Daytona Beach Area Condo Sales In October 2022
The median condo sales price spiked in October as luxury condo sales swelled across the Daytona Beach area.
An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed that 101 condo units were sold around the Daytona Beach area in October with a median sales price of $420,000. That median sales price is 48 percent higher than in September and 44 percent above prices in October 2021. Sales, meanwhile, were down 30 percent in monthly comparisons and nearly 37 percent in yearly comparisons. Sales volume in October was down by more than $6.5 million from last year, according to MLS reports.
"I believe volatility in the financial, stock and crypto markets, are driving some buyers to invest in hard assets, like real estate, where they can find personal enjoyment and rental income opportunities,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange. “Our low taxes and the politics of our governor are also driving relocations and encouraging a growing population of people moving into retirement to find their next home in Florida.”
The inventory of available condos across the Daytona Beach MLS was 17 percent higher in October than the previous year with 603 condo units made active at some point during the month. Overall though, inventory was slightly lower than the 616 units active in September, MLS reports show.
Year to date, condo sales are down 19% percent and the median condo sales price rose 17% percent over the first 10 months of 2021.
Daytona Beach MLS data for Condo and Condotel Sales combined:
- October 2022: 101 condo/condotels sold with a median sales price of $420,000.
- October 2021: 160 condo/condotels sold with a median sales price of $292,000.
- September 2022: 146 condo/condotels sold with a median sales price of $283,000.
- September 2021: 180 condo/condotels sold with a median sales price of $275,000.
- Total Volume Sold in October 2022: $44,678,269.
- Total Volume Sold in October 2021: $51,233,451.
- Year To Date 2022: 1556 condo/condotels sold with a median sales price of $303,500.
- Year To Date 2021: 1929 condo/condotels sold with a median sales price of $259,900.
“Not surprisingly, vacation condo sales were down again in October, following Hurricane Ian,” Wysocarski said.
October 2022 Daytona Beach MLS data for Condos and Condotels separated:
- 92 condos sold with a median price of $443,500.
- 9 condotels sold with a median price of $205,000.
October 2022 highlights of luxury condo sales in the Daytona Beach area include:
- A $1,950,500 condo sale at the Minorca Condominiums, New Smyrna Beach on 10/28.
- A $1,800,000 condo sale at The Tradewinds, New Smyrna Beach on 10/31.
- A $905,000 condo sale at The Island Crowne, Daytona Beach on 10/27.
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 11/8/2022 for the following periods: 10/1/2022 to 10/31/2022, 10/1/21 to 10/31/21, 9/1/22 to 9/30/22, 9/1/21 to 9/30/21, 1/1/21 to 10/31/21, 1/1/22 to 10/30/22.