Daytona Beach Home Sales Down About 8% for October 2008

Sales in October for Daytona Beach real estate fell from September numbers. As of tonight, 213 Daytona Beach Homes and condos were sold through the MLS. These are preliminary numbers and a few more sales should be recorded over the next few days.

The 213 number is 8.2% lower than September and takes us back below the 221 sales recorded in February. We have seen a cooling off from the peak sales of 299 condos and homes sold in July.

We expected sales to sputter while credit is tight and the economic news is bad. Many people are spooked, but not all. I had three sales close in October, which is very good in the market. These people were patient and we spend a lot of time to find the right property for them.

68% of homes and condos in Daytona Beach sold for under $200,000 and 85% sold for under $300,000. These are close to the numbers that we’ve seen all year, with a slight increase in percentage of homes sold under $200,000.

I’m amazed at the values available in the market. Short sales and foreclosure sales allow you to get properties at great prices. Of course, it takes time and patience, but many people are benefiting from the current market conditions. There’s still time and if you’re looking to time the market bottom, check back here often for news, analysis and updates. You can call me anytime to discuss the market and your needs. Just call 386-295-2049. If I’m busy, I’ll get back to you quickly.