July Daytona Beach Home Sales Ahead of June Pace

At this point in June, 107 homes and condos had been sold. For July, that number is at 131 properties as of this morning. I’m not going to read anything into this because we are below the May pace of 151 properties at the same point in the month. June sales were 259 properties and May were at 286. It appears that we are on pace for somewhere in that range.

I’m not sure what the IndyMac failure and the recent inflation reports will do to the market, or even if it will have any affect at all. Maybe buyers have already discounted inflation and the reports of a weak economy and job losses. People tend to know these things and adjust for them long before a government report is issued. At this point, I think most people are trusting their personal situation above what they read in the news or see on television.

The median price so far this month is at $190,000 which is above the value for May and June of $175,000, but, last month at this time, we were also at $190,000 and finished at $175,000.

To summarize, we are holding steady. Sales rates and values are showing in favorable ranges. There’s no big improvement, but holding steady is good for now.

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