Daytona Beach, FL – Things might be a bit shaky with the Daytona Beach area condo market, but it doesn’t seem to be affecting the housing side.
The Daytona Beach Multiple Listing Service reports 513 single-family home sales for May 2018, an over 6% rise compared to the same month in 2017.
Median sales price also jumped up by nearly 6% last May versus the May prior, coming in at $227,500.
483 homes sold in May 2017 for a $215,000 median sales price.
Ron Wysocarski – the owner of Wyse Home Team Realty in Port Orange – thinks an increase in home listings lately is a big factor behind both those trends.
“I think these strong sales and median prices are likely to continue at least through the spring and summer,” Wysocarski added. “Single family home sellers continue to have the upper hand in negotiations, particularly in the mid and lower price ranges.”
MLS data shows 232 more homes listed last May compared to May 2017, equaling out to a nearly 11% increase. That’s a trend Wysocarski thinks will continue for the forseeable future.
“We continue to see inventory levels creeping higher, but buyer demand remains strong,” Wysocarski noted. “Port Orange and Ormond Beach have been driving this market for the last year or so.”
May’s home sales were nearly 13% higher than last April, when 455 homes changed hands for a $227,000 median sales price.
So far in 2018, 2,075 homes in the Daytona Beach area have sold for a median price of $227,500. That’s just over 3% (2,009) and nearly 11% ($205,000) higher, respectively, compared to the same time period last year.
Home listings also went up by 6% during that stretch, with 2,375 going on the market in May 2018. It was 2,143 the May prior.