Daytona Beach Real Estate Weekly Market Report

 

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Daytona Beach Homes Market Report
May 5, 2008

This is the second of weekly market reports for real estate in Daytona Beach, Florida. We just completed updating our Daytona Beach Real Estate Market Trends and our Daytona Beach Real Estate Market Report April 2008 from our blog.

If you want to read last week's report it's here - Daytona Beach Homes Market Report
April 28, 2008.

The following information is presented to give you a quick idea of the current state of the Daytona Beach Home and Condo market including homes sold, home inventory, mortgage rates and real estate news of note. Longer Term analysis can be found at our Daytona Beach Real Estate Market Analysis. The market report includes Daytona Beach, Ormond Beach Real Estate, Holly Hill Real Estate, South Daytona Real Estate, Ponce Inlet, Wilbur by the Sea, and Ormond by the Sea.

Weekly Homes Sold Report

This Week Homes Sold Report

Period Homes Sold
Last Week (April 21-27) 55
Last Month (March 21-27) 45
Last Year (April 21-27, 2007) 71

Month To Date Homes Sold Report (For the full numbers for April see Daytona Beach Real Estate Market Report April 2008)

Period Homes Sold
This Month (April 1-28) 229
Last Month (March 1-28) 190
Last Year (April 1-28, 2007) 227

Year to Date Daytona Beach Homes

Period Homes Sold
This Year (January - April 28, 2008) 833
Last Year (January - April 28, 2007) 990

(Note: homes sold is delayed one week to account for delays in entering information after a sale)

Homes Sold Analysis

April was a much better month than March with sales up 27%. January was our low month with only 164 units sold and the total of 277 residential homes and condos sold in April is an 69% improvement. That's pretty impressive and we will be watching closely to see if this trend continues.

Current Mortgage Rates

 

Today

Last Week
30 YR Fixed

5.77%

5.87%
15 YR Fixed

5.35%

5..47%
5/1 ARM

5.39%

5.65%
30 YR Fixed Jumbo

7.07%

7.22%
5/1 Jumbo Arm

6.27%

6.53%

Note: Jumbo Limit for the Daytona Beach area is $417,000.  Source: BankRate.com

Home Inventory Numbers

Period

Residential Inventory
This Week 6216
Last Week 6339
Beginning of 2008 7,000

We've now seen a full 10% drop since the beginning of the year in inventory. This is a good sign. Watch this number carefully. More decline signal more market strength.

Recent Real Estate News of Note

Bypass Real Estate Agents and Save?
Read this before you decide to buy or sell your home without a real estate agent.

If you have other information you would like to see as part of the Daytona Beach Real Estate Market weekly report, please send me a message and let me know.


CenterPointe Realty
1445 N Atlantic Ave
Daytona Beach, FL 32118