Daytona Beach Florida Condo Sales Up 52.3% Over Last Year

Sales of Daytona Beach condos are up 295 units over last year through November. So far this year, 859 condos have sold versus 564 for last year during the same period.

For all of 2008, 19.5% of all sales were condo sales. This year, 24% of all sales have been condo sales. This is a little higher percentage than we’ve seen over the past years. Usually, about 1 in 5 or 20% of all sales are condo sales.

Condo Sales Analysis

Sales of condos are tracking a above the increase in total sales. Total sales for the year through November are up 34.2. With condo sales up 52.3%, we can see that condos are selling much better than last year. We attribute this to affordability. Prices have dropped to the point where condos are once again within the budget of many more people.

Currently 492 out of a total of 1226 condos are listed at under $200,000. This is the price range where most houses are selling. In November, 49 of 92 condos sold , or 53.3%,were sold for under $200,000, but only 7 were sold above $500,000. The difference between condos houses sold is significant. 81.7% of all houses sold were sold for under $200,000.

This means that condos are selling at higher prices than houses, but many fewer condos sell. Many of my inquiries are from customers looking for condos on or near the beach. The monthly condo maintenance fees are much easier to accept at current prices than they were a few years ago.

Condo sales are contributing significantly to the increase in Daytona Beach real estate sales with about 1 in 4 properties sold through the Daytona Beach MLS. The increase in condo sales is ahead of the increase in the sale of houses.

You can get more details by reading our November Daytona Beach Real Estate Sales Report.