Daytona Beach Real Estate Sales March 2009
Preliminary Report
Daytona Beach real estate sales were up 31.5% in March 2009 over March of the previous year. Preliminary numbers show Daytona Beach MLS sales at 288 homes and condos vs. 219 properties sold last year.
Trends Remain the Same
Sales by price did not change from previous months:
- Under $100,000 - 33.3% (96)
- $100,000 to $200,000 - 42.4% (122)
- $200,000 to $300,000 - 14.6% (42)
- Over $300,000 - 9.7% (28)
These are preliminary numbers, but they won’t change signficantly. The average home price sold was $159,815 and the median price was $133,500. In February we saw average sold price of $166,845 and a median price of $127,500. Median means one-half of properties sold under the median and one-half above.
Year to Date Sales Up 23%
Sales of Daytona Beach homes and condos are up year to date over 2008 by 140 properties or 23%. Year to date 748 homes and condos sold vs. 608 for the same period last year.
This is all positive news for the Daytona Beach market. Months of inventory has decreased to just over 19 months. At the end of December, we were at 25 months. That’s a significant drop, but still far away from a stable market.
Interest rates are low, there’s an $8,000 tax credit for first time home buyers, and prices have dropped. How long interest rates and prices will remain low is uncertain, and the tax credit expires on December 1. There are even Ormond Beach Condos for sale under $100,000. It looks like we are in window of great opportunity that we may not see again for a long time. If you are interested in homes in our area, call me at 386-566-7503 to discuss your options.
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