Daytona Beach, FL - The new year is off to a strong start when it comes to Daytona's condo market, even as realtors still deal with low inventory levels.
That's according to recent analysis of the Daytona Beach Multiple Listing Service (MLS), carried out by Wyse Home Team Realty, which showed that 138 condo units sold in the Daytona area throughout January with a median sales price of $258,500. That is a 25 percent increase over sales from last year, but the number is still down from sales in December—a typical trend for the start of a new year in Daytona Beach.
Sales volume was additionally up by 60 percent during January when compared to the same month last year, and median sales prices were up in annual comparisons by a notable 30 percent, all while realtors continue to struggle with rock bottom inventory levels.
Ron Wysocarski, broker and CEO of Wyse Home Team Realty, says inventory levels have increased slightly to 672 available units, which is up by 15 over December 2020. But, 2021's inventory levels are still 33 percent lower than the 1,005 units that were available during January of 2020.
"We continue to see the local condo market moving and thriving, despite the difficult inventory conditions," said Wysocarski. "The Daytona Beach condo market is off to an impressive start of 2021."
Highlights from January's sales include a $1 million sale, a $990,800 sale, and a $825,000 sales, all in the Daytona Beach Shores area.