- November 23, 2024
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by: Heather Scofield
Marketing Director, Wyse Home Team Realty
An analysis of Daytona Beach Multiple Listing Service data by Wyse Home Team Realty showed that 200 condo units were sold around the Daytona Beach area in April with a median sales price of $239,000. It’s 147% higher than condo sales in May 2020, when all but Florida’s most essential services were shut down to slow the spread of COVID-19. Sales volume in May was up by more than $36 million from last year. And MLS reports show the median condo sales price in May was 19.5% higher than the median price in 2020.
“It’s typical for condo sales to fall slightly each year between April and May as our snow birds head north for the summer,” said Ron Wysocarski, broker and CEO of Wyse Home Team Realty in Port Orange. “However, this year’s 19% drop in condo sales was deeper than anticipated with the extremely low inventory levels likely playing a role.”
The inventory of available condos took another deep dive, resulting in just 458 condo units made active at some point during the month of May. That’s down nearly 11% from 513 units active in April and it’s 58% lower than the 1,102 available condo units in the Daytona Beach MLS during May 2020.
Year to date, condo sales are up 89% and the median condo sales price rose nearly 27% over the first five months of 2020.
Daytona Beach MLS data for condo and condotel Sales combined:
“As residential condo prices continue to climb in our area, we are seeing more vacationers considering purchases in our the resort-style condotel buildings,” Wysocarski said.
May 2021 Daytona Beach MLS data for Condos and Condotels separated:
May 2021 highlights of luxury condo sales in the Daytona Beach area include:
An analysis of Daytona Beach Multiple Listing Service data by Wyse Home Team Realty showed that 484 existing single-family homes (detached) were sold in the Daytona Beach area with median home sales price of $320,000. That’s a 37% increase in total home sales over May 2020 when only the state’s most essential services were operating. The sales were down by more than 8% compared to home sales in April. Total sales volume was up by 98% compared to May 2020 and 2% lower than home sales volume in April.
The median home sales rose notably in monthly and annual comparisons. According to MLS reports, the median home sales price in the Daytona Beach area was $320,000 in May. That’s 8% higher than in April and 32% higher than the median home sales price in May 2020.
“The small dip in home sales is a normal seasonal trend we see when snowbirds head north for the summer,” Wysocarski said. “Overall, the market conditions are strong and it continues to be a seller’s market.”
The inventory levels of available homes listed for sale in the Daytona Beach area fell slightly in May with the MLS reporting that there were a handful fewer homes on the market than were available in April. There were 46% fewer homes available this year than were available in May last year.
Wyse Home Team Realty also analyzed data for key areas where home buyers shop. The reports show more home buyers closed deals during May in Ormond Beach, where both sales and the median sale price rose. New Smyrna Beach was home to the highest the median sales price at $452,500.
