Condo Sales Soared In July

Despite ongoing uncertainties surrounding the pandemic, condo sales were particularly strong across the Daytona Beach area in July.

An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed that the overall condo sales volume in June was a startling 83 percent higher than last year’s sales volume and 40 percent higher than the condo sales volume in June. In all, 187 condo units were sold around the Daytona Beach area in June with a median sales price of $245,000. That’s a 57 percent increase in the area’s condo sales, compared to July 2019 and a 10 percent increase over condo sales in June. 

The median condo sales price in June was also up substantially, according to MLS reports. At $245,000, the median condo sales price was 23 percent higher than the same month last year and almost 9 percent higher than in June. Meanwhile, the inventory remained limited. MLS reports indicate the number of available condo units in July was down 16 percent from July 2019. 

MLS reports also show strong condo sales in July helped to narrow the gap caused by COVID closures in year-to-date totals. By month’s end, sales for the first seven months of 2020 were down by only a handful of sales compared to the same period of 2019. The median sales price was up 10 percent in year-over-year comparisons. 

“High demand and low inventory levels about 16 percent below last year created a boon for local condo sellers and helped to drive up sales prices,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange.

Daytona Beach MLS data for Condo and Condotel Sales combined: 

• July 2020: 187 condo/condotels sold with a median sales price of $245,000.
• July 2019: 119 condo/condotels sold with a median sales price of $199,000.
• June 2020: 169 condo/condotels sold with a median sales price of $225,000.
• June 2019: 160 condo/condotels sold with a median sales price of $175,100.
• May 2020: 79 condo/condotels sold with a median sales price of $200,000.
• Total Volume Sold in July 2020: $56,925,568.
• Total Volume Sold in July 2019: $30,981,450.
• Total Volume Sold in June 2020: $40,632,403.
• Year To Date 2020: 886 condo/condotels sold with a median sales price of $220,000.
• Year To Date 2019: 897 condo/condotels sold with a median sales price of $199,500. 

“Demand for Daytona Beach vacation condos remained strong in July, with condotel sales running about 70 percent higher than in July of last year,” Wysocarski said. 

July Daytona Beach MLS data for Condos and Condotels separated: 

• 170 condos sold with a median price of $267,000. 
• 17 condotels sold with a median price of $88,200. 

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

• A $2,100,000 condo sale at Fountains Condos, New Smyrna Beach,  on 7/16.
• $1,550,000 and $703,000 condo sales at Minorca Condos, New Smyrna Beach on 7/6 and 7/9.
• A $701,000 condo sale at Diamond Head Condos, New Smyrna Beach on 7/9.

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 8/6/2020 for the following periods: 7/1/20 to 7/31/20, 7/1/19 to 7/31/19, 5/1/20 to 5/31/20, 6/1/19 to 6/30/19, 6/1/20 to 6/30/20, 1/1/20 to 7/31/20, 1/1/19 to 7/31/19.