Daytona Beach, FL - For the fourth consecutive month, condo sales are down again in year-over-year comparisons.
That's according to an analysis of the Daytona Beach Multiple Listing Service carried out by Wyse Home Team Realty in Port Orange when compared to sales from last year.
120 condo units sold around the Daytona Beach area in September, which is a 7% drop compared to the number of units sold in September of last year. Sales volume was also down in both monthly and annual comparisons.
The total value of condo sales in September racked up 24% lower than August's numbers and 16% lower than the same month last year. Year-to-date, condo sales are down around 3.5%
"Condo markets in many areas of the country are experiencing a significant cool down right now," said Ron Wysocarski, broker and CEO of Wyse Home Team Realty. "Locally, condo values are holding steady. But, with the latest downward sales trend continuing in the Daytona condo market, we're keeping a watchful eye on the situation."
Fortunately for condo owners, median sales prices have remained steady. The median price of condo sales during September was marginally higher than during the same month last year. It was also 4% higher than the median sales reported in August. Year-to-date, the median condo sales price is level with the first nine months of 2018.