Daytona Beach Condo Sales - May 2021

Inventory levels crashed further in May, hampering condo sales across the Daytona Beach area..

An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed that 200 condo units were sold around the Daytona Beach area in May with a median sales price of $239,000. It’s a stunning 147 percent higher than condo sales in May 2020, when all but Florida’s most essential services were shut down to slow the spread of COVID-19.  Sales volume in May was up by more than $36 million from last year.  And MLS reports show the median condo sales price in May was 19.5 percent higher than the median price in 2020. 

“It’s typical for condo sales to fall slightly each year between April and May as our snow birds head north for the summer,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange.  “However, this year’s 19 percent drop in condo sales was deeper than anticipated with the extremely low inventory levels likely playing a role.”

The inventory of available condos took another deep dive, resulting in just 458 condo units made active at some point during the month of May. That’s down nearly 11 percent from 513 units active in April and it’s 58 percent lower than the 1,102 available condo units in the Daytona Beach MLS during May 2020.

Year to date, condo sales are up 89 percent and the median condo sales price rose nearly 27 percent over the first five months of 2020.

Daytona Beach MLS data for Condo and Condotel Sales combined:

• May 2021: 200 condo/condotels sold with a median sales price of $239,000.
• May 2020: 81 condo/condotels sold with a median sales price of $200,000.
• April 2021: 249 condo/condotels sold with a median sales price of $275,000.
• April 2020: 88 condo/condotels sold with a median sales price of $166,500.
• Total Volume Sold in May 2021: $ 56,390,645.
• Total Volume Sold in May 2020: $20,741,672.
• Total Volume Sold in April 2021: $78,147,197.          
• Year To Date 2021: 1006 condo/condotels sold with a median sales price of $259,950.
• Year To Date 2020: 531 condo/condotels sold with a median sales price of $205,000.

“As residential condo prices continue to climb in our area, we are seeing more vacationers considering purchases in our the resort-style condotel buildings,” Wysocarski said.

May 2021 Daytona Beach MLS data for Condos and Condotels separated:

• 170 condos sold with a median price of $273,500. 
• 30 condotels sold with a median price of $104,750.

May 2021 highlights of luxury condo sales in the Daytona Beach area include:

• A $1,295,000 condo sale at Atlantic Villas Condos, New Smyrna Beach on 5/14.
• A $1,100,000 condo sale at Shoreham Condos, Ormond Beach on 5/10.
• A $1,050,000 condo sale at Palma Bella Condos, Daytona Beach Shores on 5/19.

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 6/23/2021 for the following periods: 5/1/2021 to 5/31/2021, 5/1/20 to 5/31/20, 4/1/21 to 4/30/21, 4/1/20 to 4/30/20, 1/1/20 to 5/31/20, 1/1/21 to 5/31/21.