Condo sales were notably strong across the Daytona Beach area during March. Not surprisingly, sales were significantly higher than last March when the world first heard the words Covid-19 and business activities around the state came to a screeching halt.
An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed that 236 condo units were sold around the Daytona Beach area in March with a median sales price of $250,000. That’s a nearly 31 percent increase in condo sales compared to February and 107 percent increase over March 2020. Sales volume was up by 26 percent over February and rose 126 percent from last March.
Meanwhile, MLS reports show the median condo sales price fell $25,000 from February but remained 1.3 percent higher than the median price in March 2020. This, as inventory of available condos crashed to new lows from the already rock bottom levels in February. In March, there were 549 condo units active at some point during the month. That’s down 16 percent from 635 units active in February and it’s 46 percent lower than the 1,025 available condo units in the Daytona Beach MLS during March 2020.
Year to date, condo sales are up 53 percent and the median condo sales price rose 21 percent over the first three months of 2020.
“Every time we think the inventory levels cannot fall any lower, we hit a new low,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange.
Daytona Beach MLS data for Condo and Condotel Sales combined:
- March 2021: 236 condo/condotels sold with a median sales price of $250,000.
- March 2020: 114 condo/condotels sold with a median sales price of $246,500.
- February 2021: 180 condo/condotels sold with a median sales price of $275,000.
- February 2020: 138 condo/condotels sold with a median sales price of $202,500.
- Total Volume Sold in March 2021: $66,664,383.
- Total Volume Sold in March 2020: $29,369,662.
- Total Volume Sold in February 2021: $52,704,253.
- Year To Date 2021: 554 condo/condotels sold with a median sales price of $261,250.
- Year To Date 2020: 362 condo/condotels sold with a median sales price of $215,000.
“Vacation condo sales continued to be extremely strong,” Wysocarski said. “In fact, last month’s condotel sales rose 87 percent from February.”
February Daytona Beach MLS data for Condos and Condotels separated:
- 191 condos sold with a median price of $297,500.
- 45 condotels sold with a median price of $85,000.
The February 2020 highlights of luxury condo sales in the Daytona Beach area include:
- A $3,000,000 condo sale at Aliki Tower Condos, Daytona Beach on 3/17.
- A $1,225,000 condo sale at Cottages at Ponce Inlet, Ponce Inlet on 3/10.
- A $1,075,000 condo sale at Aliki Tower Condos, Daytona Beach on 3/31.