Daytona Beach, FL-Condo sales in Daytona Beach are falling and prices are rising, according to a recent analysis conducted by The Wyse Home Team at Keller-Williams Realty in Port Orange. Condo sales around the greater Daytona Beach area fell by 5.6 percent from April of 2015 compared to April of 2016.
During the same time period, prices have jumped up by more than 48 percent. Median sales prices soared from 130,000 in 2015 to 193,500 in April of 2016. CEO of the WYSE Home Team, Ron Wysocarski, said that there is more interest in two-to-three bedroom condos this year. In 2015, more buyers were interested in what’s known in the business as a condo-tel, which is more like a hotel room.
Wysocarski went on to say that high-end condo sales and their price range are down slightly from 2015 to 2016 in the greater Daytona Beach area. “Sales of luxury condos over $500,000 were not as strong as we hoped in April. Executive condo sales in the $300,000 to $500,000 price range also were down slightly,” Wysocarski said. “We are closely monitoring the trend.”
Copyright Southern Stone Communications 2016.