Daytona Beach Condo Sales Steady In Early Weeks Of Pandemic
Condo sales remained steady across the greater Daytona Beach area in March, even as the growing cases of COVID-19 caused world health officials to declare a world pandemic was underway.
An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed there were 109 condo units sold around the Daytona Beach area in March with a median sales price of $245,000. The sales total is in line with sales last year, but it’s notably below the area’s strong condo sales in February. The overall sales volume in March was down by more than 6.5 million from February and down roughly $500,000 from last year.
MLS reports show the median condo sales price also held steady in March, ending 3 percent higher than the median condo sales price in March 2019. It was 20 percent higher than the median condo sales price in February. Year to date, sales are 16 percent higher than during the first 3 months of 2019, and the median sales price is up 3 percent.
“Although we did see some condo deals fall apart in March as it became more clear the U.S. was facing a serious health crisis, many more deals made it to the closing table,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange. “We see that in these sales totals.”
Daytona Beach MLS data for Condo and Condotel Sales combined:
- March 2020: 109 condo/condotels sold with a median sales price of $245,000.
- March 2019: 111 condo/condotels sold with a median sales price of $237,000.
- February 2020: 138 condo/condotels sold with a median sales price of $202,500.
- February 2019: 113 condo/condotels sold with a median sales price of $180,000.
- Total Volume Sold in March 2020: $28,159,012.
- Total Volume Sold in March 2019: $28,664,390.
- Total Volume Sold in February 2020: $34,711,800.
- Year To Date 2020: 357 condo/condotels sold with a median sales price of $215,000.
- Year To Date 2019: 306 condo/condotels sold with a median sales price of $208,150.
“March is usually a busy month for Daytona’s vacation condo market. But it’s no surprise we saw those types of sales falling as new cases of COVID-19 emerged and local officials were forced to shut down some Bike Week festivities” Wysocarski said. “Daytona’s vacation condo market will suffer more in the months ahead with ongoing travel bans, social distancing efforts, and stay-at-home orders in place around the world.”
March Daytona Beach MLS data for Condos and Condotels separated:
- 96 condos sold with a median price of $257,000.
- 13 condotels sold with a median price of $65,000.
The March 2020 highlights of luxury condo sales in the Daytona Beach area include:
- $1,125,000 condo sale at Aliki Tower, Daytona Beach, on 3/30.
- A $725,000 condo sale at Ocean Vistas Condos, Daytona Beach Shores on 3/31.
- A $685,000 condo sale at Bella Vista Condos, Daytona Beach Shores on 3/27.
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 4/7/2020 for the following periods: 3/1/19 to 3/31/19, 3/1/20 to 3/31/20, 2/1/19 to 2/29/19, 2/1/20 to 2/29/20, 1/1/20 to 3/31/20, 1/1/19 to 3/31/19.