Daytona Condo Sales Drop While Prices Rise In February 2018 & 2017 Comparisons

By on March 12, 2018 in WNDB News

Daytona Beach, FL – Daytona Beach area condo sales have remained steady so far in 2018, but February sales dropped when compared to the same month in 2017.

According to the Daytona Beach Multiple Listing Service (MLS) provided by the Wyse Report, 94 condos were sold in February at a median sales price of $172,450. February sales numbers beat out January numbers by one condo sale but decreased 18% when compared to February 2017. Also, median sales prices dropped around 9% from January 2018 but jumped almost 12% since February 2017 in a year-over-year comparison.

“With a stronger economy this year, many area condo units are booked with renters or being used by their owners during Race Weeks, Spring Break, and the impending Bike Week festivities,” said the CEO of The Wyse Home Team at Keller Williams Realty, Ron Wysocarski. “It makes it more difficult to show units to prospective buyers and can affect sales totals on the short-term.”

The MLS also showed that 890 condos were available in February, which increased from January but decreased 7% from the 961 condos available in February 2017. The number of units for sale in February 2018 was also 14% less than were available in January 2016,

“The still low inventory levels and strong economic conditions make now a really great time for condo owners to sell fast and get top dollar,” said Wysocarski. “As we move into the spring and summer sales seasons, condo owners will likely find they’re facing more competition in the market, which could affect selling time and sales price.

Combined January and February data for condo and condotel sales:

  • February 2018: 94 condo/condotels sold at a median sales price of $172,450.
  • February 2017: 115 condo/condotels sold at a median sales price of $154,000
  • January 2018: 93 condo/condotels sold at a median sales price of $190,000.
  • January 2017: 79 condo/condotels sold at a median sales price of $185,000.

Separated February data for condos and condotels:

  • February 2018: 71 condos sold with a median price of $233,000.
  • February 2018: 23 condotels sold with a median price of $59,000.

February 2018 luxury Daytona Beach area condo sales included:

  • $1,196,000 condo sale at Island Crowne Condos in Daytona Beach on February 7.
  • $759,335 condo sale at Ebb Tide Condos in New Smyrna Beach on February 20.
  • $631,250 condo sale at Bella Vista Condos in Daytona Beach Shores on February 15.
  • $615,000 condo sale at Island Crowne Condos in Daytona Beach on February 21.

Copyright Southern Stone Communications 2018.

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