Daytona Beach, FL - Even though the Daytona Beach condominium market is showing signs of its usual fall slowdown, it still looks like 2018 will finish with more sales and higher prices than 2017.
The latest Multiple Listing Service report shows 127 condos and condotels sold in the area in September, seven more than during the same month last year (120). Besides that 5% jump, the median sales price also grew by 15.5% to $234,000, a $31,500 increase over the September prior ($202,500).
Ron Wysocarski, the owner of Wyse Home Team Realty in Port Orange, says local condo market conditions appear to be "strong and steady" as we head into the final quarter of the year.
"These numbers are pretty typical for this time of year as our local families settle into a new school year and we await the annual onslaught of out of state snowbirds," Wysocarski added.
September's numbers paled when compared to August, where 155 condos and condotels sold for a median sales price of $242,000.
Of the 127 sold in September, 112 were condos which went for a median price of $254,000. The remaining 15 were condotels which sold for a median price of $50,000.
The biggest sale of the month took place at the Fountains Condos in New Smyrna Beach, where a unit sold for $1,750,000.
Inventory dropped slightly in September versus August, with 1,031 units listed at some point last month, 36 fewer than the month prior (1,067). September's inventory was 176 units higher than during the same month in 2017 (855).
So far this year, 1,195 condos and condotels have sold for a median sales price of $207,500. That's 17 more than at the same point last year (1,178), with a corresponding median sales price jump of just over 10% to $207,500. That's $19,000 more than the $188,500 posted during the first nine months of 2017.
