Cinnamon Beach at Ocean Hammock
Palm Coast, FL 32137
By Kendall Caputo
Cinnamon Beach at Ocean Hammock. Enjoy both ocean and golf course views from your balcony. Situated on the Jack Nicklaus signature Ocean course. This is resort living at its absolute finest with 2 pool complexes, one ocean side and the other lakeside, beautiful clubhouse and poolside grill, kids splash zone & rec room, fitness center. This resort, built by Centex Destination Properties, is one of the finest in all of Florida. Memberships to the world class Hammock Beach Club are also available to Cinnamon Beach property owners. Cinnamon Beach residences are available from the mid $200,000's to $750,000.
Market Update: May 29, 2013
In the first half of 2013 there were 10 Cinnamon Beach condos sold. The least expensive was a 1,300 square foot "C" unit facing the lake for $235,000 while the most expensive was a 2,000 square foot "A" unit facing the ocean. It sold for $593,000. Comparable properties in 2012 were selling for $190,000 and $380,000 respectively. The median price per square foot at Cinnamon Beach is also up from $177 last year to $218 this year. The current absorption rate at Cinnamon Beach stands at 11 months. An absorption rate is the amount of time it would take to sell all the existing inventory at the current pace of sales.