Daytona Beach, FL – Despite the low number of condos on the market in Daytona Beach, sales and prices significantly increased in May.
According to the Daytona Beach Multiple Listing Service (MLS), 166 condos were sold at a median price of $196,500 in May, a large increase in sales and prices when compared to other months and years.
“We’re moving into the summer sales season at full speed,” says the CEO of The Wyse Home Team at Keller Williams Realty, Ron Wysocarski. “Buyers are ready to close deals, and these numbers show us that they’re finding a way to do that even as inventory levels remain seriously low.”
Wysocarski and his team analyzed the MLS report and found that sales last month increased 31.7% and prices jumped 8.2% compared to May of last year. Compared to other months, May saw a 31% increases in sales and 15% increases in price.
The inventory of condos in the area went down 16% from May 2016 making it harder for buyers to find available condos, however, year-to-year sales are still up 13.7% and prices are up over 9%.
The following are comparisons of condo and condotel sales and prices combined over both months and years:
In May, 149 condos were sold at a median price of $210,000 and 17 condotels were sold at a median price of $72,000.
Luxury condo sales in the area included a:
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