Daytona Beach Home and Condo Sales Beat April Results

The May Daytona Beach Homes sales preliminary numbers are in and at 280 units, we beat April results by 1%, or 3 units. This may not seem like much, but, we held the gains of April over March of 27%. May sales were 71% higher than January. We may also see a few additional sales entered into the MLS today or tomorrow.

I won’t go so far as to say that the market is strong, but this is the highest sales month since June 2007 (289) which was the highest sales month of last year. So, worst case, we are no longer declining and are almost 17% above the 12 month average of 240 properties per month.

More good news shows that Daytona Beach home inventories dropped by 108 units, and with the sales level of 280 properties and an inventory of 6165 homes and condos on the market, we are at 22 weeks of inventory. Inventories have dropped 12% since the beginning of the year. So, with the increase in sales of 70% and reduction in inventory of 12%, we have dropped from 43 months of inventory to 22. This is still high, and we’re still in buyer’s market, but any improvement is welcome.

So overall, for May, we held the ground that we gained in April. See the full weekly report at Daytona Beach Real Estate Weekly Report on my website. Our monthly analysis for May will be complete in a few days. Check back then for more.

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