Volusia County, FL-Buyers know single family home inventory is on the low side for many areas of Volusia County. The number of home sales in April dropped by about 6% on average from 2015 to 2016 across the area but Port Orange Keller Williams realtor Ron Wysocarski said that's not the case in all areas.
The number of homes sold in the city of Daytona Beach rose by 25% from March to April of this year and the average sales price increased by 50% in April. Wysocarski said that the increase in price is likely due to the type of homes being sold. In Ormond Beach and Port Orange, he said there are fewer homes selling because there are fewer homes available.
Wysocarski said that the homes that do sell if priced well, sell rather quickly. Less choice is causing some would-be buyers to decide to rent for another year. Wysocarski said until more inventory comes on the market, the situation will not change.
For the future, Wysocarski said buyers should keep in mind that the low inventory could be temporary. He said if you're not finding what you want, exercising a little patience and getting with the right consultant can be super important. Wysocarski said if you do find the house that you want but it's priced a little higher than what you were planning for, consider taking it because rates are super low right now.
The Wyse Home Team also analyzed MLS sales data within specific city limits for Ormond Beach, Port Orange and Daytona Beach. The detailed statistics are as follows:
· City of Daytona Beach: 70 home sales, $155,250 median sales price. (Sales up 25%, Prices up 50% from March.)
· City of Ormond Beach: 119 home sales, $208,000 median sales price. (Sales down 6%, Prices down 1% from March.)
· City of Port Orange: 82 home sales, $218,000 median sales price. (Sales down 23%, prices up 3% from March.)
Copyright Southern Stone Communications 2016.
