Daytona Beach, FL - As vacationers were sent packing by the state, condo sales in the greater Daytona Beach area fell throughout April.
Recent analysis of the Daytona Beach Multiple Listing Service (MLS) by local realtors, Wyse Home Team Realty in Port Orange, showed that 87 condos sold in the area with an "uncharacteristically low" median sales price of $168,000.
Those figures are 45% below the area’s condo sales in April of last year and 23% lower than in the early days of the pandemic. The overall sales volume in April was also slashed almost in half from last year’s sales volume and was down 36% from the previous month.
Median condo sales prices also took a hit as consumer markets paused for COVID-19. A steep 15% dive was noted in the median condo sales price compared to April of last year. Prices were additionally down more than 30%, compared to March.
“Since many people put their home buying plans on hold during April to prevent the spread of COVID-19, we may see some pent up demand affecting sales this summer as more businesses open and some restrictions relax,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty.
Year to date, sales are down 3.5% from the first four months of 2019 and the median sales price is near level.
