Daytona Beach Sales Up Big in March 2010

Sales of homes and condos in Daytona Beach continue their steep climb over both March last year and last month. 393 homes and condos were sold last month against 282 sold last March – an increase of 34.9%. Sales were up 23.6% over last month when 318 homes were sold. The number reported are from the Daytona Beach MLS.

Take a look at the chart and we can see that sales by price range remains consistent with the past two years.

Sales under $200,000 were 75.1% in March, down from 80.5% in February, but consistent with the ranges we have seen recently. This is where the market is strongest. Many of the foreclosed and short sale homes are in this price range and this is where buyers are most active. Sales in the $200,000 to $300,000 price range were stronger this month at 13.2%, up over last month when we saw 11.6%.

We are looking for an increase in the higher price range to show a market shift. That just has not been there in the past two years. When homes sold at over $300,000 begin to increase in numbers and as a percentage of sales that will indicate stabilization in those price ranges. Until then, inventory will remain high.

We have four listings over $499,000 and we’ve sold properties in the higher price ranges, but most of our sales and total market sales are in the lower price ranges.

If you have questions about the market, please give me a call at 386-566-7503. We can talk about specific properties or discuss the market in general.

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