Carlos Ring

Has Daytona Beach Real Estate Prices Bottomed Out?

Thu, May 19, 2011 at 9:45AM

Many people ask if the Daytona Beach real estate market has bottomed out?  When you look at the numbers it is difficult to tell.  Let's face it the numbers fluctuate month to month, sometimes leaving home buyers scratching their heads.  There is much speculation that more foreclosures are being held back and many of the statistics points to the housing market nationally.  Here is what I can tell you about the Daytona Beach - Port Orange - Ponce Inlet Real Estate Market.

  • Each and every month in 2011 so far there has been an increase in the numbers of real estate sales each month.
  • Currently real estate inventory is lower than 2010
  • Still the largest percentage of sales in the Greater Daytona Beach area is under 100k.
  • Homes that were once in the luxury home market are still luxurious but now they compete with short sales, foreclosures and bank owned homes reducing their value but definitely not their quality.
  • Home prices have seem to stabilize for the time being again its speculation.  It's difficult to tell especially with rumors that the banks, lenders and financial institutions are holding foreclosures back due to the time it takes to process them.

Does the state of the real estate market really matter when your ultimate goal is to buy a home in Daytona Beach?  For some yes, as home buyers are finding it difficult to qualify for homes. Investing in real estate, know the facts before your investment blows up in your face. Buying a home to live in, work with a pro and an agent who listens to your needs.  Here is one fact

Real estate in the Greater Daytona Beach area is affordable regardless of whether you are buying a luxury home or condo. Check out the homes below and if you see something you like please contact me.  Any questions about the state of the current real estate market in Daytona Beach, please ask me.  I am always here to help!

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