June Home Sales: Prices Soar As Low Inventory Level Continues

By on July 21, 2016 in WNDB News

Young couple home sold sign

Volusia County, FL- Year-over-year the number of home sales in June for the Daytona Beach area fell by 10 percent but the median price increased by 26 percent. Port Orange Keller Williams realtor Ron Wysocarski reports that there are more than 3000 properties on the market right now.

In the month of June, 467 existing single-family homes (detached) were sold in the Daytona Beach area with a median home sales price of $201,000. Wysocarksi said while there are homes available, with prices up, many buyers are waiting for the right house.

Another force driving up prices is new construction. Wysocarski said newer homes are bringing up the median price. The June price has gone up by $42,000 from June of 2015 with fewer houses being sold.

The number of homes sold for the first six months of the year has fallen from 2534 in 2015 to 2401 in 2016. Median sales prices went up quite a bit from 2015 to 2016. In 2015, the median sales price was $159,000. For 2016, it’s $194,900.

Wysocarski said that typically some buyers drop out of the market as we get closer to the beginning of the school year. The fact that this is an election year can also cause some buyers to hesitate.

Sales data was analyzed for Daytona Beach, Port Orange and Ormond Beach. The city of Ormond Beach is seeing the highest median price at $245,000 with 135 homes sold in June. Prices were up 8 percent from the month of May but the number of sales fell off by 10 percent.

In Daytona Beach, 78 homes were sold, with the median price staying flat at $165,000. The number of homes dropped by 26 percent from May 2016 to June 2016.

Port Orange homes sales fell by 14 percent from May until June, with 105 closings for June. The median sales price was $220,000.

Copyright by Southern Stone Communications 2016.

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