Daytona home sales slumped in July

Ormond Beach Observer
Real Estate

by: Wyse Home TeamRealty

Median sales prices decreased slightly as Daytona Beach area home sales also decreased in July.

An analysis of Daytona Beach Multiple Listing Service data by Wyse Home Team Realty showed that 387 existing single-family homes were sold in the Daytona Beach area with median home sales price of $383,000. That’s a 26% decrease in total home sales from July 2021 and it’s 12% lower than home sales just one month prior. Total sales volume was down by 15% compared to July 2021 and was nearly 11% lower than home sales volume in June.

According to MLS reports, the median home sales price in the Daytona Beach area held strong at $383,000 during July. It’s 20% higher than the median home sales price was during the same month last year.

July 2022: 387 sales, $175,854,747 sales volume, $383,000 median sales price.
July 2021: 513 sales $207,679,710 sales volume, $325,000 median sales price.
June 2022: 438 sales, $197,100,981 sales volume, $385,000 median sales price.
June 2021: 559 sales $214,992,383 sales volume, $320,000 median sales price.
Year-To-Date 2022: 2913 sales, $1,295,077,103 sales volume, $374,900 median sales price.
Year-To-Date 2021: 3395 sales $1,275,280,191 sales volume, $305,000 median sales price.

“We knew a market slowdown was coming and it’s now visible in the monthly sales reports,” said Daytona Beach Area Realtor Ron Wysocarski, broker and CEO of Wyse Home Team Realty in Port Orange. “The good news for home sellers is that prices for single family homes held strong in July as demand continued to exceed local supply levels.”

The inventory levels of available homes listed for sale in the Daytona Beach increased in July with the MLS reporting that there were roughly 124 more homes on the market than were available in June. There were 14% more homes available this year than were available in July last year. Though the gap is closing, the number of detached single family homes listed on the MLS year-to-date is still down 5.5% from the same period in 2021.

July 2022 Inventory: 1,439 single family home listings were active at some point during the month.
July 2021 Inventory: 1,262 single family home listings were active at some point during the month.
June 2022 Inventory: 1,315 single family home listings were active at some point during the month.
Year-To-Date 2022 Inventory: 4,515 single family home listings were active at some point during the period.
Year-To-Date 2021 Inventory: 4,781 single family home listings were active at some point during the period.

Wyse Home Team Realty also analyzed data for key areas where home buyers shop. The reports show sales and prices were down slightly in Ormond Beach. Port Orange home sales decreased more notably in July. And beachside was home to the highest the median sales price during July, stealing the long-held title from New Smyrna Beach with a median sales price of $475,000.

Ormond Beach: 100 sales, $453,450 median sales price.
Mainland Daytona (Including Holly Hill and South Daytona): 60 sales, $260,000 median sales price.
Beachside (Ormond-by-the-Sea to Ponce Inlet): 39 sales, $475,000 median sales price.
Port Orange: 62 sales, $390,500 median sales price.
New Smyrna Beach: 51 sales, $384,000 median sales price.