Daytona Beach, FL – For the 3rd time in 4 months, condo and condotel prices in the Daytona Beach area take a big drop.
The latest report from the Multiple Listing Service shows median sales prices fell by $18,000 in September 2015 compared to September 2014 even though there was more sales last month (116) than in the same month a year ago (115).
Ron Wysocarski – leader of the Wyse Condo & Home Team at Keller Williams Realty in Port Orange – says that’s a trend that’s becoming nationwide even though the National Association of Realtors reports that the condo market remains “strong and healthy” entering the final quarter of the year.
“After months of the market steaming forward in the sellers’ favor, a collective pause is happening as inventory catches up,” Wysocarski added. “It’s giving buyers a break from the intense competition of recent months’ fast-paced sales, offering them a better chance of landing a deal and better conditions for negotiating.”
The median sales price for condos in the Daytona Beach area last month was $162,000. It was $180,000 in September 2014.
108 condos sold in the Daytona Beach area last month with a median price of $165,250, while 8 condotels sold with a median price of $39,950.
5 of the condos that sold went for over $500,000, with the highest selling for $750,000 at Aliki Forum in Daytona Beach. 2 other condos at Aliki Tower in Daytona Beach sold for $700,000 and $640,000, respectively.
The other 2 sales for over $500,000 were at Ocean Vistas ($649,500) and Bella Vista ($557,500). Both are in Daytona Beach Shores.
So far in 2015, 1050 condos and condotels have sold locally with a median sales price of $165,000. That’s 55 more than at the same point in 2014, with the median sales price also higher by $8,000, per MLS.
Copyright 2015 Southern Stone Communications.