Daytona Beach Area Condo Sales For November 2022
The median condo sales price sunk in November as luxury condo sales dwindled dramatically across the Daytona Beach area.
An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed that 68 condo units were sold around the Daytona Beach area in November with a median sales price of $220,000. That median sales price is nearly 46 percent lower than in October and 29 percent lower than prices in November 2021. Sales, meanwhile, were down 34 percent in monthly comparisons and nearly 63 percent in yearly comparisons. Sales volume in November was down by more than $39 million from last year, according to MLS reports.
"The market is definitely responding to the Fed’s efforts to slow inflation, and a hurricane thrown into the mix made matters worse in November,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange. “Worse, the damage done to Daytona’s coastal homes and condos by Hurricane Nicole could slow condo sales even further in the weeks and months ahead.”
Rebounding inventory levels also are playing a role in Daytona Beach condo market conditions, Wysocarski said. The inventory of available condos across the Daytona Beach MLS was 16 percent higher in November than the previous year with 581 condo units made active at some point during the month. Overall, inventory was slightly lower than the 606 units active in October, MLS reports show.
Year to date, condo sales are down nearly 23 percent and the median condo sales price rose 15 percent over the first 11 months of 2021.
Daytona Beach MLS data for Condo and Condotel Sales combined:
- November 2022: 68 condo/condotels sold with a median sales price of $220,000.
- November 2021: 182 condo/condotels sold with a median sales price of $310,450.
- October 2022: 103 condo/condotels sold with a median sales price of $405,900.
- October 2021: 160 condo/condotels sold with a median sales price of $292,000.
- Total Volume Sold in November 2022: $19,694,400.
- Total Volume Sold in November 2021: $59,580,328.
- Year To Date 2022: 1626 condo/condotels sold with a median sales price of $300,000.
- Year To Date 2021: 2111 condo/condotels sold with a median sales price of $260,000.
“In spite of the challenges and two consecutive months of hurricane damages to our coastline, vacation condo sales rose in November as the median sales price for condotels fell,” Wysocarski said.
November 2022 Daytona Beach MLS data for Condos and Condotels separated:
- 55 condos sold with a median price of $250,000.
- 13 condotels sold with a median price of $165,000.
November 2022 highlights of luxury condo sales in the Daytona Beach area include:
- A $975,000 condo sale at the Mediterranean Condominiums, Daytona Beach on 11/29.
- A $750,000 condo sale at the Ocean Hammock Condominiums, Palm Coast on 11/4.
- A $700,000 condo sale at the Moontide Condominiums, New Smyrna Beach on 11/21.
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 12/8/2022 for the following periods: 11/1/2022 to 11/30/2022, 11/1/21 to 11/30/21, 10/1/22 to 10/31/22, 10/1/21 to 10/31/21, 1/1/21 to 11/30/21, 1/1/22 to 11/30/22.
Wyse Home Team Realty
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