Surging Daytona Beach Home Sales

photo of a homeHome sales surged across the Daytona Beach area, as inventory levels continued to fall.

For the month ending on June 30, 2020, the Daytona Beach Area Multiple Listing Service (MLS) reported that 531 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $260,000. That’s nearly 10 percent higher than the number of homes sold in June 2019, and it’s a 50 percent higher than in May.  

The median sales price for homes bought and sold in June was also up in both monthly and annual comparisons, MLS reports show. The median sales price rose 1.8 percent compared to June 2019 and it’s up 7 percent from May.

Year to date, the gains in home sales weren’t large enough to make up for the losses that pandemic closures caused. home sales around Daytona Beach were down 5.5 percent in June, compared to the first six months of 2019. The median sales price was up 4.1 percent, reports show.

    • June 2020: 531 sales, $162,839,029 sales volume, $260,000 median sales price.
    • June 2019: 483 sales, $146,748,120 sales volume, $255,200 median sales price.
    • May 2020: 353 sales, $100,900,970 sales volume, $241,990 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.
    • Year-To-Date 2020: 2413 sales, $718,546,056 sales volume, $250,000 median sales price.
    • Year-To-Date 2019: 2554 sales $738,036,030 sales volume, $240,000 median sales price.

“The COVID closures is caused a lot of pent up demand during what usually are some of the busiest months in real estate,” said Daytona Beach Area Realtor Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange, FL. “Now, we have a situation where a lot of home buyers are competing in a very low inventory environment.”  

The area’s already low inventory levels fell further in June, according to MLS reports. The total number of homes listed was nearly 19 percent lower than the number of homes available in June 2019.

  • June 2020 Inventory: 1993 single family home listings were active at some point during the month
  • June 2019 Inventory: 2460 single family home listings were active at some point during the month
  • May 2020 Inventory: 2125 single family home listings were active at some point during the month
  • Year-To-Date Inventory: 5088 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, while there was a significant uptick in the number of beachside home sales. New Smyrna Beach also saw a sharp increase in home sales while also retaining the area’s highest median sales price at $340,900.

    • Ormond Beach: 128 sales, $282,500 median sales price.
    • Mainland Daytona (Including Holly Hill and South Daytona): 76 sales, $180,000 median sales price.  
    • Beachside (Ormond By The Sea to Ponce Inlet):  80 sales, $284,400 median sales price.
    • Port Orange: 78 sales, $270,000 median sales price.
    • New Smyrna Beach: 84 sales, $340,900 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 7/20/20  for the following periods: 6/1/20 to 6/30/20, 6/1/19 to 6/30/19, 5/1/20 to 5/31/20, 5/1/19 to 5/31/19, 1/1/20 to 6/30/20, 1/1/19 to 6/30/19. New Smyrna Beach sales figures are based on information accessed from the New Smyrna Beach Multiple Listing Service on 7/20/20 for the period of 6/1/20 to 6/30/20. 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 386-562-265

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