Sales of single family homes in Daytona Beach rose 27% over last May, to 830 from 653. Median sales prices are still declining, to $118,300 from $136,100 last year.
Sales of condos in the Daytona Beach metropolitan sector rose 16%, to 161 from 130 last May. Median sales prices for condos also are still falling, to $114,400 in May, down from $191,300 last year.
According to the latest housing data released by the Florida Association of Realtors, sales of existing homes in Florida rose 18% in May, marking 21 months that sales activity has increased in the year-to-year comparison.
Seventeen of Florida's metropolitan statistical areas (MSAs) reported higher existing home and existing condo sales in May. A majority of the state's MSAs have reported increased sales for 23 consecutive months.
Florida's median sales price for existing homes last month was $140,400; a year ago, it was $143,800 for a decrease of 2%.
In Florida's year-to-year comparison for condos, 6,779 units sold statewide last month compared to 4,845 units in May 2009 for an increase of 40%. The statewide existing condo median sales price last month was $98,700; in May 2009 it was $113,500 for a 13% decrease.
According to NAR's latest industry outlook, factors such as a return of buyer confidence, stabilizing home prices and an improving economy are supporting the market in the federal homebuyer tax credit's wake. "The housing market has to get back on its own feet," said NAR Chief Economist Lawrence Yun, "and now appears to be in a good position to return to sustainable levels even without government stimulus, provided the economy continues to add jobs."
Contact me for details on real estate sales in any Daytona Beach community. Don't miss this continued Buyer's Opportunity.
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