Daytona Beach, FL - An unexpected rise in home sales surprises realtors on the World's Most Famous Beach.
Throughout the month of July, data from the Daytona Beach Multiple Listing Service reports that 515 existing single-family homes were sold throughout the area with a median sales price of $240,000.
That's a 10% increase in sales compared to the same month last year, and a 7.5% increase over home sales in June.
Meanwhile, the median sales price for homes sold across Daytona in July were up nearly 7% in annual comparisons. But, in monthly comparisons, the median price was down more than 5.5%.
The spike in home sales in July helped bring overall sales in line with last year. Year-to-date, there have been just four fewer single family home sale across the Daytona Beach area than took place during the same period of 2018.
The median price for homes sold in the first seven months of the year is 5.8% higher than it was last year. Sales volume is also up 7% compared to the first seven months of 2018, according to MLS reports.
“The sales spike in July was a welcome surprise,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange, FL. “With more than half of the year passed, we’re looking at market conditions right now that are about level what they were around this time last year.”
The number of homes listed in the Daytona Beach MLS held fairly steady. There were 12 fewer homes active on the MLS in July than were available in June. And the inventory is four total higher than the number of homes on the market in July of 2018.
Year-to-date, the inventory of single-family homes listed on the MLS is up 4% over the first seven months of 2018.
Wyse Home Team Realty also found out that more homes were sold in Ormond Beach than any other key cities on the east side of Volusia County. New Smyrna Beach held its rank as being home to the highest median sales price at $379,125.
