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Ormond Beach Observer Monday, Feb. 15, 2021 1 week ago

Daytona Beach-area condo sales up by 25% in January, price also up 30%

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The Wyse report for January 2021 shows a 60% increase in sales volume over January of last year.
by: Guest Writer

by: Heather Scofield 

Marketing Director, Wyse Home Team Realty 

The new year brought a strong start to the 2021 condo market across the Daytona Beach area.

An analysis of Daytona Beach Multiple Listing Service data by Wyse Home Team Realty showed that 138 condo units were sold around the Daytona Beach area in January with a median sales price of $258,500. That’s a 25% increase in condo sales over last year. The number is down from sales in December, a typical market trend for the start of a new year in Daytona Beach. Sales volume was up 60% during January compared to the same month last year.

The median condo sales price also was up in annual comparisons, by a notable 30%. And the median sales price rose by 3% from December. This, as inventory of available condos remained at rock bottom levels. In January, the number of available condo units rose slightly to 672 units active during the month. That is 15 units more than were available December, but it’s still 33% lower than the 1005 available condo units in the Daytona Beach MLS during January 2020.

“We continue to see the local condo market moving and thriving, despite the difficult inventory conditions,” said Ron Wysocarski, broker and CEO of Wyse Home Team Realty in Port Orange. “The Daytona Beach condo market is off to an impressive start for 2021.”

Daytona Beach MLS data for Condo and Condotel Sales combined:

  •  January 2021: 138 condo/condotels sold with a median sales price of $258,500.
  •  January 2020: 110 condo/condotels sold with a median sales price of $197,725.
  •  December 2020: 191 condo/condotels sold with a median sales price of $250,000.
  •  December 2019: 142 condo/condotels sold with a median sales price of $217,500.
  •  Total Volume Sold in January 2021: $40,258,974.
  •  Total Volume Sold in January 2020: $25,159,571.
  •  Total Volume Sold in December 2020: $52,806,399.

“While the overall condo sales in the area were down from December’s numbers, the demand for vacation condos remained particularly strong, leading to more condotels being sold during January than were sold in December,” Wysocarski said.

January Daytona Beach MLS data for Condos and Condotels separated:

  •  118 condos sold with a median price of $290,700.
  •  20 condotels sold with a median price of $77,000.

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

  •  A $1,000,000 condo sale at Ocean Villas Condos, Daytona Beach Shores on 1/15.
  •  A $990,800 condo sale at Ocean Villas Condos, Daytona Beach Shores on 1/15.
  •  A $825,000 condo sale at Ocean Vistas, Daytona Beach Shores, on 1/6.

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