Volusia County, FL- Home sales for the month of July have fallen by double-digit percentage points as inventory stays low, giving buyers 300 fewer homes to choose from than during July 2015. Port Orange Keller Williams realtor Ron Wysocarski said the low inventory is the story.
Median sales prices stayed steady compared to June and were up substantially when compared to a year ago. According to the Daytona Beach Multiple Listing Service (MLS), 437 existing single-family homes (detached) were sold in the greater Daytona Beach area during July 2016.
The median sales price during July was $195,000. Wysocarski said that new home construction purchases are driving the price up. He said buyers are frustrated with the selection of existing homes and are opting to buy new homes.
For the year-to-date numbers as compared to the same time period in 2015, there have been 171 fewer homes sold but the median sales price has gone up by $29,800.
Wysocarski said that he thinks that many people are waiting for the outcome of the election in November. He said that many people are taking a wait-and-see approach and he expects that there won’t be noticeable changes until after the first of the year.
Copyright Southern Stone Communications 2016.