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Daytona Area Condo Sales Rebounded As Prices Fell

Posted by Ron Wysocarski on Friday, May 10th, 2019 at 11:24am.

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 median sales prices in April 2018. Meanwhile, monthly comparisons showed April condo sales were stronger than in March as median prices fell dramatically.

“We’ve enjoyed several years of constant growth,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange. “These little swings in sales and prices are telling us that the market is neutralizing.”

Daytona Beach MLS data for Condo and Condotel Sales combined:

  • April 2019: 155 condo/condotels sold with a median sales price of $195,000.
  • April 2018: 146 condo/condotels sold with a median sales price of $207,500.
  • March 2019: 109 condo/condotels sold with a median sales price of $239,900.
  • March 2018: 133 condo/condotels sold with a median sales price of $215,000
  • Year To Date 2019: 459 condo/condotels sold with a median sales price of $200,000.
  • Year To Date 2018: 475 condo/condotels sold with a median sales price of $197,500.
  • Total Volume Sold in April 2019: $35,047,832
  • Total Volume Sold in March 2018: $34,849,095

“Condotel sales around the Daytona Beach area rebounded a bit in April after being a bit low the past couple months,” Wysocarski said. “But overall, condo sales are down in year-to-date comparisons."

April Daytona Beach MLS data for Condos and Condotels separated:

  • 136 condos sold with a median price of $217,250. 
  • 19 condotels sold with a median price of $71,000.

The April 2019 highlights of luxury condo sales in the Daytona Beach area include:

 

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 5/7/19 for the following periods: 3/1/19 to 3/31/19, 3/1/18 to 3/31/18, 4/1/18 to 4/30/18, 4/1/19 to 4/30/19, 1/1/19 to 4/30/19, 4/1/18 to 4/30/18

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