Daytona-area condo sales are up 63%, as prices fall 3%

Ormond Beach Observer
Real Estate

by: Heather Scofield

Marketing Director, Wyse Home Team Realty

Condo sales around the Daytona Beach ramped even higher in September, as prices fell.

An analysis of Daytona Beach Multiple Listing Service data by Wyse Home Team Realty showed that 201 condo units were sold around the Daytona Beach area in September with a median sales price of $227,850. That’s a few more sales than in August and it’s a marked 63% higher than last year’s sales condo sales. Sales volume also was up in both monthly and annual comparisons.

Meanwhile, MLS reports show the median condo sales price was more than 8.5% lower than in August and down 2.8% compared to September 2019. This, even as inventory of available condos remained extremely limited with only 816 condo units active during the month of September. MLS reports indicate that number is down 15% from September 2019.

Despite statewide shutdowns caused by the pandemic, year-to-date sales totals for 2020 are up, according to MLS data. All told, the number of condo sales completed during the first nine months of 2020 were 10% higher than same period of 2019. The median sales price was up 9.5% in year to date comparisons.

“Condo sales remained strong across Daytona Beach in September, but we did see a softening in the median sales price,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange.

Daytona Beach MLS data for Condo and Condotel Sales combined:

· September 2020: 201 condo/condotels sold with a median sales price of $227,850.

· September 2019: 123 condo/condotels sold with a median sales price of $234,500.

· August 2020: 198 condo/condotels sold with a median sales price of $249,500.

· August 2019: 150 condo/condotels sold with a median sales price of $216,300.

· July 2020: 190 condo/condotels sold with a median sales price of $241,250.

· Total Volume Sold in September 2020: $52,887,130.

· Total Volume Sold in September 2019: $29,136,350.

· Total Volume Sold in August 2020: $52,001,615.

· Year To Date 2020: 1294 condo/condotels sold with a median sales price of $225,000.

· Year To Date 2019: 1170 condo/condotels sold with a median sales price of $205,450.

“Despite the dip in the median condo sales price overall, vacation condo sales prices around Daytona Beach remained strong in September,” Wysocarski said.

September Daytona Beach MLS data for Condos and Condotels separated:

· 173 condos sold with a median price of $256,000.

· 28 condotels sold with a median price of $84,000.

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

· A $1,125,000 condo sale at Island Crowne Condos, Daytona Beach, on 9/11.

· A $925,000 condo sales at Kingston Tower Condos, Daytona Beach Shores on 9/18.

· A $805,000 condo sale at Seychelles Condos, Daytona Beach Shores on 9/17.

Visit RonSellsBeachCondos.com.