Daytona Beach, FL - It's a trend local realtors have been following for a while, and it looks like it's not stopping yet.
The latest report from the team at Wyse Home Team Realty found that 514 single-family homes sold in the Daytona Beach area throughout September with a median home sales price of $276,000. That, however, is just a few homes shy of the amount of homes sold the month prior, but it is still an 18% increase when compared to September of last year.
Yet, even with another month of a continued upward trend in sales, there is still one downward trend realtors are still battling with, and that's "desperately low" inventory levels.
On the plus side, the median price for homes bought and sold in September was also up, according to reports from the Daytona Beach Multiple Listing Service (MLS). In fact, the median sales price was near level with August and up 11% from September 2019.
"Home sales typically fall slightly in September, but pent up buyer demand created by COVID closures and low inventory levels kept the market moving last month," said Ron Wysocarski, broker and CEO of Wyse Home Team Realty.
When asked about when the area could see a change in inventory levels, Ron told News Daytona Beach that he expects to see more inventory hit the market following the Presidential Election and the first of next year.
"The question is, will it be enough inventory to overcome this dramatic shortage that we have," added Ron.
Around the area, Ormond Beach had the highest number of sales with 145 homes sold, followed by Port Orange with 93 sales, Mainland Daytona with 75 sales, New Smyrna Beach with 74 and Beachside Daytona with 61.
New Smyrna Beach, however, had the highest median sales price in the area at $340,000.