June Condo Median Sale Prices And Numbers Down In Daytona Beach

By on July 13, 2016 in WNDB News

beachside condo concept

Volusia County, FL-Condo sales and median sales prices have slipped a bit in the Daytona area for the month of June. Port Orange Keller Williams realtor Ron Wysocarski, said analysis shows sales and prices have dropped year over year in June.

The Daytona Beach Multiple Listing Service (MLS), showed 132 condo sales in June. That’s a slight increase in sales over May, but it’s about a 7.5 percent drop in sales compared to June 2015.

In June of 2016, the condo and condotel median sales price was $167,500. That’s down $2,500 from June of 2015. The change in prices from May to June of 2016 was even steeper. The average price in May was $182,000.

Wysocarski said, “I think we’re going to see the market softening and cooling down a bit as the year progresses and 2017 begins. He also said, “A certain segment of the buying population steps back as summer progresses.”

The fact that this is an election year and with the fluctuations seen in the stock market, Wysocarski said some people are taking longer to make a purchasing decision.

In some large markets, like New York and California, luxury condo sales are already cooling off according to Wysocarski. He said, “Locally, sales were down year over year in the top pricing bracket, but median sales prices of luxury units remained strong. Bottom line is someone hoping to sell a high-end condo this year should really get it listed now.”

And with prices falling and interest rates at the lowest they’ve been in four or five years, Wysocarski said buyers could find a bargain available that might not have been available 60 days ago on price.

Copyright Southern Stone Communications 2016.

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