Ocean Villa sales history
Looking at the entire sales history of Ocean Villa, I compared the two bedrooms there with four other buildings that were constructed by the same developer and had identical floor plans. The graphs show a comparison of recent sales, the entire history, sales volume, and annual percentage change. Condos on the west side of the beach tend to demand a slight premium to those located in central Panama City Beach.
Ocean Villa recent sales
Updated 5-02-17: Our last four sales were unit 2005, 305, and 1804. They sold between 264k and 285k. Here are the Ocean Villa condos currently for sale.
Pricing expectations going forward
Ocean Villa is done with its distressed inventory. There are two condos for sale asking between 294-299k. Pricing is continuing to slowly push higher. It is worth mentioning that buyers will continue to pay more for units with upgraded tile and nice furnishings.
Recent pictures taken
Click on any image below to enlarge.
Updated 2-05-16: Our last sale was 302 on December 18, 2015. The price was $273,500. This condo was a mixed bag. There were stainless steel appliances and upgraded bathroom vanities, but the furniture was less than desirable. Lower floor units are often selling for higher prices than higher floor units with everything else being equal.
Updated 9-19-15: Our last sale was 1801 on June 4, 2015. This condo was in good shape and had nice furniture. This makes 7 sales for the year to date. July and August were quiet. Showing activity has picked up significantly in September and that usually precedes a condo going under contract.Updated 6-2-15: We are now at 6 sales for the year, which is similar to last year. 1402 sold for $260,000 with very rough furniture. 1903 sold for $269,000 with an 18 inch tile through the kitchen and dining area. This condo also has nice furniture. 1302 sold for $253,000 with throw away furniture. Here are the Ocean Villa condos currently for sale.
Updated 4-12-15: Pricing moved up a bit in the first quarter of 2015 with 1501 selling for $275,000, 1804 selling for $263,750 and 1104 selling for $249,000. I was a bit surprised that 1104 didn't sell for more.
Updated 1-5-15: Not much has changed since my last update. Unit 401 sold for $260,000. It is worth mentioning that unit 401 was a non-rental and in great condition. The condition of 401 reminded me a lot of 2206. Unit 1701 as a nice clean unit with white wood furniture. It sold for $255,000.
Updated 9-29-14: The price fluctuations are primarily related to the condition of the condominiums that are being sold. The last foreclosure, 2203, sold at $230,000. 405, and 1502 sold at $250,000. 2206 had upgraded tile and was nicely furnished. It recently sold at $265,000. This was very similar to 602 which sold earlier in the year for $262,000.