Daytona Beach, FL – A strong finish caps off a banner year for condominium sales in the Daytona Beach area.
1,351 condos and condotels sold locally in 2015 for a median sales price of $167,000. That’s 76 more than the 1,275 that sold in 2014, adding up to a near 6% increase.
The median sales price also rose by $7,600 – or 4.76% – compared to the $159,400 posted for 2014.
Ron Wysocarski – Chief Executive Officer of The Wyse Home Team at Keller Williams Realty in Port Orange – says December 2015 sales increased by more than 12% locally compared to the December prior, helping to create that strong finish.
“We ended the year on a high note, with steady growth in sales and prices overall having been the story for most of 2015,” Wysocarski added.
106 condos and condotels sold last month for a median sales price of $182,750. 94 sold in December 2014 for a median sales price of $180,000.
Of the 106 that sold in December, 88 were condos that went for a median price of $200,000. The remaining 18 were condotels that sold for a median price of $48,900.
The strong December offset a slower than expected November, when 76 condos and condotels sold for a median sales price of $162,750. That was 8 fewer than the number sold in November 2014, but the median sales price for last November did go up by $1,250 compared to the November prior.
2016 is expected to be a steady year for sales and price increases in the Daytona Beach condo market, but Wysocarski says it’s hard to predict exactly how things will shake out.
“We expect there will be regional and geographical variations in how those predictions play out,” Wysocarski noted. “Changes in interest rates, lending markets and the political climate could also affect things in 2016.”
The largest condo sale in December went for $750,000 at the Ocean Vistas Condos in Daytona Beach Shores. A condo at Towers Grande Condos in Daytona Beach Shores sold for $627,500 and another at the St. Maarten Condos in Daytona Beach Shores went for $545,000.
Copyright 2016 Southern Stone Communications.