Volusia County, FL-During the month of May, analysis shows a slight rise in condo sales in the greater Daytona Beach area year over year, with three more condos selling in May 2016 than sold in 2015 or April 2016. There were 121 condos sold in May. Prices dropped $2,500 from last May to this May. Prices from April of this year to May of this year tumbled $11,500.
Port Orange Keller Williams realtor Ron Wysocarski said sales are at a plateau, mainly due to low inventory. He also said the drop in prices from April to May of this year is likely because of the type of condo sold, such as ocean-front or street-front.
Wysocarski went on to say, “While the overall market inventory remains very low, we’ve seen more condos come onto the market to help the gap between the high demand and low inventory.
“Luxury condo sales stayed steady year-over- year, but executive condo sales in the $300,000 to $500,000 price range were down by about 28 percent in May,” Wysocarski said.
The median sales price for the combined 121 condo and condotels sold in May 2016 was $182,000. That’s three more units sold but the average price overall fell $2,500 from May of 2015.
The number of condos/condotels did not change much year to date over 2015. In the first five months of 2016, 548 units were sold with a median price of $165,000. For the same moths in 2015, the number sold was 547 with a median price of $160,000.
Copyright Southern Stone Communications 2016.