Daytona area condo sales slumped for the second consecutive month in July.
An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed a notable drop in July condo sales, compared to condo sales in June. There were 113 condo units sold around the Daytona Beach area in July. That’s a 19 percent decline in sales, year over year. And it’s a 22 percent drop compared to June. Sales volume was down by 8 percent in monthly comparisons, and down by 4.8 percent in annual comparisons.
Meanwhile, the median condo sales price in July served as a solid recovery from a painful dip in June. The median price of condo sales in the Daytona area during July was $205,900, MLS reports show. That’s more than 17 percent higher than the $175,100 median price in June. And it’s 12.5 percent higher than the median price in July 2018. The median price is just below the $207,000 median sales price reported in May.
Year-to-date, sales are down slightly while median condo sales price is up nominally, compared to the first 7 months of 2018.
“It’s good to see the median sales price back on track,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange. “Another month of lackluster condo sales is a concern, though.”
Daytona Beach MLS data for Condo and Condotel Sales combined:
- July 2019: 113 condo/condotels sold with a median sales price of $205,900.
- July 2018: 140 condo/condotels sold with a median sales price of $183,000.
- June 2019: 146 condo/condotels sold with a median sales price of $175,100.
- June 2018: 157 condo/condotels sold with a median sales price of $186,000.
- Year To Date 2019: 881 condo/condotels sold with a median sales price of $200,000.
- Year To Date 2018: 902 condo/condotels sold with a median sales price of $196,000.
- Total Volume Sold in July 2019: $29,898,450.
- Total Volume Sold in July 2018: $31,416,205.
July Daytona Beach MLS data for Condos and Condotels separated:
- 104 condos sold with a median price of $238,500.
- 9 condotels sold with a median price of $72,000.
“Vacation condo sales were down dramatically in July,” said Wysocarski. “Condotel sales dropped 57 percent from the number sold in July 2018. And they were down 35 percent from June totals.”
The July 2019 highlights of luxury condo sales in the Daytona Beach area include:
- A $1,150,000 condo sale at Minorca Condos, New Smyrna Beach on 7/15. ($50k OVER list price)
- A $875,000 condo sale at Ocean Villas Condos, Daytona Beach Shores on 7/31.
- A $742,500 condo sale at Palma Bella Condos, Daytona Beach Shores on 7/18.
- A $730,000 condo sale at Malibu Condos, New Smyrna Beach on 7/22.
Ron Wysocarski is the Broker and CEO of Wyse Home Team Realty in Port Orange, FL. For more information regarding Ron Wysocarski, contact him at 386-562-2651, or visit TheWyseCondoTeam.com. Additional information is available to the media upon request. Statistical information in this release is based on information accessed from the Daytona Beach Area Association of REALTORS® Multiple Listing Service on 8/5/19 for the following periods: 7/1/19 to 7/31/19, 7/1/18 to 7/31/18, 6/1/18 to 6/30/18, 6/1/19 to 6/30/19, 1/1/19 to 7/31/19, 1/1/18 to 7/31/18.