Daytona Beach Real Estate

It’s very odd, but a tourist who comes to Daytona Beach for a one week vacation, will spend more time on the beach than a year round resident. I live on the mainland, but I sell real estate in Daytona Beach and manage property beachside, so I’m beachside most days.

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Oceanfront Daytona Beach Condos and Homes - Watch the Maintenance Costs
Living on the beach in Florida is great. It’s a pleasure to get up in the morning and take a walk on the beach, or enjoy your first cup of coffee watching the waves breaking and birds and people. Sunset walks are my favorite. It always [...]

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After two months of significant gains, it looks like sales of Daytona Beach Homes will fall in June. At this point, we are 28.3% behind the May pace. What does this mean?

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If you’ve seen some of our recent posts, you know that we are as concerned about interest rates on home loans as we are price stability. There is just so much inflationary pressure in this economy that we see long term interest rates increasing to provide a hedge against that inflation.

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Over the past few days, we’ve seen a few articles that are saying that the bottom of the recent big price drops may have been reached. We also see that the median price of Daytona Beach Homes has jumped from $175,000 in May to $189,000 this month. That’s a fairly big increase, but we are not ready to call the bottom of the market. Here’s why:

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Mortgages rates are up 1/2% over the past two weeks. This is not good news for people in the market for Daytona Beach Homes or condos. The 30 year fixed conventional mortgage rate was at 5.8% two weeks ago. The rate today is 6.3%.

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Where to eat in Daytona Beach - When You Just Don’t Want A Chain
What do good restaurants have to do with Daytona Beach Homes for sale? Well, to me it’s very important. When looking at property, a good meal can be a good break. And after a day of looking at Daytona Beach and Ormond [...]

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How Do Florida Foreclosures Impact Daytona Beach Real Estate?
It’s prices not foreclosures hurting the Daytona Beach Homes market.
Foreclosures in Florida continue to headline news stories, and nationwide over 1,000,000 homes are in foreclosure. Daytona Beach Homes have been impacted, but not nearly as much as other areas in Florida.
Here are some of the numbers for [...]

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Sales of Daytona Beach Homes and condos for June are lagging behind the first week of May by 13 properties (41 vs. 54). We don’t find this alarming, but, we will watch the coming weeks with interest.

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Mortgage rates moved up about 3.5% over the last week from 5.8% to 5.99%. If you are in the market for a new home or condo, or considering a purchase in the near future, you should be paying attention to the rates.

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