First Half 2009 Daytona Beach Home Sales Up
1735 Daytona Beach homes and condos were sold in the first half of this year. That’s up from 1433 in the first half of 2008’s for a 21% improvement. What’s interesting is to see where the sales are coming from.
Looking at the table below, we can see that over 73% of all sales were under $200,000. This continues the trend that we saw over all of 2008. Sales of high-end homes in the area, above $500,000 are still languishing at about 4%.
| Total Sales | Under $100K | $100-200K | $200-300K | $300-500K | Over $500K | |
| Jan |
212 |
28% |
40% |
20% |
8% |
3% |
| Feb |
251 |
36% |
38% |
16% |
5% |
5% |
| March |
289 |
33% |
42% |
15% |
8% |
2% |
| April |
311 |
34% |
40% |
12% |
11% |
3% |
| May |
343 |
31% |
40% |
15% |
11% |
4% |
| June |
329 |
30% |
44% |
13% |
8% |
4% |
| Average |
289 |
32% |
41% |
15% |
8% |
4% |
As of this morning, 366 sales were recorded in July in the Daytona Beach MLS. That number will go up as agents add all of the sales from the end of the month on Friday.
So sales are up 21%, and the trend continues with sales stronger at the lower end of the market. We don’t see this changing anytime in the near future. Buyers are taking advantage of the values at the lower end of the market. Foreclosures and short sales are offering tremendous bargains to patient buyers, especially for short sales that can take months to conclude.
But, Buyer Beware. Just because a house or condo appears to be a great bargain, you still need to buy with a eye to future sales. In that respect, all properties are not created equal. When values do rise again, and they will, some areas will rise faster than others. Buy smart now, for the highest appreciation in the future.
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