Daytona Beach, FL -- (SBWIRE) -- 01/17/2014 -- Oceanfront condominiums for sale make up a large portion of the residential condo market in Daytona Beach, Ponce Inlet, Ormond Beach, and Palm Coast, Florida. Riverfront condos makeup a slightly smaller share of the same market, but when considered along with oceanfront condos and measured by year to year sales, figures have show indictions of strong growth over the past two years. The following data, courtesy of the Daytona Beach Area MLS, offers supporting sale figures that further reinforce what could be much needed rebound for the Daytona Beach area oceanfront condo market.
According to the Daytona Beach MLS Market Activity Report for 2013 and 2012, average days on the market for condo sales decreased in 2013 from 2012 by 6.2% or 9 fewer days. Distinguished Homes Realty attributes these number to rising buyer interest resulting from record low mortgage rates, modest returns found from fixed income securities, and recent strength shown in the US Stock Market. Condo sales for 2013 measured on a monthly basis also showed slight increases in unit sales of 4.5% over 2012 These sales figure further support reports from Distinguished Homes Realty's that a possible rebound in the waterfront condo market may be underway!
Christopher Connors, condominium specialist with Distinguished Homes Realty, warns that a push back from the real estate market should be expected at some point as growing buyer demand reduces available condo inventory and strengthens seller's confidence. Connors say indications of a mild “push back” may be seen with the comparison in condo sale price to listing price change from 2013 and 2012. Supporting data from the Daytona Beach MLS Market Activity Report shows the average condo sale to list price climb to 94% in 2013, which is up 2% from the 92% reported in 2012. As partner with the Distinguished Homes Team and a well respected sale agents in the oceanfront condo market, Connors and partner Bob Bagdon are not warning of significant future increases in condo pricing. More sellers believe that the market is stronger too, so they are now listing units they they’ve held back because of price weakness. The result is supply and demand remain fairly stable with a slight firming of price and increase in unit sales. Still, f you are thinking of buying or selling, please have a licensed Realtor provide you with a comparative analysis before drawing any pricing conclusions.
About Distinguished Homes Realty
Distinguished Homes Realty offers exclusive client resources for oceanfront buyers and sellers to ensure every purchase and sale is made with care and diligence. Distinguished Homes Realty is open seven days a week and provides a Luxury Realtor Team for clients rather than a single agent. In addition to Distinguished Homes Realty's top rate service, the company also leads the way in technology based marketing, luxury sales, and area knowledge. For more information on luxury oceanfront condos for sale in Daytona Beach, Florida clients should visit www.DistinguishedHomesRealty.com