Ormond Beach FL May Real Estate Market Report

Statewide, number of resales increased and median prices decreased during the month of May, compared to May, 2008.

The Florida Assn. of Realtors reported that in the Daytona Beach metropolitan area, existing home sales totaled 653 last month, a 7.6 percent jump from May 2008’s 607. The median home price fell nearly 22 percent, from $174,100 in May 2008 to $136,100 in May 2009.

Condo resales in the Daytona Beach MSA were up 67 percent, from 83 in May 2008 to 139 last month. However, the median home price fell to $191,300, a nearly 21 percent drop from the $241,700 reported in May 2008.

Florida’s existing home sales rose in May for the ninth month in a row, the association reported.

Existing home sales in the Sunshine State rose 15.6 percent last month, from 12,044 homes sold in May 2008 to 13,921 closings last month. The statewide median price for existing homes last month was $144,400, 29 percent down from May 2008’s $203,800. But the statewide median home price in May was higher than each of the previous four months.

In Florida’s year-to-year comparison for condo resales, 4,839 units sold last month, a 21 percent jump from the 3,998 units sold in May 2008. The existing condo median price was down 37.6 percent in May, from $181,700 last year to $113,400 this year.

It's still a very strong buyer's market here with great deals. Search the Ormond Beach MLS and contact me to discuss your opportunities.

Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.ormondbeachflhome.com
www.sherryarmstrong.com

(statistics courtesy of FAR & Orlando Business Journal)