Daytona Beach Real Estate Blog

Daytona Beach Homes for Sale trends are on a positive note since January of this year. Residential sales of homes and condos improve from 164 properties sold in January to 277 properties sold in April.

So what’s going on? Well, before the speculative bubble began, we were selling about 500-600 homes a month in the Daytona Beach Market. This market includes Ormond Beach Real Estate, Port Orange Real Estate and the communities of South Daytona, Holly Hill, Ponce Inlet, Wilbur by the Sea and Ormond by the Sea. We consider that to be the “normal” level of sales.

The market is in a jumble now because of the speculation fueled by easy money and the subsequent bubble burst. During the height of the speculative frenzy, we were selling over 1,000 homes and condos per month. That is well above what the Daytona Beach market can support.

So, now we’ve swung to the other side, where sales are depressed because of the excess of speculation and the fear that home value will continue to erode. Balancing the fear of erosion is the concern that buyers may miss the bottom of the market and the best values for many years to come.

Our analysis shows improved sales that we believe are fueled party by sales of distressed properties and more people believing that the bottom is approaching.

If you are considering purchasing a home for any reason, keep your eye on trends and reports. You can view full evaluation at Daytona Beach Homes for Sale Market Analysis on my main website.