Daytona area condo sales for the third consecutive month in August.
An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed another notable drop in condo sales during the month of August, compared to condo sales a year ago. There were 138 condo units sold around the Daytona Beach area in August. That’s almost a 19 percent decline in sales, year over year. Sales volume was down by 14 percent in annual comparisons.
The median condo sales price in August also was down in annual comparisons. The median price of condo sales in the Daytona area during August was $225,500, MLS reports show. That’s a 14 percent decline in the median price, compared to August 2018. There was one piece of good news in the MLS reports, though. The median price of Daytona area condos sold in August was 13 percent higher than in July.
Year-to-date, sales are down by 4 percent while the median condo sales price is up nominally, compared to the first eight months of 2018.
“Three months of lackluster condo sales during what is typically a busy time in real estate confirms for me that we are seeing the condo market plateau,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange. “We will be watching the conditions closely for signs of further weakening in the market.”
Daytona Beach MLS data for Condo and Condotel Sales combined:
- August 2019: 138 condo/condotels sold with a median sales price of $225,500.
- August 2018: 170 condo/condotels sold with a median sales price of $236,000.
- July 2019: 116 condo/condotels sold with a median sales price of $199,250.
- July 2018: 140 condo/condotels sold with a median sales price of $183,000.
- Year To Date 2019: 1029 condo/condotels sold with a median sales price of $204,500.
- Year To Date 2018: 1072 condo/condotels sold with a median sales price of $201,250.
- Total Volume Sold in August 2019: $37,143,753.
- Total Volume Sold in August 2018: $43,250,150.
August Daytona Beach MLS data for Condos and Condotels separated:
- 129 condos sold with a median price of $237,500.
- 9 condotels sold with a median price of $90,000.
“Vacation condo sales remained level in August, with the sales total mirroring the number of condotel units sold in July,” said Wysocarski.
The August 2019 highlights of luxury condo sales in the Daytona Beach area include:
- A $750,000 condo sale at Towers 8 Condos, Ponce Inlet on 8/30.
- A $694,100 condo sale at Ocean Vistas Condos, Daytona Beach Shores on 8/21.
- A $675,000 condo sale at St. Kitts Condos, Daytona Beach Shores on 8/12.
- A $667,000 condo sale at Tuscany Condos, Palm Coast on 8/12.
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 9/6/19 for the following periods: 7/1/19 to 7/31/19, 7/1/18 to 7/31/18, 8/1/18 to 8/31/18, 8/1/19 to 8/31/19, 1/1/19 to 8/31/19, 1/1/18 to 8/31/18.