Inventory Report for Daytona Beach Homes and Condos
We are establishing this new monthly report to analyze the details of Daytona homes and condos inventory on the market in the Daytona Beach MLS. The inventory numbers are shown in total by price range and the broken down by houses and condos.
Total August Daytona Beach Real Estate Sales
|
Price Range |
Number Sold |
Percentage of Total |
| Less than $100,000 |
53 |
19.1% |
| $100,000 – $199,999 |
127 |
45.8% |
| $200,000 – $299,999 |
46 |
16.6% |
| $300,000 – $399,999 |
25 |
9.0% |
| $400,000 – $999,999 |
24 |
8.7 |
| Overs $1,000,000 |
2 |
<1.0% |
Total Daytona Beach House and Condo Inventory
|
Price Range |
Inventory |
August Sales |
Inventory in Months |
| Less than $100,000 | 487 | 53 | 9.4 |
| $100,000 – $199,999 | 2059 | 127 | 16.2 |
| $200,000 – $299,999 | 1337 | 46 | 29.1 |
| $300,000 – $399,999 | 691 | 25 | 27.4 |
| $400,000 – $999,999 | 1221 | 24 | 46.7 |
| Overs $1,000,000 | 226 | 2 | 113 |
As of today, September 9, there are 5986 houses and condos listed in the Daytona Beach MLS. Based on 277 sales in August, the current inventory is 21.6 months. This is obviously a buyers market overall. However, look at homes priced under $200,000 and we see the average for those price ranges are below overall average. Above $200,000 and the months of inventory jump significantly. Under $200,000 is much stronger than above that number.
Daytona Beach House Inventory
|
Price Range |
Inventory |
August Sales |
Inventory in Months |
| Less than $100,000 | 267 | 39 | 6.8 |
| $100,000 – $199,999 | 1540 | 110 | 14 |
| $200,000 – $299,999 | 995 | 31 | 32.1 |
| $300,000 – $399,999 | 472 | 20 | 23.6 |
| $400,000 – $999,999 | 588 | 12 | 49 |
| Overs $1,000,000 | 191 | 2 | 95.5 |
There are 4053 houses on the market. 214 houses were sold in August for an average of 18.9 months of inventory. The houses number is lower than the overall combined house and condo average meaning that there is less inventory in months for houses than condos. Again, the under $200,000 market is the lowest price range in terms of average inventory in months.
Daytona Beach Condo Inventory
|
Price Range |
Inventory |
August Sales |
Inventory in Months |
| Less than $100,000 | 230 | 14 | 16.5 |
| $100,000 – $199,999 | 519 | 17 | 30.5 |
| $200,000 – $299,999 | 342 | 15 | 22.8 |
| $300,000 – $399,999 | 219 | 5 | 43.8 |
| $400,000 – $999,999 | 588 | 12 | 49 |
| Overs $1,000,000 | 35 | 0 | Infinite |
There are 1933 Daytona Beach condos on the market. 63 condos were sold in August for an average of 30.7 months of inventory. Condos are not selling at the same rate as houses with approximately 1 condo sold for every 4+ houses. At an overall average 30.7 months of inventory, condos are over 62% higher than houses in average inventory in months. Condos listed at $300,000 are not selling well with only 27% of sales, but 44% of inventory.
Summary
Daytona Beach real estate Inventory has been high and remains so. We have barely moved in inventory for months, remaining at about 6,000 properties on the market. There were about 7,000 properties on the market at the beginning of the year, so we’ve dropped about 14% since January 1. But, again, we haven’t seen any drop in months.
We are in a buyer’s market at all price ranges, but less so in the lower price ranges. This is what we have been seeing for the entire year, with sales under $200,000 ranging from 55% to almost 65%, of all sales.
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