Daytona Beach, FL – Condo sales and prices were down in the Daytona Beach area for the month of December when compared to the same month last year… but sales were steady when compared to the previous 3 months.
According to a report from the Wyse Home Team at Keller-Williams Realty, 89 condos were sold in December of 2016 at a median sales price of $177,253. That’s an 18% drop in sales when compared to December 2015. The price dropped just slightly, year over year. 109 condos were sold at a median sales price of $180,000 in December of 2015.
2016’s December sale numbers were very close to what we saw in November, but the median sales price dropped significantly… partly due to fewer high luxury condos (priced at over $500,000) being sold. In November of this year, 88 condos were sold at a median sales price of $201,250.
According to Ron Wysocarski, the CEO of the Wyse Home Team at Keller-Williams Realty, low inventory levels were the story of 2016, and December was no different. Inventory numbers for the month were down by 7.8%, and levels for the year of 2016 were 17.8% lower than they were in 2015. Despite these inventory issues, the 2016 calendar year ended with a few more condo sales than 2015. 1,369 condos were sold in 2016 at a median sales price of $176,000, compared to 2015 when 1,362 condos were sold at a median sales price of $167,250.
“As anticipated, the condo market was strong in 2016 and it ended on a happy note,” said Wysocarski. “Although low inventory levels caused some concerns in 2016, determined buyers pushed through the difficulties. The demand created confidence among sellers, generating new listings for buyers and strong condo values for everyone.”
Copyright Southern Stone Communications 2016.