Condo sales around the greater Daytona Beach soared by more than 35 percent in October, according to a recent report.
An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed there were 129 condo units sold around the Daytona Beach area in October. That’s up over 35%, compared to just 95 units sold in October 2017. Meanwhile, median sales prices rose by nearly 9 percent to $207,000 over October 2017. Median prices were down by roughly 11.5 percent compared September, though.
Year to date, median sales prices are up by just under 10 percent as total condo sales remained 4 percent above the number of units sold during the first 10 months of 2017.
“These are great numbers that could mean we’re seeing growth in our base of seasonal residents this year, ” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange. “Strong economic conditions help buyers feel more comfortable with the idea of buying a second home.”
Inventory issues further stabilized in October, with 1042 units made active on the MLS at some point during the month. That’s up from the 1031 units listed on the MLS in September, and it is an notable increase from the 932 condo units that were active on the MLS during October 2017.
“We anticipate the area will enjoy stable condo market conditions through the end of the year,” Wysocarski said.
Daytona Beach MLS data for Condo and Condotel Sales combined:
- October 2018: 129 condo/condotels sold with a median sales price of $207,000.
- October 2017: 95 condo/condotels sold with a median sales price of $190,000.
- September 2018: 127 condo/condotels sold with a median sales price of $234,000.
- September 2017: 120 condo/condotels sold with a median sales price of $202,500.
- YTD 2018: 1329 condo/condotels sold with a median sales price of $208,000.
- YTD 2017: 1273 condo condotels sold with a median sales price of $189,300.
October Daytona Beach MLS data for Condos and Condotels separated:
- 111 condos sold with a median price of $222,100.
- 18 condotels sold with a median price of $76,000.
The October 2018 highlights of luxury condo sales in the Daytona Beach area include:
- A $675,000 condo sale at Palma Bella Condos, Daytona Beach Shores on 10/31.
- A $628,000 condo sale at Palmas de Mallorca Condos, Daytona Beach Shores on 10/12.
- A $605,000 condo sale at Surf & Racquet Condos, New Smyrna Beach on 10/18.
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 11/6/18 for the following periods: 9/1/18 to 9/30/18, 9/1/17 to 9/30/17, 10/1/17 to 10/31/17 10/1/18 to 10/31/18, 1/1/18 to 10/31/18, 1/1/17 to 10/31/17.