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Daytona Area Home Sales Strong In October As Inventory Spiked

Posted by Ron Wysocarski on Tuesday, November 20th, 2018 at 10:27am.

The inventory of available single family homes for sale in the greater Daytona Beach area spiked in October to its highest level in months.

The conditions created smiles all around as happy homebuyers enjoyed shopping a market with more selection. And many sellers with low and mid-range priced homes reaped strong sales prices thanks to the lingering pent-up demand for their properties.

 For the month ending on October 31, 2018, the Daytona Beach Multiple Listing Service (MLS) reported that 409 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $236,900. It amounts to a 4 percent increase in sales compared to the same month last year, and a 10 percent rise in median sales prices. Compared to September, sales were up by nearly 5 percent while median prices rose slightly. Year to date, sales are up by 4 percent and median sales prices remain 7 percent higher than the first 10 months of 2017. 

Comparisons to previous months and 2017 SFR sales figures are below:

  • October 2018: 409 sales, $236,900 median sales price.
  • October 2017: 393 sales, $215,000 median sales price.
  • September 2018: 390 sales, $232,500 median sales price.
  • September 2017: 353 sales, $224,500 median sales price.
  • YTD 2018: 4349 sales, $229,000 median sales price.
  • YTD 2017: 4167 sales, $214,000 median sales price.

“As expected, home sales and prices remained strong across the Daytona Beach area in October,” said Daytona Beach Area Realtor Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange, FL. “However, shifting market conditions in our area and across the nation indicate changes are on the horizon.”   

Like markets elsewhere in the nation, inventory levels rose across the Daytona Beach area in October to levels well above the number of listings added to the MLS in October 2017. In fact, inventory levels were up by more than 15 percent compared to last year. Overall, 8 percent more homes have hit the market during the first 10 months of 2018 than were listed during the same period last year.

“The inventory levels have been the story through most of 2018,” Wysocarski said. “As the number of available homes continues to shift higher in the months ahead, we will begin to see home sellers lose some of the advantages they’ve enjoyed in the area’s real estate transactions for the last two years.”   

The detailed statistics are as follows:

  • October 2018: 2463 single family home listings were active at some point during the month.
  • October 2017: 2128 single family home listings were active at some point during the month.
  • 2018 YTD: 8068 home listings were active at some point during the first 10 months of this year.
  • 2017 YTD: 7471 home listings were active at some point during the first 10 months of last year.

 

 

About The Wyse Report and Wyse Home Team Realty:

The Wyse Report is a periodic report analyzing real estate sales, prices and trends in the greater Volusia and Flagler County areas. Statistical information in this release is based on information accessed from the Daytona Beach Area Association of REALTORS® Multiple Listing Service on 10/19/18  for the following periods: 10/1/17 to 10/31/17, 10/1/18 to 10/31/18, 9/1/17 to 9/30/17, 9/1/18 to 9/30/18, 1/1/17 to 10/31/17, 1/1/18 to 10/31/18.  Learn more about Wyse Home Team Realty by visiting www.RonSellsTheBeach.com. Specific data research requests, including custom comparisons (date vs. date, city vs. city), are available to the media, upon request. If you have questions or requests, please contact Wyse Home Team Realty’s Broker and CEO, Ron Wysocarski at 386-562-2651.  

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