Daytona Beach, FL – It’s another rocky month for the condo market on the World’s Most Famous Beach.
That’s according to the latest analysis of the Daytona Beach Multiple Listing Service by Wyse Home Team Realty in Port Orange. That data shows a notable drop in July condo sales, compared to condo sales the month prior.
Throughout July, 113 condo units sold around the Daytona Beach area, which is a 19% decline in sales, year over year. It’s also a 22% drop compared to June. Sales volume was down by 8% in monthly comparisons and down 4.8% in annual comparisons.
Meanwhile, there was some uplifting news out of the latest report. The median condo price in Daytona during July sat at $205,900, which is 17% higher than the $175,100 median price seen in June.
It’s also 12.5% higher than the median price in July of 2018. But median prices were still lower than May’s, which sat at $207,000.
“It’s good to see the median sales price back on track,” said Ron Wysocarski, Broker & CEO of Wyse Home Team Realty. “Another month of lackluster condo sales is a concern, though.”
Year-to-date, sales are down slightly while median prices were up, compared to the first seven months of 2018.
Vacation sales took a hit too, according to Wysocarski.
“Vacation condo sales were down dramatically in July,” said Wysocarski. “Condotel sales dropped 57% from the number sold in July of 2018.”
They were also down 35% from the totals seen in June.
There were some other highlights seen around the area, sales-wise. One unite at Minorca Condos in New Smyrna Beach sold for $1,150,000, which is $50,000 over the listing price, according to Wyse Home Team Realty.