Ormond Beach Real Estate

Local home-sales market bucks statewide trend

 

Home sales rose 6 percent across the Volusia-Flagler area in December compared to a year ago, even as sales statewide fell, ending the local housing market's year of transition on a high note.

Realtors in Volusia and Flagler counties sold 764 existing single-family homes in December -- the most sold in a single month in the two-county area since July, when 766 were sold, the Florida Realtors association reported Friday. However, the median price of homes sold remains lower than a year ago.

The association does not track sales of new homes.

December marks the sixth consecutive month that the number of homes sold in the combined Volusia-Flagler area were up compared to the same month the previous year.

"I think we're in a good little pocket here," said Travous Dever, a sales agent with The Keyes Company and president of the New Smyrna Beach Board of Realtors. "We're starting the new year with good news. We're busy, people are here looking and buying and the prices are reasonable. All combined, people are getting a great value."

While home sales have continued to climb locally, sales of existing homes for the state as a whole last month declined 2 percent, compared with the number sold in December 2010.

In the Volusia-Flagler area, Flagler County Realtors say they led the regional increase. Their records show them selling 161 homes last month, up 12.6 percent from the 143 sold in December 2010, according to a Florida Realtors association breakdown. On the other hand, Volusia County's three associations posted declining sales numbers for December: 12.6 percent down in New Smyrna Beach, 10.4 percent in Daytona Beach and 1.7 percent in West Volusia.

"Flagler activity is picking up. The investors are coming back," said Carmen Bongiovanni, a sales agent with Watson Realty Corp. and president of the Flagler County Association of Realtors. "Prices are down and the loan rates are at record lows. It's the perfect storm."

The median price -- where half sell for more and half for less -- of a home sold in December in the two counties was $108,000. That's down 2 percent from the $109,700 median sale price a year ago. However, it's up from November's $102,000, the lowest median sale price since June 2001.

"It's low, but it doesn't worry me. We're selling more than we were and that brings down inventory. We're at the point where people see they have to move now to buy and that will bring prices back up," said Sandy Alford, a sales agent with Swann & Associates and president of the West Volusia Association of Realtors. "The drop (in median prices) has stopped at the bottom now, but the rise will not be fast and that's good. We need a slow, steady and strong climb up."

For 2011, local Realtors sold 9,010 existing houses. That's up 8 percent from the 8,488 houses sold in 2010. The median sale price fell 7 percent to $110,400 from $119,100 in 2010.

December sales of existing condominiums rose 15 percent to 157 units from 137 a year ago. It's the third consecutive month of year-over-year increases. Daytona Beach agents set the pace selling 88 units, up more than 11 percent from a year ago.

The condo median sale price in December rose 4 percent to $115,00 from $111,000 a year ago. It's also higher than November's median sale price of $105,000, the lowest since Florida Realtors broke out condo sales in 2006.

Local condo sales for 2011 totaled 1,953 units, up 5 percent from the 1,857 units sold in 2010. The median sale price rose 7 percent to $131,900 from $123,000 in 2010.