In real estate markets are commonly referred to as a buyer's or seller's market. This year has seen a combination of record low inventory and incredible buyer demand thus resulting in a seller's market. Some supporting indicators being: high frequency of multiple buyer offers, lower than average days on market, and decreased number of active listings on the market. In comparing 2020 to 2019 YTD (as of 12/1) in the Daytona Beach MLS, there have been 7,404 residential properties sold in 2020 vs 6,855 reflecting an 8.0% increase, there were 9,470 new listings in 2020 vs 10,211 last year resulting in a 7.3% decrease in new listings. The median sales price of residential real estate increased by 8.6% to $249,000.
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