Daytona Residential Resales Update September 2010

Residential resales in Volusia and Flagler counties took a slight hit following the summer expiration of the federal homebuyer tax credits. Area sales have tapered off but are stablizing with median sales prices down 12% from a year ago.

"A housing recovery is taking place, but will be choppy at times depending on the duration and impact of a foreclosure moratorium,' said Lawrence Yun, NAR chief economist. 'But the overall direction should be a gradual rising trend in home sales, with buyers responding to historically low mortgage interest rates and very favorable affordability conditions."

Residential Homes Sales Not Including Condo Resales - September 2010

3416 active residential listings for sale in Greater Daytona Beach Area
211 Single family homes under contract this month waiting to close
302 single family homes closed this month between 9/1/2010 and 9/30/2010-SOLD
$42,944,258 total dollar volume from single family homes SOLD
$142,199 average sales price for single family homes
Absorption Rate - 9.0
Highest residential Sale - $1,240,000 estate in Broadwater in Ormond Beach (DOM 92)

*DOM - alternatively Active Days on Market, is a real estate term used to describe the age of a real estate listing. Typically, properties with a large DOM will command lower prices than a property with few DOMs because buyers perceive the property as over priced or less desirable.

This is a fantastic time for those who can buy Daytona Beach homes and Daytona Beach condos. Buyers definitely have an edge on sellers for now. Housing affordability has improved due to low interest rates and affordable home prices.

If you have any questions about Daytona Beach condos, Ponce Inlet condos, Daytona Beach Shores condos for sale, or information about Daytona Beach Real Estate give our Port Orange Real Estate Team a call at 386-316-5968 or 386-316-5967.

Tell us what you're looking for and our Daytona real estate experts will search the Daytona Beach MLS and send you detailed information on homes and condos that meet your criteria.

-- Information from The Daytona Beach News Journal was used in this blogpost.

  Posted by Mike Gagliardi on


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