Daytona Beach, FL – For the second straight month, home sales go down and prices go up in the Daytona Beach area.
The Daytona Beach Multiple Listing Service reports that 457 single-family homes sold this past July for a median price of $224,700.
In terms of sales, that’s a 4.7% drop compared to the 503 homes sold in July 2017 and also a 4% drop versus the 457 posted last June.
Price-wise, it is a 2% median increase compared to last June’s $220,000 and 5% higher than the $214,000 posted for July 2017.
Ron Wysocarski – owner of Wyse Home Team Realty in Port Orange – says the numbers are starting to show a shift towards buyers instead of sellers.
“The pendulum has not yet swung the Daytona area into a buyer’s market,” Wysocarski added. “But sellers could find it takes a little longer to sell their home now that inventory levels are rising and the market is moving into a more natural rhythm.”
Compared to the first seven months of last year, 2018 is still ahead in overall sales (3027 versus 2992) and median sales price ($226,500 versus $210,000). That’s a difference of 1% in actual sales and 7.8% in median price, which Wysocarski says he’s happy to see.
“Prices [are] holding strong as the frenzied pace of the local real estate market begins to settle down and families send their children back to the classroom,” Wysocarski noted.
The number of local homes on the market continues to grow at a faster pace than last year. Per MLS figures, inventory went up 14% in July, with 2,407 homes listed at some point. That number was at 2,111 the July prior, a difference of 296 extra homes.
For the first seven months of 2018, 338 more homes were up for sale (6,147 versus 5,809) versus the same time period in 2017, a difference of 5.8%.