Ormond Beach shows highest sales
After a slow first quarter of the year, single-family home sales around the greater Daytona Beach area picked up slightly in April, according to an analysis of Multiple Listing Service data by Ron Wysocarski, broker and CEO of Wyse Home Team Realty in Port Orange.
For April, the MLS reported that 483 single-family homes were sold in the greater Daytona Beach area with a median home sales price of $230,000. That’s a 4% rise in sales compared to the same month last year and just shy of a 1% increase in median sales prices. Compared to March, sales were up by 11% and median prices remained stable.
Those figures show an improvement. Year to date, single-family home sales are down by more than 4% across the Daytona area, while prices are up by just over 2 percent.
“We were happy to see sales pick up a little bit in April after a rocky start to the year,” Wysocarski said.
Inventory levels fell in April, leaving buyers with 113 fewer homes on the market to choose from than were available during March. Despite the drop, inventory levels remained 3 percent higher in April than they were in 2018. And year to date, inventory levels are up by 5 percent, according to MLS data.
ORMOND BEACH SALES
Compared to other cities in the area, Ormond Beach showed the strongest sales totals in April. There were 121 home sales in Ormond Beach, 90 in Port Orange and 52 in New Smyrna Beach.
New Smyrna Beach had the highest median sales price at $389,000. The median sales price in Ormond Beach was $280,000, and the median price in Port Orange was $250,000.
The data in Ormond Beach was quite a bit more dramatic than the area-wide figures, according to Michelle Cecchini, of Ormond Beach, broker and owner of Chelle Realty. She said sales of single-family homes and townhomes in Ormond Beach were up 14.5% in April, compared to April of last year, while condos and condotels were down 25.9%.
“An interesting stat is that sales of condominiums have decreased and single-family homes increased over the last year. In my opinion this relates to the increase in single-family new home construction opportunities,” she said.
Home sales are strong because Ormond Beach is a highly desired area without enough inventory for the current number of potential buyers, she said.
CONDOS PRICES FALL
For the entire Daytona Beach market, area condo sales improved in April, but median sales prices fell for the first time in months, Wysocarski said.
There were 155 condo units sold around the Daytona Beach area in April. That’s a 6% increase in sales compared to April of 2018. Unfortunately, year-to-date sales were down 3% compared to the number of condo sales during the first four months of last year.
There was a 6% median price drop in area’s condo market during April. The median condo sales price in April was $195,000, down $12,500 from median sales prices in April 2018.
“We’ve enjoyed several years of constant growth,” Wysocarski said. “These little swings in sales and prices are telling us that the market is neutralizing.”