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In The News

Stay updated on the central Florida area's top news in real estate. Find our press releases, news outlet interviews and other stories of interest on our local market here!

Found 61 blog entries about In The News.

(Daytona Beach, FL) –The Daytona Beach area real estate market experienced a solid uptick in single family home sales in February. The area also enjoyed strong year-over-year gains in median sales prices.

For the month ending on February 28, 2017, the Daytona Beach Multiple Listing Service (MLS) reported that 333 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $200,000. It amounts to double digit gains for both sales and prices with a 16.4 percent increase in sales and a 10 percent increase in prices, year over year. Month over month comparisons showed prices remained strong amid a nice boost in sales totals. 

Comparisons to previous months and 2016 SFR sales figures are below: 

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Median sales prices in the Daytona area condo market fell to $154,000 in February as the market experienced an onslaught of investor and vacation condo sales in the lower price ranges.   

An analysis of Daytona Beach Multiple Listing Service (MLS) data by The Wyse Home Team at Keller-Williams Realty showed there were 114 condo sales in January with a median sales price of $154,000. It’s a 48 percent increase from the sales totals seen the same month a year ago, and a 52 percent increase from January’s sales. Meanwhile, median sales prices fell by 9.7 percent as an onslaught of investors and tourists snapped up low cost condos priced under $150,000 for use as investment and vacation condos. According to MLS reports, condo sales for units priced under

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New rankings released by U.S. News and World Report rank Florida top in the nation for its higher education. The rankings consider a number of factors, from tuition affordability, to graduation rates, to student debt and overall educational attainment.

Extremely high graduation rates for 2-year degrees and the incredibly rates for college tuition and fees played a strong role in catapulting Florida to the top of the ranking list. Florida ranks 3rd in the nation for it's 2-year degree programs, in which more than half of the students attending were able to complete their degrees on time. The state also ranks 2nd in the country for low tuition and fees, the report showed.

Gov. Rick Scott and others heralded the new rankings, according to the

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It's been a long 6-year wait for eager condo buyers who live in and visit the Daytona Beach area, but construction crews have finally broken ground on the most expensive oceanfront condo project in the history of Daytona Beach.

According to a recent report by the Daytona Beach News-Journal, the $192 million Daytona Beach Convention Hotel & Condominiums project will not only be the most expensive project to rise along The World's Most Famous Beach, but it will also be one of the area's tallest.

The project will boast two towers rising more than 300 feet into the sky. The beautiful Peck Plaza in Daytona Beach Shores will maintain it's title of the area's tallest oceanfront complex at 342 feet, though.

The Daytona Beach Convention Hotel &

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Florida isn't the only place experiencing strong home sales, with national home sales moving the fastest pace we've seen in nearly a decade, according to the National Association of Realtors. In fact, it's been so good that the only one area of the country didn't see gains in January... the Midwest.

(Maybe that's because it's flipping cold up there right now and everyone is looking for homes in places like Florida, where the weather is warmer!) Okay, so the NAR didn't say in their January report that all the freezing Midwesterners spent the first month of 2017 flocking south... but we can hope, right?!

Regional Sales

Here's how home sales looked in each of the four regions of the United States:

  • Northeast: Sales rose 6.7 percent, year over
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(Daytona Beach, FL) –Single family home sales around the greater Daytona Beach area were down slightly in January, compared to the same month in 2016. Meanwhile, median sales prices were up compared to a year ago. 

For the month ending on January 31, 2017, the Daytona Beach Multiple Listing Service (MLS) reported that 297 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $200,000. It amounts to nearly a 5 percent decrease in sales and an 11 percent increase in prices, year over year. Month over month comparisons showed typical December-to-January trends with steady prices and reduced sales totals. 

Comparisons to previous months and 2016 SFR sales figures are below: 

  • January
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The affordability of America's homes is on shaky ground, some experts now say. 

According to a recent CNBC report, rising mortgage rates, a lazy pace in income growth and steep climbs in home prices caused by low inventory levels are ultimately stars aligning in a troubling way. 

Homes are becoming less affordable... quickly. 

Right now, the average mortgage and interest payment for a home eats up about 22 percent of the median income in America,  a report from Black Knight Financial Services found. It's the least affordable homes have been in seven years. But thankfully, it's still below the 36 percent median income it took to afford a home at the height of the housing boom in 2005-2006.

Still, buyers' payments for a median priced home

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(Daytona Beach, FL) – Median sales prices in the Daytona area condo market rose to a strong $188,000 as condo sales inched further downward in January. 

An analysis of Daytona Beach Multiple Listing Service (MLS) data by The Wyse Home Team at Keller-Williams Realty showed there were 75 condo sales in January with a median sales price of $188,000. It’s an 18 percent drop from the sales totals seen the same month a year ago, and a 15 percent reduction from December’s sales. Meanwhile, median sales prices continued the upward trajectory seen through much of 2016. Median prices in January rose dramatically by 22 percent, year over year. And they were up 6 percent compared to December.   

Inventory levels in January remained down by 6 percent,

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(Daytona Beach, FL) – Home flipping continued its frenzied pace throughout 2016 with the Volusia County area climbing to the second highest spot among the metro areas with the nation’s highest flip rates. 

According to an annual report released by Trulia last week, house flipping around the nation hit a 10-year high and was so prolific that 6.1 percent of all home sales in 2016 were flips. The last time numbers were this high was in 2006, during the height of the housing boom. In 2015, 5.3 percent of homes sold were flips, the report said. 

(For the study, Trulia defined a flip home as “the purchase of a house at market rate and selling it at a higher market rate price, because of improvement to the property and/or rising prices” and it excluded

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(Daytona Beach, FL) –In local real estate sales, 2016 ended strong. There were continued strong gains in median sales prices in year-over-year comparisons, giving local homeowners another reason to smile and celebrate as the New Year rolled into focus. Meanwhile, home sales were up compared to November, but down sharply year-over-year thanks to the ongoing inventory woes in the local market. 

For the month ending on December 31, 2016, the Daytona Beach Multiple Listing Service (MLS) reported that 356 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $200,000. That’s a 14 percent decrease in sales, year over year. Meanwhile, low inventory conditions kept prices soaring in December, as

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