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Ron's Blog

Daytona area condo prices fell hard in June.

An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed a substantial median price drop, compared to condo sales in May. There were 146 condo units sold around the Daytona Beach area in June with a $175,100 median sales price. That median price is more than 15 percent lower than the $207,000 median price in May. It’s 5.8 percent lower than the median price in June 2018.

Sales totals and sales volume were also down in both monthly and annual comparisons, MLS data shows. In fact, sales volume was down by more than $5 million, compared to May. And in annual comparisons, volume was down by $1.8 million.

Year-to-date, sales and median prices for the first half of

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Real estate market conditions are on the move this year, as many experts predicted it would be. Although an overall softening of the real estate market was expected to be the national average this year, unexpected drops in mortgage interest rates have instead served as a "shot-in-the-arm" for home sales, said Frank  Nothaft, chief economist for CoreLogic, one of the nation's foremost real estate and finance market analytics companies. 

And the extra activity in the real estate market has been pushing prices higher. 

CoreLogic's latest report shows that as of the end of May, home prices across the U.S. were up by 3.6 percent in year over year comparisons. The report predicts we will see another 0.8 percent rise by the end of June. And overall, there

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The spring and summer home selling season kicked into high gear in May, pushing both sales and median prices higher across the greater Daytona Beach area.

For the month ending on May 31, 2019, the Daytona Beach Multiple Listing Service (MLS) reported that 543 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $245,000. That’s a 3 percent increase in sales compared to the same month last year, and a 12 percent jump over sales totals in April. The median sales price for homes sold across Daytona was 6.5 percent higher in both monthly and annual comparisons.  

Year to date, single family home sales are down by 2.5 percent across the Daytona area, while prices are up by just over 3

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Daytona area condo sales were up notably in May.

An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed there were 148 condo units sold around the Daytona Beach area in May. It’s a 13.8 percent increase in sales, compared to sales totals in May of 2018. Median sales prices, however, fell slightly by 2 percent.

Monthly comparisons showed May condo sales were slightly weaker than in April, while median prices were a bit stronger.

While there were healthy gains in sales totals, MLS reports show sales volume was up by even stronger margins. Sales volume in May 2019 was nearly 20 percent higher than during the same month last year. Year-to-date, sales totals finally caught up with 2018 figures, bringing both

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June is rapidly approaching, and Summer is right around the corner! The school year is coming to a close and many people are planning their summer vacations.  Don’t forget to look in your own backyard for events that are sure to entertain the entire family! Here are a few of the fun, local events taking place in Daytona Beach and the surrounding areas in the month of June.

 

Daytona Beach Bandshell Concerts and Fireworks

June 1, 7, 8, 14, 15, 21, 22, 28 & 29

Visit the “World’s Most Famous Bandshell” in Daytona Beach, Friday and Saturday nights this summer for their Summer Concert Series.  The concerts are 7:15 – 9:30 p.m. with fireworks following at 9:45 p.m. and are free to attend.  However, if you’d like a VIP seat, it will cost $10.  There

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After a slow first quarter of the year, single family home sales around Daytona Beach picked up slightly in April.

For the month ending on April 30, 2019, the Daytona Beach Multiple Listing Service (MLS) reported that 483 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $230,000. It’s a 4 percent rise in sales compared to the same month last year and just shy of a 1 percent increase in median sales prices.

Compared to March, sales were up by 11 percent and median prices remained stable.  Year to date, single family home sales are down by more than 4 percent across the Daytona area, while prices are up by just over 2 percent.

  • April 2019: 483 sales, $230,000 median sales
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Daytona area condo sales improved in April, but median sales prices fell for the first time in months.

An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed there were 155 condo units sold around the Daytona Beach area in April. It’s a 6 percent increase in sales, compared to sales totals in April of 2018. Unfortunately, year-to-date sales remained down 3 percent compared to the number of condo sales during the first four months of last year.

While there were healthy gains in sales totals, MLS reports show sales volume was up only marginally, 0.5 percent. That’s thanks to a 6 percent median price drop in area’s condo market during April.  The median condo sales price in April was $195,000, down $12,500 from

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You've accepted an offer on your home. It's a time to celebrate. But is your home sale a done deal?

Not quite. Your buyers could still pull out of the contract with few, if any, ramifications. 

According to an article published by the Florida Association of Realtors, their legal hotline fields plenty of calls from confused and outraged sellers whose buyers walked out on their deal without good reason. And most of those sellers quickly learn that the buyers had the right to cancel the sales contract. 

In paragraph 12 of the typical AS IS sales contract used in most Florida home sales transactions, it says “buyer shall have X (if left blank, then 15) days after Effective Date ‘Inspection Period’ within which to have such inspections of the Property

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Home sales were down for the third consecutive month across the Daytona Beach area in March.

For the month ending on March 31, 2019, the Daytona Beach Multiple Listing Service (MLS) reported that 435 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $230,500. It’s a 7 percent drop in sales compared to the same month last year and a nearly 2 percent decline in median prices 

Compared to February, sales were up by 52 percent and prices were down by 2 percent.  And year to date, single family home sales are down by more than 9 percent across the Daytona area, while prices are up by 3 percent.

Comparisons to previous months and 2018 Single Family Home Sales figures are below:

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May is a wonderful time of the year to be in the Daytona Beach area.  The temperatures are creeping up, but the rainy season hasn’t yet begun.  It’s a great time for outdoor events! Schools are wrapping up and there are plenty of fun activities for the kids.  Look at some of these options for great entertainment and festivals that our spectacular area has to offer!

 

Fiesta de Mayo People’s Choice Margarita Challenge

May 4

Visit ONE Daytona, across from the Daytona International Speedway, on Saturday, May 4th, 4:00 – 7:00 p.m.  There will be Live DJ Entertainment, the Cruisin’ ONE DAYTONA Car Show and the People’s Choice Margarita Challenge.  The Car Show and entertainment are FREE.  To cast your vote for your favorite margarita, purchase

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