Daytona Beach Area Condo Sales for March 2023
The number of condos sold in March across the Daytona Beach area was down dramatically, as sales prices jumped.
An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed that 117 condo units were sold around the Daytona Beach area in March with a median sales price of $330,000. That’s a 6.4 percent increase over February sales, but it’s down 41 percent from March 2022. Sales volume in March fell more than $27.6 million from last year, according to MLS reports. Meanwhile, the median condo sales price was nearly 37 percent higher than it was in February and 7.5 percent higher than prices in March 2022.
"We started the second quarter with significantly slower sales than last year,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Daytona Beach. “But home values are holding strong for sellers while giving buyers a little breathing room from the bidding wars in years past. It’s a win for buyers that have been in the wings awhile. They can refinance when interest rates are more competitive, and the get the house they want today.”
Inventory levels across the Daytona Beach MLS area spiked in March, MLS reports show. The number of available units was up 72.4 percent year over year, with 857 condo units made active at some point during the month. Buyers in March also had 72 additional units on the market to consider, compared to the 785 units active in February.
Daytona Beach MLS data for Condo and Condotel Sales combined:
- March 2023: 117 condo/condotels sold with a median sales price of $330,000.
- March 2022: 197 condo/condotels sold with a median sales price of $307,000.
- February 2023: 110 condo/condotels sold with a median sales price of $241,250.
- February 2022: 160 condo/condotels sold with a median sales price of $265,000.
- Total Volume Sold in March 2023: $44,225,250.
- Total Volume Sold in March 2022: $71,917,398.
- Year To Date 2023: 291 condo/condotels sold with a median sales price of $280,000.
- Year To Date 2022: 397 condo/condotels sold with a median sales price of $305,000.
“Vacation condo sales tanked a bit in March,” Wysocarski said. “There were just 10 condotel sales reported by the Daytona Beach MLS, compared to 36 condotels sold last year.”
March 2023 Daytona Beach MLS data for Condos and Condotels separated:
- 107 condos sold with a median price of $355,000.
- 10 condotels sold with a median price of $176,000.
February 2023 highlights of luxury condo sales in the Daytona Beach area include:
- A $1,700,000 condo sale at the Mediterranean Condominiums, Daytona Beach Shores on 3/17.
- A $1,237,500 condo sale at the Ocean Vistas Condominiums, New Smyrna Beach on 3/7.
- A $999,000 condo sale at the Palms at Minorca Condominiums, Daytona Beach Shores on 3/30.
Ron Wysocarski is the Broker and CEO of Wyse Home Team Realty in Daytona Beach, 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 4/11/2023 for the following periods: 3/1/2023 to 3/31/2023, 3/1/22 to 3/31/22, 2/1/23 to 2/28/23, 2/1/22 to 2/28/22, 1/1/23 to 3/31/23, 1/1/22 to 3/31/22.
Wyse Home Team Realty
Post a Comment