Daytona Beach Area Condo Sales In August 2022
Condo prices remained sky high as condo sales across the Daytona Beach area fell.
An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed that 146 condo units were sold around the Daytona Beach area in August with a median sales price of $319,500. It’s more than the number of condos sold in July, but down 19% percent from sales in August 2021. Sales volume in August was up by more than $2.9 million from last year. And MLS reports show the median condo sales price in August was 49 percent higher than the median price in 2021.
"The real estate market correction is clearly underway, with condo sales slowing 23 percent from last year’s totals,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange. “Despite the slowdown of sales, pent up market demand for Florida properties continues to drive median condo sales prices higher.”
The inventory of available condos increased in August, resulting in 651 condo units made active at some point during the month. That’s up from 610 units active in July and it’s 16 percent higher than the 561 available condo units in the Daytona Beach MLS during August 2021.
Year to date, condo sales are down 18% percent and the median condo sales price rose 18 percent over the first half of 2021.
Daytona Beach MLS data for Condo and Condotel Sales combined:
- August 2022: 146 condo/condotels sold with a median sales price of $319,500.
- August 2021: 181 condo/condotels sold with a median sales price of $215,000.
- July 2022: 128 condo/condotels sold with a median sales price of $254,000.
- July 2021: 200 condo/condotels sold with a median sales price of $277,450.
- Total Volume Sold in August 2022: $54,502,797.
- Total Volume Sold in August 2021: $51,552,188.
- Year To Date 2022: 1306 condo/condotels sold with a median sales price of $300,000.
- Year To Date 2021: 1589 condo/condotels sold with a median sales price of $255,000.
“Vacation condo sales were down in August, but the median sales price for condotels was up more than 10 percent from July,” Wysocarski said. “We are definitely still seeing strong investor activity in our area.”
August 2022 Daytona Beach MLS data for Condos and Condotels separated:
- 131 condos sold with a median price of $370,000.
- 15 condotels sold with a median price of $193,000.
August 2022 highlights of luxury condo sales in the Daytona Beach area include: