Daytona Beach, FL - Median prices might have increased, but it looks like home sales in Daytona Beach dipped for the first time in months.
Recent analysis of the Daytona Beach Multiple Listing Service (MLS)—carried out by Wyse Home Team Realty—found that 510 homes sold in July with a median sales price of $326,250. With that, sales are 8 percent lower than the number of homes sold in June, 16 percent lower than the number of homes sold in July 2020, and 3 percent lower than sales in July 2019.
Meanwhile, the median sales price rose 21 percent from July 2020 and was nearly 2 percent higher than June 2021. Sales volusia was also down slightly from June, but was still 4.5 percent higher than July 2020 when home values were lower.
Year-to-date, home sales are up nearly 12 percent and the median home sales price is 19.5 percent higher than the same seven-month period from 2020.
"This is the first dip in home sales we’ve seen for months," said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty. "Home sales last summer may not be a good basis of comparison because the market was trying to catch up after big pandemic related closures. But last month’s home sales also fell slightly below July 2019 when market conditions were stable. So it’s something we’re watching."
The number of homes listed for sale rose 3 percent in July over June, but inventory remains 32 percent lower than the number of homes listed on the MLS in July 2020. Year-to-date, listings are down over 15 percent over the same seven-month period in 2020.
Throughout the area, Ormond Beach had the highest number of sales with 135 homes sold for a median sales price of $395,000. New Smyrna Beach had the lowest number of sales with 58 but had the highest median sales price in the area with $444,838.