Single-Family Home Sales Up Slightly And Prices Soar Despite Limited Inventory

By on September 19, 2016 in WNDB News

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Daytona Beach, FL – Single-family home sales in August went up slightly as prices soared when compared to the same month last year, despite the fact that 212 fewer homes were listed for sale.

According to the Daytona Beach Multiple Listing Service (MLS), during the month ending August 31, 2016, 453 existing single-family homes (detached) were sold in the Daytona Beach area at a median sales price of $195,000. That’s a 2.7% increase in sales and a 16% increase in price compared to August of 2015 when 441 homes were sold at a median sales price of $167,900.

Compared to the month prior, prices and sales remained fairly steady. 438 homes were sold in July of 2016 at a median sales price of $195,000.

Year-to-date comparisons have total sales down by 4.6% and median sales prices up 18%. So far this year, 3,317 homes have been sold at a median sales price of $190,000. This time last year, 3,470 homes had been sold at a median sales price of $160,750.

“Inventory levels remained low in August, but conditions have begun to improve,” said Daytona Beach Area Realtor Ron Wysocarski, leader of The Wyse Home Team at Keller-Williams Realty in Port Orange, FL. “We are seeing sales numbers rise as more homes hit the market and provide buyers more options to consider as they shop. Still, demand remains strong, so sellers still on the fence could fetch a good price and fast sale for their home if they list now.”

Buyers looking for a detached single-family home in August were searching in a market with 10% fewer homes for sale compared to the same month last year. In August of 2016, 1,838 detached single family home listings were active at some point during the month compared to 2,050 in August of 2015.

Copyright Southern Stone Communications 2016.

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