Daytona Home Sales Trends
Daytona Home Prices Continue to Stabilize
The average price per square foot for single family homes in Daytona Beach continues to be almost completely flat for yet another month. This defies the national average which, to all reports, continues to decline.
In addition, the number of sales shows the typical seasonality over the previous year with a peak season in Spring and Summer and a slight bump in December. As we approach the busy season, all Daytona Real Estate Agents are feeling the crunch as activity is on the rise.
A month over month comparison shows the in February of 2010 sales prices on average were $81.99 per square foot and moved an infinitely small amount to $82.22 in February 2011. Likewise, the number of transactions change from 154 to 145. A very small change change between the same month comparison.
Home Prices Stable Including Distressed Sales
DBAAR Single Family Distressed vs. Regular Sales 2-2010 to 2-2011
Most interestingly, prices seem to have stabalized for the time being across all types of sales. Distressed sales are still less expensive than traditional sales with Bank Owned/REO properties being the least expensive. Regardless, none of the three categories seems to have had a substantial deviation.
On a per square foot basis comparing February 2010 to February 2011:
Bank Owned/REO has shifted in price from $66.80 to $58.30.
Short Sales have changed from $81.26 to $76.49
Traditional sales have increased from $92.12 to $98.18
As stated above, overall prices of single family homes have actually very slightly increased from $81.99 to $82.22
Daytona Beach Area Association of Realtors Multiple Listing Service (MLS)
This data is taken from the Daytona Beach Area Association of Realtors Multiple Listing Service and is limited to the cities primarily served by that board: Ormond Beach, Ormond By The Sea, Daytona Beach, Holly Hill, South Daytona, Port Orange, Daytona Beach Shores, Wilbur By The Sea, and Ponce Inlet. Cities serviced by other boards are excluded from this analysis as they would be incomplete pictures of the area’s results.
