Sun • Scene • Sand • Surf
Headline Surfer® photo illustration / DAYTONA BEACH, Fla. -- With summer just days away, here's some good news for thew World's Most Famous Beach®: Condominium sales in greater Daytona Beach rose marginally in the month of May -- in a year-over-year comparison as prices dipped slightly.
That's the latest analysis from The Wyse Home Team at Keller-Williams Realty in Port Orange.
According to the Daytona Beach Multiple Listing Service, there were 121 condo sales in May, which is three more sales than occurred in both April of this year and May of last year. Median sales prices, meanwhile, dropped by a marginal $2,500 from last May and fell by $11,500 from April of this year.
“Inventory levels continue to be something we’re watching,” Ron Wysocarski, CEO of The Wyse Home Team at Keller Williams Realty in Port Orange, told Headline Surfer®, explaining further, “While the overall market inventory remains very low, we’ve seen more condos come onto the market to help the gap between the high demand and low inventory.
Wysocarski added, "MLS data shows that in May, the number of active condo listings was only 2 percent less than the number of active condo listings in May 2015.”
And while luxury condo sales stayed steady year-over-year, executive condo sales in the $300,00 to $500,000 price range were down by about 28 percent in May, Wysocarski pointed out, adding this too, is something he and his agents are keeping an eye on.
Inventory levels steady for luxury condos, but exec sales down...
“Inventory levels continue to be something we’re watching,” Ron Wysocarski, CEO of The Wyse Home Team at Keller Williams Realty in Port Orange, told Headline Surfer®, explaining further, “While the overall market inventory remains very low, we’ve seen more condos come onto the market to help the gap between the high demand and low inventory.
Wysocarski added, "MLS data shows that in May, the number of active condo listings was only 2 percent less than the number of active condo listings in May 2015.”
And while luxury condo sales stayed steady year-over-year, executive condo sales in the $300,00 to $500,000 price range were down by about 28 percent in May, Wysocarski pointed out, adding this too, is something he and his agents are keeping an eye on.
FAST FACTS: By the numbers
Daytona Beach MLS data for condo and condotel sales combined:
• May 2016: 121 condo/condotels sold with a median sales price of $182,000;
• May 2015: 118 condo/condotels sold with a median sales price of $184,500;
• April 2016: 118 condo/condotels sold with a median sales price of $193,500;
• April 2015: 125 condo/condotels sold with a median sales price of $130,000;
• YTD 2016: 548 condo/condotels sold with a median sales price of $165,000;
• YTD 2015: 547 condo/condotels sold with a median sale price of $160,000.
Daytona Beach MLS data for condos and condotels separated:
• May 2016: 112 condos sold with a median price of $195,000;
• May 2016: 9 condotels sold with a median price of $71,300.
Here are some key May 2016 highlights of luxury condo sales in the Daytona Beach area:
• $825,000 condo sale in The Inlet Condos, New Smyrna Beach on May 18;
•$710,000 condo sale at St. Kitts Condos, Daytona Beach Shores on May 18;
• $688,000 condo sale at Minorca Condos, New Smyrna Beach on May 9;
• $650,000 condo sale at Hawks Nest, Port Orange on May 6;
• $605,000 condo sale at Towers Seven, Ponce Inlet on May 24.
About the Realtor: Ron sells the Beach!
Ron Wysocarski has been in real estate finance and sales for more than a decade and is a recognized industry leader.
