MLS: Daytona Area Condo Sales Jump 11% In July

By on August 15, 2018 in WNDB News

Daytona Beach, FL – Condominium sales in the Daytona Beach area have almost caught up to last year’s pace after a brief hiccup earlier in the year.

The latest report from the Daytona Beach Multiple Listing Service shows 138 condos and condotels sold last month for a median sales price of $190,000. That’s 14 more units sold than in July 2017 (124), an 11% jump.

The median sales price for this past July was only $500 higher compared to the July prior, but despite that minimal gain, condo sellers are getting more money this year than they were last year.

Daytona Beach MLS data shows 897 condos have sold in the area for a median sales price of $196,000 over the first seven months of this year. That’s 8% – or $15,000 – more than for the same time period in 2017, even though there were three more sales during that stretch.

Ron Wysocarski – Broker and Chief Executive Officer of Wyse Home Team Realty in Port Orange – called July a good month for sales, but he’s starting to see signs that the market is shifting from a “heavy” seller’s marker to a more balanced one.

“Now that inventory levels are stabilizing, we anticipate the local real estate market will settle into a more natural
rhythm in the months ahead,” Wysocarski added.

Like it was in 2017, July’s sales numbers dropped off when compared to the month prior. 13 more condos sold in June, but the median sales price that month was $182,000, which means that category grew 4% in July.

Inventory remained mostly flat over the last two months, with 1041 condos listed in July and 1045 for June, per MLS data. However, inventory grew 7% in July when compared to the 969 units listed in July 2017.

Of the 138 sold during July, 19 were condotels which went for a median sales price of $60,000. The remaining 119 were condos which sold for a median price of $222,975.

Among those were four units which sold for over half a million dollars, three of which went for over $600,000. Two of those were at Marbella and Tuscany Shores in Daytona Beach Shores, while the other was at Seacrest in New Smyrna Beach.

Wysocarski says he’ll be looking closely at how the market reacts when new construction on the beachside wraps up and more of those higher-priced condos go up for sale.

“It’s exciting to see some really nice condos moving,” Wysocarski noted.

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