Daytona Beach Real Estate Market Trend Analysis
We created this chart to cover 16 months to show a better trend line that a few months. The chart shows that Home and Condo sales in Daytona Beach, Florida had been declining from September 2007 through January 2008. January 2008 indicates the bottom in this chart. Since then, unit sales are up 69% for April when compared to January.
Looking at this chart, we see that average prices have been declining, but are a current low for the 16 months. This can be attributed, in large measure, to market strength in the under $200,000 sales price market. In April, 58.5% of all sales were under $200,000 and 82.3% were under $300,000. For a full April analysis go to Daytona Beach Florida Real Estate Market Report April 2008 on my blog.
April was a better month for sales numbers, but one month does not make a trend. However, we are doing much better then the lowpoint of January. We will watch closely to see what happens.
In February, we said, "the next two months will tell the story for the year. If we see the volume of homes sold increase or hold steady, we will probably see a turn-around sooner than later. If the number of units sold declines as a trend, we will probably see a longer turn-around." March and April, with 495 properties sold, have shown more strength than January and February with 386 properties sold. While we need to watch closely, we believe we have hit bottom.
What' Your Next Move in the Daytona Beach Real Estate Market
The trends tell us what has happened, not what is going to happen. There are many opportunities in the Daytona Beach Real Estate Market. There are many foreclosed properties available. Short sale opportunties are numerous. There are also some very motivated sellers. I am aware of many of these opportunities. You won't find them by search the MLS or through any of the real estate search sites. Give me a call to discuss what's availalble and what's best for your situation. You would be surprised at some of the offers that are being accepted.
Notes of the Chart:
The chart shows only those residential transactions throught the Daytona Beach MLS. Homes and Condos are sold through For Sale by Owner and other transactions that are not recorded in the MLS.
Daytona Beach Real Estate
CenterPointe Realty
1445
N Atlantic Ave
Daytona Beach, FL 32118
Daytona Beach Real Estate
