Home sales up but prices down

Ormond Beach Observer
Real Estate

There was a rise in home sales across the greater Daytona Beach area in July, but a drop in price compared to June.

The Daytona Beach Multiple Listing Service reported that 515 existing single-family homes were sold. That’s a 10% increase in sales compared to the same month a year earlier, and a 7.5% increase over home sales in June, according to an analysis provided by Realtor Ron Wysocarski, broker and CEO of Wyse Home Team Realty in Port Orange.

Meanwhile, the median sales price for homes, $240,400, was down more than 5.5 percent compared to June. The median sales price in July was 7% above the price of July one year ago.

The home sales spike in July helped bring overall sales in line with last year, Wysocarski said. Year to date, there have been just four fewer single-family home sales across the Daytona Beach area than took place during the same period of 2018, he said.

The median sale price for homes sold in the first seven months of the year is 5.8% higher than it was last year. And sales volume is up 7% compared to the first 7 months of 2018, according to MLS reports.

The number of homes listed in the Daytona Beach Area MLS held fairly steady. There were 12 fewer homes active on the MLS in July than were available in June. And the inventory total is four higher than the number of homes on the market in July 2018.

ORMOND BEACH COMPARISONS

More homes were sold in Ormond Beach than other key cities on the east side of Volusia County, according to date supplied by Wyse Home Team Realty. In Ormond Beach, there were 130 sales with a $295,000 median sales price. On the beachside (Ormond-by-the-Sea to Ponce Inlet), there were 71 sales with a $300,000 median sales price. Port Orange had 98 sales with a $250,000 median sales price and New Smyrna Beach had 70 sales with a $379,125 median sales price.

CONDO SALES

There was a notable drop in condo sales in July, compared to condo sales in June, according to Wysocarski. There were 113 condo units sold around the Daytona Beach area in July, a 19% decline from July 2018 and a 22% drop compared to June.

But the median condo sales price in July served as a solid recovery from a painful dip in June, Wysocarski said. The median price of condo sales in the Daytona area during July was $205,900. That’s more than 17% higher than the $175,100 median price in June, and it’s 12.5% higher than the median price in July 2018.

Year-to-date, sales are down slightly while median condo sales price is up slightly. The year-to-date sales price was $200,000, comparted to $196,000 for the same period in 2018.

“It’s good to see the median sales price back on track,” said Wysocarski said. “Another month of lackluster condo sales is a concern, though.”