DAYTONA REAL ESTATE INVESTMENT NEWS - Treasure Chest March 1, 2019
Daytona Beach, Florida
5 Years of Sustainability
Daytona Beach, Florida, Realtor News reports that Median Home Prices are Up +19.1% at $297,252 in January 2019 compared to January 2018 or about $60,000; compared to May 2018 when the Median Price was $227,250.
The current Daytona real estate market is yielding to Sellers approximately 95.2% of the Listed asking Price. It is generally taking 39 days for a Condo/Townhome and 65 days for a Home to get into a Sales Contract and about 72 to cose a Condo Townhome and about106 days for a Home, to Close the Sale. Home Inventory "turnover" in Daytona Beach and Daytona Shores is estimated at approximately 4 months. Sales numbers are down -11.1% for 2019
The Median Price for a Condo and or Town Home Sales were up at 10.6%, $212,934 compared to January 2018 that had a Median Condo Value of $192,468.
Currently the Condo Townhouse market, Average Condo Price, is +3.8% or up +$7,928 over July 2017. Condos are receiving about 95.2% of the Listed Price as the current real estate value. Taytona Beach has demonstrated stable position in 2018 and the preceding 5 years of double digit growth.
Most recent data from July 2018 indicates that USA Home resale housing market is Down (-0.49%) compared to Daytona Beach, Florida Home and Condo real estate sales that is ranging between +3.0% to +7.0% average increased value in 2019 from a year ago.
Nationally the resale housing market in a good economy would be between 5% and 7.5% that is the normal growth benchmark established over decades of sustainability. e-RETV News e-RETV.News9-1-2018 Data Courtesy of Daytona Beach Area Association Of Realtors
National and Daytona Statistical Update as as of March 1, 2019
Daytona Beach Florida Real Estate Market Prices Home Prices Up as of 2-1-2019 $297,252 Condo and Town Home Prices Up $212,934
DAYTONA BEACH "THE MOST FAMOUS BEACH IN THE WORLD" as of August 1, 2018
The Average Three Bedroom Home is up $18,049 and Condo Town Homes are up $7,946 over Sale Prices a year ago.
The Daytona Beach Area Association of Realtors MLS, for Daytona Beach Florida, indicate that living in paradise has never been as affordable with real estate appreciation in the area since 2012.
The Median Price is the middle point of all Sales in the period. Quarterly results posted are: A Daytona Home For Sale, Median Price for July 2018 was $223,500 Up +3.5% from the January 2018 Median Home Value of $215,000.
Closed Home Sales are Down -0.9% for July 2018 compared to July 2017.
A 2 Bedroom Condo or Town Home Median Sale Price in July 2018 is $175,000., up from January 2018 value of $163,125 or+$11,875. in equity.
A Buyer could purchase a Daytona Beach Median Priced 3 Bedroom Home for $215,450. in July 2017. Today, the July 2018 price of that same home value is estimated at $223,500.
September 2018 prices are reflected in the sales data for Daytona and Daytona Beach. There is some indication that prices will continue to rise in single digits through the end of 2018.
Realtor estimates and statistics indicate that home Closed Sales Prices have been moving up slowly since January 2018 when compared to preceeding years. National Home Sales have decreased in price overall and in all probability due to the continuing interest rate hikes. The Federal Reserve Board has consistently increased interest rates since December 2016 thru June 2018. The real estate market has leveled out to a less than -0 growth factor due to these increses by the FED.
Daytona and Daytona Beach and Volusia County including the adjoining communities of Ormond Beach, Deland, Palm Coast, Palm Bay and Jacksonville. Daytona's, Sea Breeze Holly Hill, Daytona State College and South Daytona all posted excellent appreciation results reaching a year end high of + % for the 2017 for Homes and Condos and Townhomes.
It appears that Daytona will again have appreciation but in 2018 it will probably be in a single digit annually.
DAYTONA BEACH HOT SPOTNEWS 5 YEARS OF CONTINUED APPRECIATION June 12, 2018
Daytona Shores is also showing a similar and higher appreciation rate on closed sales with the Average Listing Price of about $392,000 To $572,000 and up in the last 3 months. The current Average Sales Price is extimated at $392,000.as of July 2018. Most of the sales consist of Condo's and Townhomes and several Homes all that have been selling in the upper price range. Sales Price Values 3 months ago were estimated at $572,000. as higher end homes were selling in the Shores area. The actual value change today from 3 months ago is only -1.9%. MLS Sales of Homes for the Daytona Shores area is reporting single digit appreciation for 2018.
For the years 2016, 2015 and 2014 Daytona's Volusia County Home Sales has experienced a stable annual appreciation average of approximately 11.00% according to MLS data. Today we are looking at approximately a 9.0%+ or - annual appreciation factor for Daytona Shores subject to location and size.
Daytona Beach Area Association of Realtors and MLS reports for July 2018: A Home Sale Median Marketing Time is approximately 41 days to Contract and 81 days to Close of Escrow at 95.8% of the Listing Price, totaling an average of about 4.0 months to sell your home. Inventory of properties today is up 10.5% over July 2017.
Daytona Closed Sales of Condo's and Townhouse Sales are Down -0.9% from a year ago.
Homes in all price ranges are selling, so prices and appreciation figures are level or up in Daytona and Daytona and Beach.
The January thru July 2018 Year to Date As of July 2018-Listings 8,123 2017 7,597 Sales Under Contract 5,661 2017 5,701 Sales Closed 4,681 2017 4,619