The most recent numbers released by the Daytona Beach Area Association of Realtors show a real estate market that remains extremely competitive, with the advantage going to home sellers. Rising demand and shrinking inventory mean prices are increasing as well, with a median sale price of $215,000 in May, compared with $199,000 in May of 2016—an 8% increase. Prices are forecast to continue rising, as the current supply of homes for sale county-wide is 3.8 months. Anything lower than 5.5 months is considered a “Seller’s Market”. This means sellers receive more offers for their home quickly, often at or near full asking price. The median percentage of list price received in May was 95.7%, but offers above full asking price are not uncommon. The median time to contract was 37 days, a full 24.5% increase over May of 2016!
This is just a small sampling of the numbers published by DBAAR, but they strongly indicate an excellent market for listing your home! An experienced Realtor® can guide you through a complete market analysis to determine the ideal listing price for your home, proper staging, and market your property to get it sold quickly for top dollar. It’s a great time to sell!
Contact us today for more information about Daytona Beach Real Estate (386) 299-4043.