Home sales continued to cool down across the Daytona Beach area during April, along with the median home sales price.
An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed that 380 existing single-family homes (detached) were sold in the Daytona Beach area with median home sales price of $365,622. That’s a more than 13 percent decrease in total home sales compared to April 2022, and it’s more than 11 percent lower than home sales in March. Similarly, total sales volume was down 13.6 percent in annual comparisons, and nearly 14 percent lower than home sales volume in March. Year to date, single family home sales reported in the Daytona Beach MLS are down 22 percent.
Meanwhile, the median home sales price in the Daytona Beach area was also down in both monthly and annual comparisons, according to MLS reports. At $365,622, the median home sales prices across the area during April was 3.1 percent lower than last year and 3.8 percent lower than in March. Year to date, MLS reports indicate the median sales price is still 2.5 percent higher than it was during the first four months of 2022.
- April 2023: 380 sales, $169,639,515 sales volume, $365,622 median sales price.
- April 2022: 437 sales, $196,525,367 sales volume, $377,500 median sales price.
- March 2023: 429 sales, $196,996,042 sales volume, $379,990 median sales price.
- March 2022: 510 sales, $232,581,705 sales volume, $370,000 median sales price.
- Year-To-Date 2023: 1304 sales, $578,471,236 sales volume, $369,945 median sales price.
- Year-To-Date 2022: 1682 sales, $729,797,490 sales volume, $360,995 median sales price.
“Despite a little cooldown happening in Daytona Beach Home sales, the overall market conditions here remain strong,” said Daytona Beach Area Realtor Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Daytona Beach, FL.
The inventory levels of available homes listed for sale in Daytona Beach decreased in April, with the MLS reporting that there were roughly 42 less homes on the market than the month prior. Overall, MLS reports show inventory levels were more than 56 percent higher than the number of homes available in April last year.
- April 2023 Inventory: 1,545 single family home listings were active at some point during the month.
- April 2022 Inventory: 988 single family home listings were active at some point during the month.
- March 2023 Inventory: 1,587 single family home listings were active at some point during the month.
- Year-To-Date 2023 Inventory: 3,160 single family home listings were active at some point during the period.
- Year-To-Date 2022 Inventory: 2,589 single family home listings were active at some point during the period.
“Inventory is up quite a bit over last year, though there was a little dip in the number of homes on the market during April,” Wysocarski said. “I anticipate prices will remain fairly strong through the summer months.”
Wyse Home Team Realty also analyzed data for key areas where home buyers’ shop. The reports show sales were down in all areas except Mainland Daytona Beach, where sales rose slightly. New Smyrna Beach held the top spot for highest median sales price during April, at $459,000.
- Ormond Beach: 86 sales, $399,000 median sales price.
- Mainland Daytona (Including Holly Hill and South Daytona): 62 sales, $264,950 median sales price.
- Beachside (Ormond By The Sea to Ponce Inlet): 44 sales, $399,000 median sales price.
- Port Orange: 62 sales, $375,000 median sales price.
- New Smyrna Beach: 67 sales, $459,000 median sales price.
I’ve never seen so many ocean front properties with “For Sale” signs in the yards. Hurricane season getting ready to start again.
When does the rental market start reflecting this? Rents in this area are completely outrageous since COVID and the influx of new residents.