DB Area Real Estate Market Sees Busy Spring Home Sales Season

Daytona Beach, FL - The busy spring home sales season launched with fervor in March around the greater Daytona Beach area real estate market.

For the month ending March 31, 2017, the Daytona Beach Multiple Listing Service (MLS) reported that 453 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $199,900. It amounts to a slight reduction in sales and 14% jump in median sales prices, year over year. Compared to February month over month comparisons showed prices remained strong and steady as sales totals skyrocketed by more than 36% as part of the spring season's usual ramp up in home sales.

Comparisons to previous months and 2016 SFR sales figures are below:

• March 2017 - 453 sales, $199,900 median sales price.
• March 2016 - 461 sales, $175,000 median sales price.
• February 2017 - 333 sales, $200,000 median sales price.
• February 2016 - 286 sales, $180,000 median sales price.
• YTD 2017 - 1096 sales, $200,000 median sales price.
• YTD 2016 - 1098 sales, $179,900 median sales price.

"The spring home sales season began its annual ramp-up in March with some gusto. And so far the market pace in April is shaping up to be a bit frenzied," said Daytona Beach Area Realtor Ron Wysocarski, leader of The Wyse Home Team at Keller-Williams Realty in Port Orange, FL. "Sellers with properly priced, high-demand homes are landing contracts at prices above asking within hours of listing. If you're considering selling this year, the time for thinking is over and the time for listing has arrived."

The Wyse Home Team also analyzed inventory levels across the greater Daytona Beach area. According to MLS data, buyers shopping for a detached single family home in March were forced to search in a market with the 9.7% fewer available homes than buyers a year ago were able to consider. In total, 1716 single family homes were listed for sale in March. It's 185 fewer homes than the 1901 that were listed during the same period in 2016, and it's 18 fewer homes than were on the market in February this year. The detailed statistics are as follows:

• March 2017 - 1716 single family home listings were active at some point during the month.
• March 2016 - 1901 single family home listings were active at some point during the month.
• 2017 YTD - 1905 single family home listings have been active so far this year.
• 2016 YTD - 2095 single family homes were listed by this time last year.

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