"Ormond Beach & Flagler Beach, FL - Ocean Condos"

The following will give you a peek at the current condo market in Flagler Beach, FL and Ormond Beach, FL, to include Ormond By The Sea.  For purposes of this blog post, I have included ONLY those condos which offer an "Ocean Front or Ocean View" frontage:

(*Financing Note:  It's more difficult to obtain financing for condos in these challenging financial times.  It's not as tough as Miami, yet not a piece of cake either.  Because of high "Rental to Owner Occupant" ratios, as well as condo fee defaults, short sales, etc., "cash is king."  FHA loans are very tough and often require 35% down (well above the old 20% norm).  Your mortgage professional can guide you, regarding these matters.)

Flagler Beach:

Flagler Beach is a great town in Flagler County and offers a waterfront and beach counterpoint to the "old Florida" County Seat of Bunnell and the newcomer/fastest growing US city of Palm Coast.  Because of zoning and city ordinances, high rises are few, limited to one North of the pier and a small handful South of the pier, near the landmark water tower.

• There are currently 170 ocean front - ocean view units For Sale.
• They range from $99,000 (a 425 square feet, 1BR and the lone unit under $100K) to a high of $2,800,000.
• The upper end units tend to be at the Northern Peninsula end of town in exclusive gated, golf course communities.  They are often referred to as "Flagler Beach," but are actually a Palm Coast mailing address.
• A challenge to investor buyers (and a perceived blessing to some full time residents) is that renting a unit can be a city ordinance violation.  One must be in possession of a coveted "Rental License."  If your unit is not grandfathered, they are tough to come by... perhaps easier if you are in the city's "Tourist Commercial" area, between 9th Street, North and 9th Street, South.
• There are 24 units listed below $200,000.
• Past six month statistics:  
• Sold Prices
• Low = $101,000
• High = $1,150,000
• Avg = $343,000
• Median = $273,000
• Price Per Square Foot
• Low = $90
• High = $300
• Avg = $177
• Median = $169
• Days on the Market
• Average = 272 days

Ormond Beach - Ormond by the Sea:

Ormond Beach is a great beach town which basically extends South from Flagler Beach and ends at Daytona Beach.  For our purposes, we'll say that the "Ormond Beach Peninsula" extends a short way up A1A from Route 40 (Granada Blvd.) and comprises the direct beach front high rise condos.  "Ormond by the Sea" condos are low rises and are on the West side of A1A, with access to the beach by way of "dune walkovers."

• There are currently 88 condos For Sale.
• They range in price from $95,000 to $699,000. 
• 55 of them are under $200,000.
• Generally, with the exception of some of the pricier high rises, these units are easier to rent than their Flagler Beach cousins.  Most have a rental restriction of a 1 week to a 1 month minimum.  How strictly these are enforced, varies from condo to condo.
• Past six months statistics:
• Ormond by the Sea:

• Sold Prices:
• Low = $79,000
• High = $319,000
• Median = $139,000
• Average = $150,000
• Price Per Square Foot:
• High = $150
• Average = $108
• Median = $108
• Days on the Market:
• Average = 192
• Ormond Beach (North of Rt. 40):
• Sold Prices:
• Low = $82,000
• High = $240,000
• Median = $170,00
• Average = $165,000
• Price Per Square Foot:
• Average = $124
• Days on the Market:
• Average = 385                                                    

...So there you have it!  What does this mean?  You can get a great condo with a great ocean view... or direct ocean front, for under $200,000.  Many of these were selling closer to $500K in 2005/2006. Call me if you have questions... or want to go see property for yourself:
Direct: 386-931-1987  or  email: frankzedar@gmail.com