Daytona Beach, FL – While area condo sales improved in April, median prices fell for the first time in months.
The latest analysis of the Daytona Beach Multiple Listing Service by Wyse Home Team Realty shows 155 condo units sold around the area in April.
That marks a 6% increase in sales compared to the sales totals in April of last year.
However, year-to-date sales remained down 3% compared to the number of condos sold during the first quarter of last year.
“We’ve enjoyed several years of constant growth,” said Ron Wysocarski, Broker & CEO of Wyse Home Team Realty. “These little swings in sales and prices are telling us that the market is neutralizing.”
While there were healthy gains in the sales totals, the MLS report shows sales volume was up only marginally by 0.5%.
That’s due to a 6% median price drop in the area’s condo market during April.
The median condo sales price in April was $195,000, down $12,500 from median sales prices in April of last year.
Meanwhile, monthly comparisons showed April condo sales were stronger than in march as median prices fell dramatically.
But, on the upswing of things, condotels seem to be fairing a bit better than condos did in April.
“Condotel sales around the Daytona beach area rebounded a bit in April after being a bit low the past couple of months,” Wysocarski said.
Still, according to Wysocarski, overall condo sales are down in year-to-date comparisons.