Real Estate Market Update for June, 2009 in the Daytona Beach Area
I have just reviewed the monthly statistics for our area from the Daytona Beach Area Association of Realtors Multiple Listing Service and I thought you'd like to know the current activity from June 1, 2009 to June 30, 2009.
There are currently 4913 active residential listings, compared to 5244 last month . There are 2838 listed houses as of today, compared to 2954 in May. 227 houses sold between June 1, 2009 and June 30, 2009, versus 240 in May.
For condos, there are 1378 listed as of today compared to 1414 last month, and 64 condos sold in June, versus 75 last month.
There are always some of these houses and condos that are Short Sales and agents may have offers that the banks have not approved as yet. They may also be Bank-Owned homes, listed with Realtors and showing in our MLS.
Bank approvals for short sales are starting to move a little faster than in the past. Financing options are changing as well so buyers may, in some cases, obtain financing but with stricter requirements, which often means delay in obtaining loan approvals. For the past couple of years, appraisals have been a challenge as well, because there are fewer sales to support the value of an offer.
For a breakdown by price ranges, in any Daytona Beach area community, please contact me directly. Our market is definitely in flux, and you need the counsel of an experienced short sale/bank-owned/foreclosure realtor to guide you to the best opportunities.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com