

What is the total number of units in the complex?

Does this mean that you have been fortunate to have all these sales?

Jun 18, 2012 10:41 PM #2
Ambassador
1,338,414
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Erv - 323 units total. 100 were never sold, the developer was holding them, and now the receiver got them, they are renting them and not selling them.

No, not all of those my sales. i do sell there , though

Jun 19, 2012 12:07 AM #3
Ambassador
1,338,414
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Evelina - you should be feeling this even more than we here. It comes from the south, we are always late

Jun 19, 2012 12:08 AM #4
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1,551,118
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Jon, nice to see the inventory going down, as it reflects more sales. Hope the biz stays healthy for you. Very thorough amount of infomation on this condo-hotel.

Jun 19, 2012 07:13 AM #5
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1,889,223
Judi K Barrett
Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma - Idabel, OK
Broker/Owner, Integrity Real Estate Services -IDAB

Jon, I am a fan of the spreadsheet style of displaying information.  I'm sure that your readers are going to appreciate this info.  

Jun 19, 2012 07:26 PM #6
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1,338,414
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Gary - thank you. And yes, inventory is less and it is noticeable.

Jun 19, 2012 10:26 PM #7
Ambassador
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Judi - I always have trouble with fancy graphs. I skip them. But something as simple as spreadheet is absolutely fine for me. Thank you

Jun 19, 2012 10:27 PM #8
Rainmaker
1,246,674
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Jon - The facts do not lie!  I think a majority of the world still thinks property values in the entire state of Florida are declining, but that is far from the truth in my area.

Jun 21, 2012 07:58 AM #9
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Michelle - it is no longer true in our area as well. But how difficult it is to break the inertia!

Jun 21, 2012 10:00 AM #10
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Jon Zolsky, Daytona Beach, FL

Selling Daytona paradise for heavenly good prices
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