Central Florida’s real estate market, including Daytona Beach, had seen significant improvement in 2021 and that trend is continuing in 2022, which is great news for homeowners in Daytona. Today we will investigate what is going on and what that means for you as a homeowner in regards to the Daytona Beach FL Housing Market.
Daytona Beach FL Housing Market Trends
In May 2022, Daytona Beach home prices were up 31.1% compared to last year. We have seen across the board in Florida that homes are selling, and they are selling fast. 2022 has seen trends shifting towards a seller’s market, meaning if you have been considering selling your home, now could be the time. Daytona Beach Homes are selling for a median price of around $262K. On average, homes in Daytona Beach sell at around the 34-day mark, in comparison to 50 days last year. So homes are selling and they are selling faster. Now that we have looked at data for Daytona Beach Fl Housing Market, let’s compare this to Florida as a whole to see if there is a trend.
*Data provided by Rockethomes.com
People Are Moving To Florida
According to News Nation Now, data indicates that Florida is in the top 5 states people moved to in 2021 and it was the same for 2020. People are looking to buy homes in Daytona Beach FL and other areas of central Florida.
Home Values In Florida Are Rising Across The Board
Home Prices have increased by almost 30% according to Florida Realtors’ Annual Market Report. So not only is the home value in Daytona Beach increasing, it is happening everywhere in Florida. If you haven’t checked the value of your home lately, now is time.
Florida homes are selling fast
The Annual Market Report also states that Florida homes are selling at almost 30% faster than the previous year. This matches the Daytona Beach FL Housing Market. What this means is that buyers are acting quickly to buy to compete with the influx of people into Florida.
Demand For Buying Homes In Florida
With the demand to buy homes in Florida, home inventory is down. So many people are buying, meaning there are more buyers than there are sellers. There are not enough houses to meet buyers’ demands. This means if you are looking to sell your home you are in luck. This is definitely the time to sell. In concussion, the Daytona Beach FL Housing Market, along with all of Florida, is seeing an increase in home value and demand for Florida homes. If you believe you can benefit from this market then take action. Contact O’Brien Real Estate if you are looking to buy or sell a home in Daytona Beach!