Daytona Beach Area Condo Sales For July 2023

(Daytona Beach, FL) – The number of condos sold in the Daytona Beach area fell further during the month of July.  

An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed that 119 condo units were sold around the Daytona Beach area in July with a median sales price of $310,000. That’s 6.3 percent fewer sales than in June and down 7 percent from a year ago.  Sales volume in July fell by almost $5 million from last year, according to MLS reports. 

Meanwhile, the median condo sales price was up in both annual and monthly comparisons, with prices rising almost 22.1 percent from July 2022 and up marginally from the previous month. 

"The Daytona Beach condo market is facing some tough challenges right now,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Daytona Beach. "We’re finding that condo associations around the area are struggling to acquire and maintain insurance policies to protect their buildings. Without proper coverage, most lenders are unable to write and close home loans for units in those buildings. Add to that all the condo buildings that are still dealing with major repairs from the most recent storms. It’s a painful blow to the local condo market.”

Condo inventory levels across the Daytona Beach MLS area fell slightly in July, MLS reports show. But the number of available units remained up almost 50.9 percent year over year, with 952 condo units made active at some point during the month. All told, MLS reports show buyers in July had 4 less units on the market to consider, compared to the 957 units active in June. 

Daytona Beach MLS data for Condo and Condotel Sales combined: 

• July 2023: 119 condo/condotels sold with a median sales price of $310,000.
• July 2022: 128 condo/condotels sold with a median sales price of $254,000.
• June 2023: 127 condo/condotels sold with a median sales price of $309,000.
• June 2022: 154 condo/condotels sold with a median sales price of $315,000.
• Total Volume Sold in July 2023: $40,077,720.
• Total Volume Sold in July 2022: $44,960,953.
• Year To Date 2023: 801 condo/condotels sold with a median sales price of $287,000.
• Year To Date 2022: 1160 condo/condotels sold with a median sales price of $299,900. 

“Vacation condo sales dropped dramatically in July as the median sales price for condotels remained high and some buildings continued to face closures for remodels and repairs,” Wysocarski said. 

July 2023 Daytona Beach MLS data for Condos and Condotels separated: 

• 107 condos sold with a median price of $332,500. 
• 12 condotels sold with a median price of $155,500.

 July 2023 highlights of luxury condo sales in the Daytona Beach area include: 

• A $940,000 condo sale at the Diamond Head Point Condominiums, New Smyrna Beach on 7/19.
• A $865,000 condo sale at the The Mediterranean Condominiums, Daytona Beach on 7/14.
• A $860,000 condo sale at the The Towers at Ponce Inlet Condominiums, Ponce Inlet on 7/20.

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 8/8/2023 for the following periods: 7/1/2023 to 7/31/2023, 7/1/22 to 7/31/22, 6/1/23 to 6/30/23, 6/1/22 to 6/30/22, 1/1/23 to 7/31/23, 1/1/22 to 7/31/22.