Daytona Beach, FL - A series of increases throughout June show that Daytona's housing market is beginning to recover.
The latest analysis of the Daytona Multiple Listing Service by Wyse Home Team Realty shows a 10% uptick in the number of single-family homes sold in the area, which has gone up to 351 with a median sales price of $260,000, when compared to figures from June of 2019. When compared to May of this year, sales are up 50%.
The median sales price for homes bought and sold in June was also up in both monthly and annual comparisons.
“The COVID closures is caused a lot of pent up demand during what usually are some of the busiest months in real estate,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty. “Now, we have a situation where a lot of home buyers are competing in a very low inventory environment.”
However, year-to-date, the market's recent gains in home sales weren’t big enough to make up for the losses caused by pandemic closures.
Daytona's low inventory levels also fell further in June, after the total number of homes listed was found to be nearly 19% lower than the number of homes available in June 2019.