Inventory Of Available Homes Desperately Low In Daytona Beach
Daytona Beach home sales remained strong in August, despite difficult inventory conditions.
For the month ending on August 31, 2020, the Daytona Beach Area Multiple Listing Service (MLS) reported that 513 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $270,000. That’s 7 percent higher than the number of homes sold in August 2019, but down from home sales in July.
With the inventory of available homes for sale running desperately low, the median price for homes bought and sold in August also was up, MLS reports show. The median sales price was near level with July, which amounts to a 9 percent increase over the median sales price in August 2019.
Year to date, the market has nearly made up for sales lost during COVID closures around the state. Reports show single family home sales are now less than one percent, compared to the first eight months of 2019. Meanwhile, the median sales price for the same period was up 7 percent over last year.
- August 2020: 513 sales, $167,112,127 sales volume, $270,000 median sales price.
- August 2019: 478 sales, $139,066,417 sales volume, $246,700 median sales price.
- July 2020: 601 sales, $195,446,918 sales volume, $269,900 median sales price.
- July 2019: 526 sales, $157,576,463 sales volume, $242,000 median sales price.
- June 2020: 531 sales, $162,839,029 sales volume, $260,000 median sales price.
- Year-To-Date 2020: 3530 sales, $1,081,735,951 sales volume, $256,950 median sales price.
- Year-To-Date 2019: 3558 sales $1,034,678,910 sales volume, $240,000 median sales price.
“The slowdown in total sales last month from July is typical for this time of year as local students head back to class,” said Daytona Beach Area Realtor Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange, FL. “The inventory levels are the real story right now as the number of available homes continues to fall, pushing up prices.”
The area’s already low inventory levels fell further in August, according to MLS reports. The total number of homes listed was 29 percent lower than the number of homes available in August 2019.
- August 2020 Inventory: 1640 single family home listings were active at some point during the month
- August 2019 Inventory: 2322 single family home listings were active at some point during the month
- July 2020 Inventory: 1826 single family home listings were active at some point during the month
- Year-To-Date 2020 Inventory: 6208 home listings have been made active during the first 8 months of this year.
- Year-To-Date 2019 Inventory: 6991 home listings were made active during the first 8 months of last year.
Wyse Home Team Realty also analyzed data for key areas where homebuyers shop. Sales gained momentum in Port Orange during August. But Ormond Beach was home to the highest total sales and median sales price.
- Ormond Beach: 120 sales, $326,250 median sales price.
- Mainland Daytona (Including Holly Hill and South Daytona): 65 sales, $200,000 median sales price.
- Beachside (Ormond By The Sea to Ponce Inlet): 61 sales, $301,800 median sales price.
- Port Orange: 104 sales, $294,500 median sales price.
- New Smyrna Beach: 80 sales, $318,750 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 9/17/20 for the following periods: 6/1/20 to 6/30/20, 8/1/19 to 8/31/19, 8/1/20 to 8/31/20, 7/1/20 to 7/31/20, 7/1/19 to 7/31/19, 1/1/20 to 8/31/20, 1/1/19 to 8/31/19. New Smyrna Beach sales figures are based on information accessed from the New Smyrna Beach Multiple Listing Service on 9/17/20 for the period of 8/1/20 to 8/31/20. 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.