Daytona Beach, FL – Condominium sales in the Daytona Beach market get off to a solid start in 2016.
The latest Multiple Listing Service report shows 88 condos and condotels were sold last month in the Daytona Beach area for a median price of $155,500. That’s 2 fewer than the number sold the January prior but the median price went up by $12,500 – or over 8% – when compared to that same month.
A big reason for the gain in median price was the number of high-priced condos that sold in January, according to Ron Wysocarski, Chief Executive Officer of The Wyse Home Team at Keller Williams Realty in Port Orange.
“The robust market for luxury condos was the big story in January,” Wysocarski added. “One condo sold for over $1 million, 5 more sold above the $500,000 mark, and another dozen executive condos sold in the $300,000 to $500,000 range. That’s quite an improvement over January [2014] sales, which offered no million dollar transactions, just 3 condos over $500,000 and half as many executive condo sales.”
The largest condo sale last month was for $1.2 million at Aliki Tower in Daytona Beach Shores. There was also a $690,000 sale at Minorca Condos in New Smyrna Beach, $683,000 and $650,000 sales at Ocean Villas Condos in Daytona Beach Shores and a $585,000 sale at Capriana Condos in Ormond By The Sea.
January’s numbers fell below December 2015’s output in both home sales (106) and median price ($182,750), but Wysocarski said it was “strong and steady” considering that January tends to be a slow time for condo sales.
Of the 88 that sold in January, 80 were condos that went for a median price of $164,250. The other 8 were condotels that went for a median price of $56,000.
Copyright 2016 Southern Stone Communications.