Local Home Sales Are Red Hot!
The home sale market in Volusia and Flagler counties has been steadily increasing. Since the middle of 2020, the market has become extremely hot. The demand for homes is high, but the inventory is very low. Houses don't stay on the market long.
In an article published online in the News Journal on Friday, February 26, 2021, by Clayton Park, "The momentum from the surge in home sales in the second half of 2020 in Volusia and Flagler counties has continued into the new year, the latest reports from area Realtor associations show."
On a wholesales from last year and years prior have increased year over year. Clayton reported, "In January, Realtors in Volusia County sold 703 single-family homes, a 15.4% increase over the 609 they sold the same month last year, according to countywide data provided by the West Volusia Association of Realtors. Their counterparts in Flagler County sold 246, a 21.2% increase over the 203 closed transactions recorded in January 2020, according to the Flagler County Association of Realtors. The increases come on the heels of increases in the number of homes sold in both counties last year, compared with 2019. Realtors in Volusia County recorded 10,433 sales, up 5.9% from 9,853 in 2019. Flagler County Realtors made 3,279 sales in 2020, up 21.6% from the 2,697 sold the year before."
The pandemic has contributed to the increase in sales as many people are leaving bigger cities in the Northeast and heading down South. The demand for homes is so great, the inventory cannot keep up. Many people are moving from out of state to make this their forever home. They are looking to homestead, not just make a profit from flipping.
According to Alisa Rogers, 2021 board president for the Daytona Beach Area Association of Realtors who also helps clients buy and sell homes and also manages rental properties, "There's a lot more people moving here. The local real estate market is "on fire" these days, she said. "You can't keep a property on the market. Homes are selling as fast as we can put them on the market and demand for rentals is at an all-time high right now, too."
Now is the time to take advantage of the low mortgage rates. Even though current home inventory is low, new home construction is on the rise. If you are in the market for a home, please reach out to one of our realtors at Oceans Luxury Realty, as we are happy to help you!Posted by Oceans Luxury Realty on
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