Daytona Condo Market Stutters as 2019 Begins
As temperatures plummeted across the Daytona Beach area in January, so did condo sales and prices.
An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed there were just 79 condo units sold around the Daytona Beach area in January. It’s a painful 21 percent decline in sales transactions, compared to January 2018. The overall volume of condo sales was down nearly 14 percent in year over year comparisons.
Median sales prices also fell hard in January. MLS reports show the median condo sales price around the Daytona Beach area in January was $176,000, down 17 percent from the same month last year.
In monthly comparisons, the freefall in sales and median prices also was steep. Sales fell nearly 32 percent and prices were down by almost 23 percent over the numbers in December.
“Condotel sales stayed fairly flat in January and the median price for those sales was actually up compared to last year,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange. “The real pain point was the drop in residential condo sales. The sales were down substantially, and the median price of the units sold was low.”
Daytona Beach MLS data for Condo and Condotel Sales combined:
- January 2019: 79 condo/condotels sold with a median sales price of $176,000.
- January 2018: 100 condo/condotels sold with a median sales price of $212,500.
- December 2018: 116 condo/condotels sold with a median sales price of $228,450.
- December 2017: 123 condo/condotels sold with a median sales price of $222,000.
- Total Volume Sold In January 2019: $18,435,600
- Total Volume Sold in January 2018: $21,361,047
January Daytona Beach MLS data for Condos and Condotels separated:
- 67 condos sold with a median price of $215,000
- 12 condotels sold with a median price of $81,000.
The January 2019 highlights of luxury condo sales in the Daytona Beach area include:
- A $645,000 condo sale at Tuscany Shores Condos, Daytona Beach Shores on 1/11.
- A $625,000 condo sale at Tuscany Shores Condos, Daytona Beach Shores on 1/7.
- A $570,000 condo sale at Marbella Condos, Daytona Beach Shores on 1/16.
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 2/1219 for the following periods: 1/1/19 to 1/31/19, 1/1/18 to 1/31/18, 12/1/18 to 12/31/18, 12/1/17 to 12/31/17.