Daytona home inventory keeps dropping as home sales skyrocket

Ormond Beach Observer
Real Estate

by: Heather Scofield

Marketing Director, Wyse Home Team Realty

Inventory levels fell hard as home sales remained sky high across the Daytona Beach area in November.

For the month ending on Nov. 30, the Daytona Beach Area Multiple Listing Service reported that 438 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $270,128. That’s more than 20% higher than home sales in November 2019.

With the inventory of available homes for sale falling another 9% from October’s desperately low numbers, the median price for homes bought and sold in November also was up, MLS reports show. The median sales price remained level with the median sales price in October, and it was up 11% over November last year.

Year to date, home sales are up by over 4.5%, compared to the first 11 months of 2019. And the median sales price for the same period was up by more than 7.5% over last year.

November 2020: 438 sales, $149,140,270 sales volume, $270,128 median sales price.
November 2019: 363 sales, $100,871,432 sales volume, $242,500 median sales price.
October 2020: 515 sales, $172,972,997 sales volume, $270,000 median sales price.
October 2019: 425 sales, $120,361,100 sales volume, $255,000 median sales price.
Year-To-Date 2020: 5012 sales, $1,580,558,891 sales volume, $261,995 median sales price.
Year-To-Date 2019: 4780 sales $1,386,137,351 sales volume, $243,000 median sales price.

“Inventory levels fell harder than usual this year as we headed into the holiday season,” said Daytona Beach Area Realtor Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange, “The fact so many homebuyers found a deal to close when there were so few homes to choose from is a testament to the intensity of buyer demand right now.”

The area’s low inventory levels fell by another 9% from October to November, according to MLS reports. And the number of homes available was 36% lower than the number of homes available in November 2019. Year to date, there have been 10% fewer homes to hit the market than were listed during the first 11 months of 2019.

November 2020 Inventory: 1420 single family home listings were active at some point during the month
November 2019 Inventory: 2228 single family home listings were active at some point during the month
October 2020 Inventory: 1566 single family home listings were active at some point during the month
Year-To-Date 2020 Inventory: 7820 listings have been made active during the first 11 months of this year.
Year-To-Date 2019 Inventory: 8750 listings were made active during the first 11 months of last year.

Wyse Home Team Realty also analyzed data for key areas where homebuyers shop. The reports show median sales prices were unusually high in Ormond Beach and New Smyrna Beach during November.

Ormond Beach: 123 sales, $320,000 median sales price.
Mainland Daytona (Including Holly Hill and South Daytona): 61 sales, $196,000 median sales price.
Beachside (Ormond By The Sea to Ponce Inlet): 53 sales, $302,000 median sales price.
Port Orange: 67 sales, $295,000 median sales price.
New Smyrna Beach: 71 sales, $399,500 median sales price.