Since the initial announcement in February 2017, Latitude Margaritaville in Daytona Beach, Florida has been generating big buzz in and out of the active adult world. It’s been so popular that we named it 55+ Community of the Year for 2018. Now, almost two years since it was announced, the Minto-built community is seeing its first resale homes hit the market.
Two resale homes have hit the market recently, ranging in price from the mid $300s to the mid $400s. They both include two bedrooms and two or two-and-a-half bathrooms. Sizes range between 1,785 and 2,338 square feet. Features include quartz countertops, spacious kitchens, and of course, the community’s maintenance-free lifestyle.
These certainly won’t be the last resale homes to hit the market in this popular community, but they represent the first opportunity for buyers who wanted to wait and see how the community developed before diving in.
There’s also a new wrinkle in why potential homebuyers might want to get in on Latitude Margaritaville sooner than later. In November it was announced that phase two of the community had been approved, with the potential to increase the home count to over 6,000. However, the Daytona News-Journal reported this week that Minto would not, in fact, be purchasing the land intended for phase two.
While the developer and local government haggle over fees, that means that LMDB tops out at 3,092 single-family homes for now. Given the current rate of sales, that could be expected to sell out within six or seven years.