You love the idea of living on the beach in an oceanfront condo but you are not certain if it is in the budget and what it might cost. In the last 14 months, there have been oceanfront condos selling at every price point from $209K to $2M and this post will explore what to expect from each price point.
Let me remind everyone that as real estate agents…we are salesmen…and we work on the narrative and description for these sales to happen. An oceanfront condo complex does not necessarily mean a direct ocean view. I also didn’t specify the size of some of the oceanfront condos sold in the $209K to $2M price range…but I will! At the end of the article, we will go over what is available today in the oceanfront condo market (February 2024)
Let’s start with some expectations. If you want to be able to open the front door and see the ocean…you want to see the ocean from the kitchen, the dining room, the living room, and the primary bedroom…no problem. If you also want the ocean view from a second or third bedroom…there are corner unit options available. These options are also at the higher end in price.
If you prefer a ground-floor condo, that is great. Just know that you might not have any type of water view except for maybe the horizon off in the distance. If you aren’t very tall, you might not have that. What you do have is the convenience of easy access to your condo if you are at the beach. More than likely you can just walk up to your sliding door and come in that way & not have to deal with stairs or an elevator. If you have kids or grandkids…this could make beach time or pool time a little easier. If you have pups, it is also easier to take them for a walk.
If you are ok with a side view of the ocean or even a peek-a-boo view where you have to lean over the railing or stand on your toes…
If you are OK just being near the ocean, some condos have balconies facing west and you have the satisfaction of knowing you do not have to cross A1A, Ocean Beach Blvd, or Ridgewood Ave to get to the ocean.
Pay attention to the shape of the condo, how it sits compared to the ocean, and the direction of the balconies. You have buildings shaped like a capitol I (or small l) Depending on the floorplan & floor, you should have great water views. You have buildings shaped like an L or 7. If you are on the north or south side, you will have limited views. You have buildings shaped like a C. Same thing with the L or 7-shaped buildings…the north or south sides will have limited views. Some condos are perpendicular to the beach. If your condo is on the east end of the building, you will have a better view than those on the west side. There are square-shaped condos that have units facing out on all 4 sides. Some condos are considered oceanfront properties, they are East of A1A, they have private beach access, and there aren’t any of the condos that have an ocean view.
Most of the oceanfront condo sales in the last 14 months were in the $500K to $800K range (93) What does this get you? 2 or 3 bedroom unit with 2 baths, between 934 SqFt and 2340 SqFt. Most were in the 1400 to 1800 SqFt size. Most of these condos were built in the 70s or 80s with a dozen in the 90s and a couple in the 2000s. Some of them have been recently updated. Some of them are very retro. Most are somewhere in between. Kitchen cabinets from the 90s/early 2000s with granite countertops. New bathroom vanity with retro tub or shower. 8”-12” tile floors with carpet & a room or two with LVP.
If you want luxury and are comfortable with spending $800K to $2M, this was 20 units or 10% of our oceanfront sales from January 2023 to February 21, 2024. Most of these are 3 bedrooms 2 baths. There were 4 bedrooms with either 3 or 4 bathrooms. The largest condo sale was a penthouse in Beach Winds that had 5 bedrooms, 4 baths, and 4560SqFt in size. This was a beauty. The anomaly in the $800K+ range was a 2/2 1590SqFt in Ocean Oaks in Cape Canaveral. It was a beautiful condo, nicely updated on the 5th floor/top floor. The other condos were all over 2000SqFt. Most of the condos were built in 2001 or newer. The 4560 SqFt penthouse was the oldest, from 1978..and was beautiful. Some of these condos in the $800K+ range I wouldn’t describe as tired…You can tell they were well taken care of…just no updates in the last 10 years (+/-).
What can you expect for the under $500K condo? 87 of the 200 sales are in this price range. 37 are 1 bedroom. 4 were 3 bedroom/2 bath. The rest were 2 bedroom condos (most of them with 2 baths too). Most of the condos were built between 1959 and 1979 (& most of these were built in the 60s). 6 were built in the 90s and 1 sale from 2006. They range in size from 460 SqFt to 2027 SqFt. The * here is there is only 1 under 600SqFt and 1 over 1725SqFt. Most of the condos are under 1000SqFt (47 of the 87 sales). Can you get a good ocean view under $500K? Kinda. Can you get one under $400K? Not really. There were a few that had unobstructed views of the waves from inside the condo. Most of the condos that offered any kind of waterview, I would describe as a peek-a-boo view. You had to be on the balcony where it was a side view. 28 of the 87 were ground floor.
https://www.ericlarkin.com/oceanfront-condos
So that was the overview of sales history for the oceanfront Condo market in Cocoa Beach & Cape Canaveral…What is happening today? Depending on when you are watching this…we have about 230 condos for sale and 93 are oceanfront. 36 are under $500K. 44 are in the $500K to $800K range. 9 are in the $800K to $2.1M range. If you want brand new, there are 2 available at the Surf in downtown Cocoa Beach which is being developed by the Dorough Brothers (aka Howie D from the Backstreet Boys) There are also a couple available from other Dorough Brother projects (Flores Ocean Suites at $2.1M and Flores Del Mar $1.495M) You just need to let me know what you are looking for in an oceanfront condo & I will get to work!
Eric Larkin is a Broker Associate with Real Broker, LLC. He lives, works, and plays in the Cocoa Beach area. If you have questions about moving or relocating to Cocoa Beach and the Space Coast, let me know! I get calls, texts, direct messages & comments on my posts every day about the real estate market and things that are happening in Cocoa Beach and the Space Coast that I love answering. Ask me your questions on moving, relocating here, or anything about the community. I am here to help. I have been helping buyers and sellers with their real estate needs since becoming a real estate agent in 2003. My focus is always on helping, answering your questions, and doing everything possible to make certain you have a smooth transaction from beginning to end.
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