Sales Skyrocket As Inventory Levels Continue To Fall

Daytona Beach, FL - A new report from local realtors says Daytona Beach home sales skyrocketed throughout November, even as inventory levels continued a sharp decline. The report from Wyse Home Team Realty says the Daytona Beach Multiple Listing Service (MLS) recorded 438 single-family home sales with a median price at $270,128—more than 20 percent higher than sales reported in November 2019. This came even as October’s already diminished inventory dropped another 9  percent, which continues a falling trend local realtors like Ron Wysocarski—broker and CEO of Wyse Home Team Realty—have been following for the past few months. “Inventory levels fell harder than usual this year as we headed into the holiday season,” said Wysocarski. “The fact so many homebuyers found a deal to close when there were so few homes to choose from is a testament to the intensity of buyer demand right now.” MLS reports further indicate that the number of homes available was 36 percent lower than the number of homes available in November 2019. Year to date, 10 percent fewer homes have hit the market than were listed during the first 11 months of 2019. On the inverse, home sales are up by over 4.5 percent, compared to the first 11 months of 2019. The median sales price for the same period was also up by more than 7.5 percent over 2019. Further analysis by Wyse Home Team Realty found that the most homes sold in Ormond Beach, which saw 123 sales, followed by New Smyrna Beach at 71, Port Orange at 67, Mainland Daytona at 61 sales, and the Beachside area—which encompasses everything from Ormond-By-The-Sea to Ponce Inlet—with 53 sales. Despite lower sales than Ormond Beach, New Smyrna Beach had the highest median sales price at $399,500.