Cold Temps No Match For Hot Condo Sales

Posted

Daytona Beach, FL - Even as temperatures plummeted throughout the Daytona Beach area, condo sales were still heating up through the month of December.

Recent analysis of the Daytona Beach Multiple Listing Service (MLS) by Wyse Home Team Realty found that 188 units sold in the area for a median sales price of $248,950. Those sales figures are a 32 percent increase in condo sales over December 2019 and a 22 percent increase over condo sales in November 2020. Furthermore, sales volume was found to be up by 40 percent in December when compared to last year.

In annual comparisons, median sales prices were found to be up by 14 percent, but down when compared to November 2020. Still, the increases were achieved as the area continued to battle staggeringly low inventory levels after the number of available units dropped to just 657 during December. That's down by 91 units when compared to November and down by 31 percent when compared to December 2019.

“An increase in sales and decrease in median sales price from November to December is typical for the Daytona Beach condo market,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty. “We continue to see the Daytona Beach condo market behaving as expected even though many events in 2020 were far from expected.”

All told, both sales and median sales prices are up for 2020, according to MLS data. In comparison to 2019, sales were 18 percent higher while median sales prices were up by almost 13 percent.

Highlights from December include a Ponce Inlet condo that sold for $1.015 million, a Daytona Beach Shores Condo that sold for $1 million, and a $986,000 condo sale in Palm Coast.

Comments

No comments on this story | Please log in to comment by clicking here
Please log in or register to add your comment