March Brings Strong Recovery In Median Condo Prices

By on April 7, 2017 in WNDB News

Daytona Beach, FL – Median sales prices in the Daytona area condo market recovered from February’s temporary pricing dip and returned to the strong range the area saw as 2017 began.

An analysis of Daytona Beach Multiple Listing Service (MLS) data by The Wyse Home Team at Keller-Williams Realty showed there were 130 condo sales in January with a median sales price of $184,000. It’s a 6.5% increase from the sales totals seen the same month a year ago, and a 14% increase from February’s sales.

Median sales prices fully recovered from February’s price dip and the month ended with prices up 21%, year over year.

Inventory levels worsened in March as demand for area condos increased. Condo buyers in March were forced to search for properties in a market with 9% fewer condo listings than were available during the same month of 2016.

“Consumer confidence continues to soar,” said Ron Wysocarski, CEO of The Wyse Home Team at Keller Williams Realty. “It’s fueling our local real estate market as residents feel more secure investing in bigger, better homes and an increasing number of visitors investing in some of our area’s great vacation properties.”

March Daytona Beach MLS data for Condo and Condole Sales combined:

  • March 2017: 130 condos/condotels sold with a median sales price of $184,000.
  • March 2016: 122 condo/condotels sold with a median sales price of $152,000.
  • February 2017: 114 condo/condotels sold with a median sales price of $154,000.
  • February 2016: 77 condo/condotels sold with a median sales price of $169,000.
  • 2017 Condo Sales YTD: 323 condo/condotels sold with a median sales price of $175,000.
  • 2016 Condo Sale YTD: 304 condo/condotels sold with a median sales price of $154, 950.

March Daytona Beach MLS data for Condos and Condotels separated:

  • March 2017: 121 condos sold with a median price of $200,000.
  • March 2017: 9 condotels sold with a median price of $47, 300.

March 2017 highlights of luxury condo sales in the Daytona Beach area include:

  • A $900,000 condo sale in Minorca Condos, New Smyrna Beach, March 21.
  • A  $788, 125 condo sale at Palma Bella Condos, Daytona Beach Shores, March 21.
  • A $780,000 condo sale at Atlantic Villas, New Smyrna Beach, March 21.
  • A $717, 500 condo sale at Ocean Vistas Condos, Daytona Beach, March 9.

Copyright Southern Stone Communications 2017.

 

 

Subscribe

If you enjoyed this article, subscribe now to receive more just like it.

Comments are closed.

Top