Daytona Beach, FL – For the first time in 6 months, condominium sales prices in the Daytona Beach area take a tumble.
The latest report from the Multiple Listing Service shows 117 condos and condotels sold last June for a median sales price of $138,000.
That’s $34,500 below what the Daytona Beach area posted in June 2014, even though there were actually 11 more condo and condotel sales last June compared to that month.
Ron Wysocarski – leader of the Wyse Condo & Home Teams at Keller Williams Realty in Port Orange – says a lot of low-priced condos changing hands led to the first median sales price drop in the market since January.
“105 condos sold with a median price of $169,000,” Wysocarski noted. “12 condotels sold with a median price of $60,784.”
Having said that, Wysocarski did add that luxury condo sales were strong in June, something he saw as a positive sign moving forward.
“These are indicators the local condo market continues to be healthy and robust,” Wysocarski stated. “Not only are buyers increasingly interested in owning condos [in] the area but they are also willing to make large investments in the condo market.”
The highest of those luxury condo sales last month was $900,000 at the Ocean Villas Condos in Daytona Beach Shores. Another condo in that same area sold last month for $820,000.
Other notable purchases last month include a $700,000 condo at Aliki Tower Condos in Daytona Beach and a $580,000 condo at Bella Vista Condos in Daytona Beach Shores.
MLS data shows 106 condos and condotels sold in the Daytona Beach area for a median sales price of $172,500 in June 2014, while 93 condos and condotels sold last May for a median sales price of $176,000.
In Flagler County, 24 condos sold last month for a median sales price of $189,950. That includes an $810,000 sale at Portofino Condos in Hammock Dunes.
The 24 condos sold is 3 fewer condos than what sold in June 2014, but it’s also a 5.5% jump in the median sales price. June 2014’s median sales price in Flagler was $180,000.
25 condos sold in Flagler last May for a median sales price of $175,000, according to MLS data. That’s 1 more condo compared to May 2014 and a $27,500 increase in the median sales price.
Copyright 2015 Southern Stone Communications.