Daytona Beach Homes Months of Inventory Cut in Half

By
Real Estate Agent with 1st Florida Realty LLC

We constantly analyze the Daytona Beach homes market looking for trends of use to everyone interested in our market. While putting together this week's Daytona Beach Homes Market Report, we found a really surprising bit of information.

The inventory of homes and condos for sale in Daytona Beach, using the Daytona Beach MLS data, shows that months of inventory on the market fell by nearly 1/2 since January of this year.

Here's what happened. Daytona Beach Property on the market at the beginning of the year was just under 7,000 properties. Sales were 164 homes and condos sold. In April, there were about 6300 properties on the market, but sales were 277 properites. The combination of a 10% reduction in properties on the market and a 79% in sales from January to April, dropped the inventory from about 43 months to about 22 months.

The months of inventory for condos is just over 30 months and for houses just under 20 months. There are a lot more homes on the market, 4200 homes vs, 1750 condos (just over 300 condotels take us to near 6300).

May to date is very close to the sales rate for April, so we are holding at this rate for a couple of months. We'll continue to pour through the numbers and update our findings.

Comments (4)

Donna Marie Godfrey
Godfrey Properties - Pottstown, PA

Lots of choices....why isn't everyone buying?

May 21, 2008 01:39 PM
Midori Miller
Talk 2 Midori, LLC - Daytona Beach, FL
Online Marketing For Real Estate Professionals

Lynn-Excellent market report! You are a great representation of our area. :)

May 21, 2008 01:45 PM
Esko Kiuru
Bethesda, MD

Lynn,

Looks like your market is making nice headway with the inventory numbers dropping. Las Vegas inventory is still pretty level, but MLS sales have increased quite a bit, so we are hopeful.

May 21, 2008 02:19 PM
Jason Pastucha
Realtywnc.com - Keller Williams Asheville - Asheville, NC

Thanks for the report on the Daytona Beach market.  I like to compare the Florida markets for trends.  Jason Pastucha

Aug 02, 2008 04:49 AM