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Ormond Beach Observer Tuesday, Jun. 9, 2020 2 months ago

Condo sales fall 48% in Daytona Beach, prices dip 2.5%

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Year to date, condo sales are down nearly 15% from the first five months of 2019 and the median sales price remains level.
by: Guest Writer

Press release provided by Wyse Home Team Realty

Condo sales across the Daytona Beach area continued to fall in May, despite state efforts to re-open local businesses and the economy.

An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed there were just 79 condo units sold around the Daytona Beach area in May with a median sales price of $200,000. That’s 48% below the area’s condo sales in May 2019 and 9% lower condo sales in April, when Florida’s “Safer At Home” order was in effect. Overall sales volume in May was nearly half last year’s sales volume. Sales volume was up slightly from April, however.

The median condo sales price in May rose to $200,000. That’s 2.5% below the median sales price during the same month last year, but it’s 19% higher than the median price was in April. Year to date, condo sales are down nearly 15% from the first five months of 2019 and the median sales price remains level.

Daytona Beach MLS data for Condo and Condotel Sales combined:

  • May 2020: 79 condo/condotels sold with a median sales price of $200,000.
  • May 2019: 153 condo/condotels sold with a median sales price of $205,000.
  • April 2020: 87 condo/condotels sold with a median sales price of $168,000.
  • April 2019: 159 condo/condotels sold with a median sales price of $198,000.
  • March 2020: 113 condo/condotels sold with a median sales price of $245,000.
  • Total Volume Sold in May 2020: $20,246,672
  • Total Volume Sold in May 2019: $38,362,642
  • Total Volume Sold in April 2020: $18,424,420.
  • Year To Date 2020: 527 condo/condotels sold with a median sales price of $205,000.
  • Year To Date 2019: 618 condo/condotels sold with a median sales price of $204,900.

 May Daytona Beach MLS data for Condos and Condotels separated:

  • 59 condos sold with a median price of $276,000. 
  • 11 condotels sold with a median price of $65,000.

The May 2020 highlights of luxury condo sales in the Daytona Beach area include:

  • $1,389,000 condo sale at TydeMark Condos, New Smyrna Beach,  on 5/26.
  • $634,000 condo sale at Minorca Condos, New Smyrna Beach on 5/08.
  • $557,000 condo sale at Tuscany Shores Condos, Daytona Beach Shores on 5/29.

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