Home Sales Were Steady In October

Single family home sales remained steady in October across the Daytona Beach area, according to the Wyse Report.

For the month ending on October 31, 2019, the Daytona Beach Multiple Listing Service (MLS) reported that 420 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $255,500. The sales are a nominal 1 percent lower than in September, and just 2 percent lower than in October 2018. Year to date, the total number of homes sold sits slightly above sales totals from the first 10 months of 2018.  Sales volume is up 8.6 percent compared to the first 10 months of 2018, according to MLS reports.

The median sales price for single family homes sold in October was up in both monthly and annual comparisons. MLS reports show the median sales price rose by more than 8 percent over October 2018. It was up 2 percent from September. Year to date, the median sales price remains 6 percent higher than it was during the first 10 months of last year.

• October 2019: 420 sales, $255,500 median sales price.
• October 2018: 429 sales, $235,095 median sales price.
• September 2019: 425 sales, $249,900 median sales price.
• September 2018: 400 sales, $231,450 median sales price.
• Year-To-Date 2019: 4398 sales, $1,286,958,827 sales volume, $243,000 median sales price.
• Year-To-Date 2018: 4387 sales, $1,184,667,785 sales volume, $229,000 median sales price.

“It’s great to see the fourth quarter is off to a strong start,” said Daytona Beach Area Realtor Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Port Orange, FL.

Inventory rose slightly in October but remained below the 2,481 homes available in October last year. Year to date, the inventory of single-family homes listed on the MLS is up by just 1.5 percent over the first 10 months of 2018.

• October 2019 Inventory: 2254 single family home listings were active at some point during the month
• September 2019 Inventory: 2230 single family home listings were active at some point during the month
• Year-To-Date 2019 Inventory: 8192 single family home listings were active at some point during the period.
• Year-To-Date 2018 Inventory: 8065 single family home listings were active at some point during the period.

Wyse Home Team Realty also analyzed data for key areas where homebuyers shop. Median sales prices were particularly strong in Ormond Beach and on in Port Orange. But New Smyrna Beach experienced a nice jump in sales will retaining the area’s highest median sales price.

• Ormond Beach: 106 sales, $281,875 median sales price.
• Mainland Daytona (Including Holly Hill and South Daytona): 71 sales, $158,900 median sales price.
• Beachside (Ormond By The Sea to Ponce Inlet): 55 sales, $265,100 median sales price.
• Port Orange: 62 sales, $274,000 median sales price.
• New Smyrna Beach: 59 sales, $322,700 median sales price.

The Wyse Report is a periodic report analyzing real estate sales, prices and trends in the greater Daytona Beach area.