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.