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Ormond Beach Observer Sunday, Apr. 28, 2019 6 months ago

Home sales drop from last year

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Prices were down 2% compared to March 2018
by: Wayne Grant Real Estate Editor

Home sales were down for the third consecutive month across the Daytona Beach area in March, according to an analysis of Multiple Listing Service data by Ron Wysocarski, broker and CEO of Wyse Home Team Realty in Port Orange.

In March, the MLS reported that 435 existing single-family homes were sold in the greater Daytona Beach area, which includes Ormond Beach, with a median home sales price of $230,500. That’s s a 7% drop in sales compared to the same month last year and a nearly 2% decline in median prices.

Compared to February 2019, sales were up by 52% and prices were down by 2%. And year to date, single family home sales are down by more than 9% across the Daytona area, while prices are up by 3%.

“Home sales weren’t as robust as we hoped during the first quarter of the year, but there is still strength in the market,” Wysocarski said.

Inventory levels rose again in March. There were 75 more homes on the market than were available during February, and 7% more listings than were available in March of 2018.

March 2019 single-family home sales data by area:

Ormond Beach: 102 sales, $277,000 median sales price; Mainland Daytona (Including Holly Hill and South Daytona): 57 sales, $178,000 median sales price; Beachside (Ormond-by-the-Sea to Ponce Inlet):  55 sales, $253,000 median sales price; Port Orange: 86 sales, $248,500 median sales price; and New Smyrna Beach: 54 sales with a $335,000 median sales price.

Condos had lackluster sales, but the median sales price rose in March, Wyse reported.

There were 108 condo units sold around the area in March. That’s a more than 18% drop in sales, compared to March of 2018. The median condo sales price in March was $239,950, up more than 11% over median sales prices last year.

In monthly comparisons, March condo sales matched February sales and prices rebounded strongly from the $180,000 median condo sales price reported in February. 

 

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