The number of condos sold in February across the Daytona Beach area was down from last year but better than in January.
An analysis of Daytona Beach Multiple Listing Service (MLS) data by Wyse Home Team Realty showed that 110 condo units were sold around the Daytona Beach area in February with a median sales price of $241,250. That’s a 71 percent increase over January, but a nearly 31 percent decline from February 2022. Sales volume in February was down by more than $18.7 million from last year, according to MLS reports. Meanwhile, the median condo sales price was 23 percent lower than it was in January but only slightly lower than prices in February 2022.
“It’s typical to see a seasonal incline in condo sales we see each year as tourist events like race week, bike week and spring break drives people to the Daytona Beach area,” said Ron Wysocarski, Broker and CEO of Wyse Home Team Realty in Daytona Beach. “And in this case, it was welcome improvement over January.”
Low inventory levels are playing a role in keeping prices high right now, Wysocarski said.
Inventory levels across the Daytona Beach MLS area continues to rebound, MLS reports show. The number of available units was up 42 percent in February compared to February 2022, as 784 condo units were made active at some point during the month. Buyers in February also had 19 additional units on the market to consider during the month, compared to the 765 units active in January, MLS reports show.
Daytona Beach MLS data for Condo and Condotel Sales combined:
- February 2023: 110 condo/condotels sold with a median sales price of $241,250.
- February 2022: 160 condo/condotels sold with a median sales price of $265,000.
- January 2023: 64 condo/condotels sold with a median sales price of $314,000.
- January 2022: 140 condo/condotels sold with a median sales price of $320,000.
- Total Volume Sold in February 2023: $33,209,923.
- Total Volume Sold in February 2022: $51,945,800.
- Year To Date 2023: 174 condo/condotels sold with a median sales price of $263,075.
- Year To Date 2022: 300 condo/condotels sold with a median sales price of $300,000.
“Vacation condo sales were also up in February, with 37 more units sold than in January,” Wysocarski said.
February 2023 Daytona Beach MLS data for Condos and Condotels separated:
- 97 condos sold with a median price of $275,000.
- 13 condotels sold with a median price of $145,000.
February 2023 highlights of luxury condo sales in the Daytona Beach area include:
- A $1,150,000 condo sale at the Palma Bella Condominiums, Daytona Beach Shores on 2/10.
- A $860,000 condo sale at the Ocean Walk Condominiums, New Smyrna Beach on 2/24.
- A $685,000 condo sale at the Palmas de Mallorca Condominiums, Daytona Beach Shores on 2/8.
Jimbo99 says
“White Flags of Surrender” ? Replacing 2 years of lower & more affordable prices with Biden’s inflation isn’t a soft landing. It’s selling what you already had, paying more for what your dollar was already buying for deeper in debt. The new normal is higher prices, each of us is eating Biden’s soft landing. Gasoline has been pretty steady, brace yourselves for the summer gouge and the seasonal fall & winter relief. We all have pretty much lived in Palm Coast during Trump & thru Biden to date. The worst gasoline prices I paid for 87 octane were $ 2.659 in 2019, under the Biden soft landing, paid as much as $ 5/gallon for 87 octane. Your grocery & every bill is higher too. That’s not a soft landing, it’s just deeper in debt, hammered into submission. Charging $ 5/gallon, when we get $ 3.50/gallon, that’s to make you feel like you got a deal. Marketing strategies of price, product, promotion & distribution. If we’re told that any of is is given up to 70 % off, we’re duped into believing you’re getting a bargain for overpaying for the item.
Don says
Who wants to live in this high crime area of thugs andvdrugs, not to mention all the strip malls and overpopulated areas 24-7 destruction of natural areas.