Daytona Beach, FL - Yearly home sales in the Daytona-area are one of the few things that were not slowed down by COVID-19 in 2020. Analysis of the Daytona Beach Mulitple Listing Service's data by Wyse Home Team Realty shows that single-family home sales in 2020 saw about a six percent increase over 2019 and the median price increased about nine percent over 2019.
Broker and CEO Ron Wysocarski said that it's a seller's market because while the number of houses sold increased, the number of homes available showed a marked decrease. "It's going to take a bit to replace that missing inventory and a lot of the ones going on the market are going under contract really fast so we're not moving the needle much as far as an increase in inventory."
In 2020, the number of active listings during the year was 8,231. At the end of 2019, the number was 9,178, about ten percent more.
As for 2021, Wysocarski said that we're seeing an inflection point in the market that may change how things occur this year, saying it's apparent that interest rates will go up from their record lows. "Purchasing power for buyers will go down a little bit. The pricing with the low inventory does not seem to be going down anytime soon. That's going to make it a little more difficult for buyers to get the house that they want."
