Condo Sales Fell Further In May

Condo sales across the Daytona Beach area continued to fall in May, despite state efforts to re-open local businesses and the economy.

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 May with a median sales price of $200,000. That’s 48 percent below the area’s condo sales in May 2019 and 9 percent lower condo sales in April, when Florida’s “Safer At Home” order was in effect. Overall sales volume in May was nearly half last year’s sales volume. Sales volume was up slightly from April, however.

The median condo sales price in May rose to $200,000. That’s 2.5 percent below the median sales price during the same month last year, but it’s 19 percent higher than the median price was in April. Year to date, condo sales are down nearly 15 percent from the first 5 months of 2019 and the median sales price remains level.

“Condo sales may be a little slow to bounce back from the market interruptions that Coronavirus has caused,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange.  

Daytona Beach MLS data for Condo and Condotel Sales combined:

• May 2020: 79 condo/condotels sold with a median sales price of $200,000.
• May 2019: 153 condo/condotels sold with a median sales price of $205,000.
• April 2020: 87 condo/condotels sold with a median sales price of $168,000.
• April 2019: 159 condo/condotels sold with a median sales price of $198,000.
• March 2020: 113 condo/condotels sold with a median sales price of $245,000.
• Total Volume Sold in May 2020: $20,246,672
• Total Volume Sold in May 2019: $38,362,642
• Total Volume Sold in April 2020: $18,424,420.
• Year To Date 2020: 527 condo/condotels sold with a median sales price of $205,000.
• Year To Date 2019: 618 condo/condotels sold with a median sales price of $204,900.

 “We’re still in the early days of economic recovery after the shutdowns,” Wysocarski said. “It’s not yet clear what the long-term effects to Daytona’s condo market might be.”

 May Daytona Beach MLS data for Condos and Condotels separated:

• 59 condos sold with a median price of $276,000. 
• 11 condotels sold with a median price of $65,000.

 The May 2020 highlights of luxury condo sales in the Daytona Beach area include:

• $1,389,000 condo sale at TydeMark Condos, New Smyrna Beach,  on 5/26.
• A $634,000 condo sale at Minorca Condos, New Smyrna Beach on 5/08.
• A $557,000 condo sale at Tuscany Shores Condos, Daytona Beach Shores on 5/29.

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 RonSellsBeachCondos.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 6/8/2020 for the following periods: 3/1/20 to 3/31/20, 5/1/19 to 5/31/19, 5/1/20 to 5/31/20, 4/1/19 to 4/30/19, 4/1/20 to 4/30/20, 1/1/20 to 5/31/20, 1/1/19 to 5/31/19.