Daytona Beach Area Condo Sales In July 2022
In what is typically one of the busiest home sales months of the year, both condo sales and prices were down across the Daytona Beach area in July.
An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed that 127 condo units were sold around the Daytona Beach area in July with a median sales price of $255,000. It’s less than the number of condos sold in June and down 37% percent from July 2021. Sales volume in July was down by more than $1.3 million from last year. And MLS reports show the median condo sales price in July was 8 percent lower than the median price in 2021.
“The fed has taken steps in recent months aimed at cooling down real estate markets,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange. “July’s reduced condo sales and prices are the outcome of those efforts.”
The inventory of available condos increased in July, resulting in 605 condo units made active at some point during the month. That’s up from 535 units active in June and it’s 26 percent higher than the 479 available condo units in the Daytona Beach MLS during July 2021.
Year to date, condo sales are down 18% percent and the median condo sales price rose 15 percent over the first half of 2021.
Daytona Beach MLS data for Condo and Condotel Sales combined:
- July 2022: 127 condo/condotels sold with a median sales price of $255,000.
- July 2021: 200 condo/condotels sold with a median sales price of $277,450.
- June 2022: 153 condo/condotels sold with a median sales price of $315,000.
- June 2021: 197 condo/condotels sold with a median sales price of $255,000.
- Total Volume Sold in July 2022: $44,796,953.
- Total Volume Sold in July 2021: $58,710,064.
- Year To Date 2022: 1157 condo/condotels sold with a median sales price of $299,900.
- Year To Date 2021: 1408 condo/condotels sold with a median sales price of $260,000.
“Since most condotels are purchased with cash, the Fed’s interest rate hikes haven’t yet had a big effect on Daytona’s vacation condo market,” Wysocarski said. “Condotel sales remained strong in July, and the median sales price of condotels climbed notably from the $134,000 median sales price in June.”
July 2022 Daytona Beach MLS data for Condos and Condotels separated:
- 102 condos sold with a median price of $335,500.
- 25 condotels sold with a median price of $175,000.
July 2022 highlights of luxury condo sales in the Daytona Beach area include: