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Marginal Changes in The Daytona Beach Condo Market in May

Posted by Ron Wysocarski on Wednesday, June 8th, 2016 at 1:00pm.

(Daytona Beach, FL) – An analysis by The Wyse Home Team at Keller-Williams Realty in Port Orange, FL, showed condo sales around the greater Daytona Beach area rose marginally year over year as prices dipped marginally. According to the Daytona Beach Multiple Listing Service (MLS), there were 121 condo sales in May, which is three more sales than occurred in both April of this year and May of last year.  Median sales prices, meanwhile, dropped by a marginal $2,500 from last May and fell by $11,500 from April of this year.   

“Inventory levels continue to be something we’re watching,” said Ron Wysocarski, CEO of The Wyse Home Team at Keller Williams Realty in Port Orange. “While the overall market inventory remains very low, we’ve seen more condos come onto the market to help the gap between the high demand and low inventory. MLS data shows that in May, the number of active condo listings was only 2 percent less than the number of active condo listings in May 2015.” 

May Daytona Beach MLS data for Condo and Condotel Sales combined: 

  •          May 2016: 121 condo/condotels sold with a median sales price of $182,000.
  •          May 2015: 118 condo/condotels sold with a median sales price of $184,500.
  •          April 2016: 118 condo/condotels sold with a median sales price of $193,500.
  •          April 2015: 125 condo/condotels sold with a median sales price of $130,000.
  •          YTD 2016: 548 condo/condotels sold with a median sales price of $165,000.
  •          YTD 2015: 547 condo/condotels sold with a median sale price of $160,000.

 May Daytona Beach MLS data for Condos and Condotels separated: 

  •          May 2016: 112 condos sold with a median price of $195,000.
  •          May 2016: 9 condotels sold with a median price of $71,300. 

“Luxury condo sales stayed steady year-over-year, but executive condo sales in the $300,000 to $500,000 price range were down by about 28 percent in May,” Wysocarski said. “It’s definitely something we will be watching.”   

The May 2016 highlights of luxury condo sales in the Daytona Beach area include: 

  •          A $825,000 condo sale in The Inlet Condos, New Smyrna Beach on 5/18.
  •          A 710,000 condo sale at St. Kitts Condos, Daytona Beach Shores on 5/18.
  •          A $688,000 condo sale at Minorca Condos, New Smyrna Beach on 5/9.
  •          A $650,000 condo sale at Hawks Nest, Port Orange on 5/6.
  •          A $605,000 condo sale at Towers Seven, Ponce Inlet on 5/24. 

Ron Wysocarski leads The Wyse Home Team at Keller-Williams Realty in Port Orange, FL. For more information regarding Ron Wysocarski or The Wyse Home Team, contact him at 386-562-2651. More detailed information regarding Daytona Beach area condos and their building-specific data is available to the media, upon request.  

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