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Ormond Beach Observer Saturday, Oct. 26, 2019 3 weeks ago

Home sales up slightly over last year

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Condo sales continue decline
by: Wayne Grant Real Estate Editor

For September, the Daytona Beach Multiple Listing Service reported that 418 existing single-family homes were sold in the greater Daytona Beach area with a median home sales price of $249,900. That’s 4.5 percent higher than sales were in September 2018. Year to date, home sales are slightly higher than they were around this time last year, according to an analysis of MLS data by Realtor Ron Wysocarski, broker and CEO of Wyse Home Team Realty in Port Orange,

The median sales price in September also was up, in both monthly and annual comparisons. In fact, MLS reports show the median sales price rose by nearly 8% over September 2018. Year to date, the median sales price remains 5.5% higher than it was during the first nine months of last year. And sales volume is up 8.6 percent compared to the first 9 months of 2018, according to MLS reports.

September sales dropped from August, but that’s normal, according to Wysocarski, as families settle into a new school year.

Inventory levels dropped again slightly in September. The total number of homes that were active on the MLS at some point during September, 2,228, was down from September of last year 2,300.

Wyse Home Team Realty also analyzed data for key areas where homebuyers shop. Median sales prices were particularly strong in Ormond Beach and on the beachside.

• Ormond Beach: $299,000 median sales price.

• Mainland Daytona: $166,000 median sales price. 

• Beachside (Ormond-by-the-Sea to Ponce Inlet):  $285,000 median sales price.

• Port Orange: $237,000 median sales price.

• New Smyrna Beach: $382,794 median sales price.

 

Condos sales still dropping

 

For the fourth consecutive month, condo sales around the greater Daytona Beach area were down in year-over-year comparisons, according to the Wyse Team analysis.

“Condo markets in many areas of the country are experiencing a significant cool down right now.”

RON WYSOCARSKI, Realtor

 

 

There were 120 condo units (including condotels) sold around the Daytona Beach area in September. That’s 7% lower than the number of units sold in September 2018. Year to date, condo sales are down by 3.5 percent.

Fortunately for area condo owners, median sales prices have remained steady. Year to date, the median condo sales price is level with the first nine months of 2018.

“Condo markets in many areas of the country are experiencing a significant cool down right now,” Wysocarski said.

In September, 120 condo/condotels sold with a median sales price of $234,750. For condos only, there were 108 sold with a median price of $240,862.  A condotel is a building where owners can rent out their condos as hotel rooms.

 

Ormond has second-fastest growing rent

 

In October, Ormond Beach retained its standing from September as the 8th most expensive city to rent out of 15 cities in the Orlando metro market area. The price of one-bedroom units grew 4.8% to $1,100, while two-bedroom units fell 4.7% to $1,620, according to an analysis by www.zumper.com.

The Florida one-bedroom median rent was $1,212 last month.

New Smyrna Beach remained the most expensive city with one-bedrooms priced at $1,350. Palm Coast was second with rent at $850 and Daytona Beach was third with rent up 1.2% to $860.

Year over year, Port Orange had the fastest growing rent, up 14.7% since this time last year. Ormond Beach saw rent climb 12.2%, making it the second fastest growing.

The full report can be found at www.zumper.com/blog/2019/09/orlando-metro-report-september-2019/.

 

 

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