Daytona Beach Area June 2010 inventory of all listings in the local multiple listing service is 5256 which is little change from last month.  There is still a large amount of inventory which needs to be absorbed, including many distressed properties. 

In the Daytona Beach residential real estate market there were a total of 118 sales in June 2010. Sales were 98 for June 09. There are 1166 current residential listings on the market.

Sales of existing single-family, attached, and condo homes in June 2010, in the Daytona Beach Multiple Listing Service  was 369 up from 257 June 2009.   The number of sales of condos increased to 103 in June 2010 way from 60 in June 2009.  The condo market still is being driven by low prices of short sales and foreclosures.

On June 25, 2010 newspapers reported mortgage rates fell this week to the lowest level on records dating to 1971, giving consumers added incentive to lock in low payments for home purchases and refinanced loans.

Our local market prices are still falling which makes it a great time to purchase a property.

Even though banks aren’t imposing new restrictions on most loans, they aren’t ready to ease the tough loan standards put in place during the financial crisis. Banks “have yet to unwind the considerable tightening that has occurred over the past two years,” the Fed said. 

Condos sales in Daytona Beach increased to 63 in June 2010 from 39 in June 2009.  The condo market is being driven by low prices of short sales and foreclosures and an over abundance of inventory.
Even though banks aren’t imposing new restrictions on most loans, they aren’t ready to ease the tough loan standards put in place during the financial crisis. Banks “have yet to unwind the considerable tightening that has occurred over the past two years,” the Fed said. 
 

It is STILL a great time to buy if you know where to look, as a real estate expert in the Ormond Beach market, I'm here to help you find a great property at a great price, please contact me today for an up to date market report.

To receive a list of homes in Ormond Beach please specify the property type in the form below. I will do a custom search for you, not all listings are on this website and as a market specialist I preview ALL of the properties for sale.

Daytona Beach is a city in Volusia County, Florida, USA.  The communities that comprise the Daytona Beach area include Ormond-By-The-Sea, Ormond Beach, Daytona Beach, Daytona Beach Shores, Port Orange, Wilbur-By-The-Sea, Ponce Inlet, Holly Hill and South Daytona.

Filled with family-style recreation, attractions and entertainment, the Daytona Beach area offers 23 miles of beaches and plenty of fun.  Daytona Beach is a principal city in the Fun Coast region of the state of Florida. The city is historically known as having one of the few beaches in the world where the hard packed sand allows motorized vehicles to drive on the beach in restricted areas. This hard packed sand made Daytona Beach a mecca for motorsports. Beach racing moved in 1959 to the Daytona International Speedway. The city is also the headquarters for NASCAR and the Grand American Road Racing Association. . Beyond the beach, visitors will find great downtown and oceanfront shopping, dining, museums, historical attractions and nightlife and other entertainment options, plus world-class festivals and events. Daytona Beach is a year-round family-friendly resort area, but could also accurately be called a seasonal town, with large groups of out-of-towners descending upon the city for various events, most notably Speedweeks in early February when over 200,000 NASCAR fans come to attend the season-opening Daytona 500. Other events include the NASCAR Coke Zero 400 race in July, Bike Week in early March, Biketoberfest in mid October and the Turkey Run Car Show in November. Daytona Beach has a population of approximately 64,421. 

Angie Shull Direct: 386-295-9605               The Color of Success!