Home sales were down dramatically across the Daytona Beach area in February.
For the month ending on February 28, 2019, the Daytona Beach Multiple Listing Service (MLS) reported that 286 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $235,500. It’s a nearly 19 percent drop in sales compared to the same month last year. Meanwhile, year-over-year comparisons showed median sales prices rose by 3 percent.
Compared to January, sales were up by 4 percent and prices were down by a nominal 1 percent. And year to date, single family home sales are down by more than 12.5 percent across the Daytona area, while prices are up by 5.7 percent.
Comparisons to previous months and 2018 SFR sales figures are below:
- February 2019: 286 sales, $235,500 median sales price.
- February 2018: 353 sales, $228,500 median sales price.
- January 2019: 275 sales, $238,000 median sales price.
- January 2018: 294 sales, $215,000 median sales price.
- Year-To-Date 2019: 565 sales, $237,000 median sales price.
- Year-To-Date 2018: 647 sales, $224,099 median sales price.
“Home sales continue to be slower than we’d like as we move through the first quarter of the year,” said Daytona Beach Area Realtor Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange, FL.
Inventory levels remained strong in February, with 2496 single family homes listed in the MLS at some point during the month. Year to date, inventory levels are up by nearly 9 percent, according to MLS data.
The detailed statistics are as follows:
- February 2019 Inventory: 2496 single family home listings were active at some point during the month.
- Year-To-Date 2019 Inventory: 3108 single family home listings were active at some point during the period.
- Year-To-Date 2018 Inventory: 2853 single family home listings were active at some point during the period.
Wyse Home Team Realty also analyzed data for key areas where homebuyers shop. Ormond Beach showed the strongest sales totals in February. However, sales and median prices in the city were down slightly from last February, when 85 homes were sold with a median sales price of $250,000.
February 2019 single family home sales data by area:
- Ormond Beach: 77 sales, $245,000 median sales price
- Mainland Daytona (Including Holly Hill and South Daytona): 30 sales, $172,500 median sales price
- Beachside (Ormond By The Sea to Ponce Inlet): 43 sales, $279,000 median sales price.
- Port Orange: 45 sales, $265,000 median sales price
- New Smyrna Beach: 40 sales with a $288,748 median sales price.
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 Daytona Beach area. Statistical information provided is based on information accessed from the Daytona Beach Area Association of REALTORS® Multiple Listing Service on 3/21/19 for the following periods: 1/1/18 to 1/31/18, 1/1/19 to 1/31/19, 2/1/18 to2/28/18, 2/1/19 to 2/28/19, 1/1/18 to 2/28/18, 1/1/19 to 2/28/19. New Smyrna Beach sales figures are based on information accessed from the New Smyrna Beach Multiple Listing Service on 3/21/19 for the period of 2/1/19 to 2/28/19. Learn more about Wyse Home Team Realty by visiting www.RonSellsTheBeach.com. Specific data research requests and custom comparisons 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.