Daytona Beach Area Home Sales Fell Further In May

Home sales dropped further in May, despite efforts to re-open Florida’s economy after a month-long shutdown.

For the month ending on May 31, 2020, the Daytona Beach Area Multiple Listing Service (MLS) reported that 350 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $240,600. That’s 36 percent lower than the number of homes sold in May 2019, and it’s a 41 percent drop in sales volume. The sales are 3 percent lower than in April, while official stay-at-home orders were in effect.

The median sales price for homes bought and sold in May also fell in monthly and annual comparisons, MLS reports show. The median sales price was down 2.7 percent compared to May 2019 and it fell 3.7 percent from April.

Year to date, home sales around Daytona Beach are down 9 percent compared to the first five months of 2019. The median sales price is up 6.3 percent, reports show.

• May 2020: 350 sales, $100,900,970 sales volume, $240,600 median sales price.
• May 2019: 552 sales, $171,419,917 sales volume, $247,300 median sales price.
• April 2020: 361 sales, $116,561,236 sales volume, $250,000 median sales price.
• April 2019: 494 sales, $135,843,056 sales volume, $230,000 median sales price.
• Year-To-Date 2020: 1878 sales, $554,580,027 sales volume, $249,850 median sales price.
• Year-To-Date 2019: 2071 sales $591,287,910sales volume, $235,000 median sales price.

“Unfortunately, the area’s home buyers and sellers continue to face a lot of economic uncertainty,” said Daytona Beach Area Realtor Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange, FL. “It’s understandable that many have put their moving plans on hold until there’s a clearer picture of what the months ahead will look like.”

The area’s already low inventory levels remained nearly unchanged in May, according to MLS reports. The total number of homes listed was 14 percent lower than the number of homes available in May 2019.

• May 2020 Inventory: 2125 single family home listings were active at some point during the month
• May 2019 Inventory: 2473 single family home listings were active at some point during the month
• April 2020 Inventory: 2124 single family home listings were active at some point during the month
• Year-To-Date Inventory: 2295 single family home listings were active at some point during the month

Wyse Home Team Realty also analyzed data for key areas where homebuyers shop. Sales were strongest in Ormond Beach and Port Orange. New Smyrna Beach retained the area’s highest median sales price at $315,900.

• Ormond Beach: 73 sales, $280,000 median sales price.
• Mainland Daytona (Including Holly Hill and South Daytona): 50 sales, $184,000 median sales price.  
• Beachside (Ormond By The Sea to Ponce Inlet):  48 sales, $268,750 median sales price.
• Port Orange: 72 sales, $253,500 median sales price.
• New Smyrna Beach: 39 sales, $315,900 median sales price. 

About The Wyse Report and Wyse Home Team Realty:

The Wyse Report is a periodic report analyzing real estate sales, prices and trends in the greater Daytona Beach area. Statistical information provided is based on information accessed from the Daytona Beach Area Association of REALTORS® Multiple Listing Service on 6/19/20  for the following periods: 4/1/20 to 4/30/20, 4/1/19 to 4/30/19, 5/1/20 to 5/31/20, 5/1/19 to 5/31/19, 1/1/20 to 5/31/20, 1/1/19 to 5/31/19. New Smyrna Beach sales figures are based on information accessed from the New Smyrna Beach Multiple Listing Service on 6/19/20 for the period of 5/1/20 to 5/31/20. Learn more about Wyse Home Team Realty by visiting www.RonSellsTheBeach.com. Specific data research requests and custom comparisons are available to the media, upon request. If you have questions or requests, please contact Wyse Home Team Realty’s Broker and CEO, Ron Wysocarski at 386-562-2651.