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Daytona home sales slowed during July
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HEATHER SCOFIELD
WYSE HOME TEAM REALTY
Median sales prices rose again as Daytona Beach home sales dipped for the first time in months.
An analysis of Daytona Beach Multiple Listing Service data by Wyse Home Team Realty showed that 510 existing single-family homes (detached) were sold in the Daytona Beach area during July with a median home sales price of $326,250. The sales are 8% lower than the number of homes sold in June. It’s 16% lower than the number of home sales in July 2020, and 3% lower than in July 2019. Sales volume was down slightly from June but was 4.5% higher than July 2020, when home values were lower.
The median sale price rose 21% from July 2020 and was almost 2% higher than in June. Year to date, home sales are up nearly 12% and the median home sales price is 19.5% higher than the same seven-month period in 2020. July 2021: 510 sales, $206,191,910 sales volume, $326,250 median sales price. July 2020: 609 sales $196,941,537 sales volume, $269,900 median sales price. July 2019: 527 sales $157,707,463 sales volume, $242,900 median sales price. June 2021: 555 sales, $213,331,475 sales volume, $320,000 median sales price. June 2020: 534 sales $163,469,879 sales volume, $260,000 median sales price. Year-To-Date 2021: 3,384 sales, $1,270,944,983 sales volume, $305,000 median sales price. Year-To-Date 2020: 3,026 sales $916,085,343 sales volume, $255,000 median sales price.
“This is the first dip in home sales we’ve seen for months,” said Daytona Beach Area Realtor Ron Wysocarski, broker and CEO of Wyse Home Team Realty in Port Orange. “Home sales last summer may not be a good basis of comparison because the market was trying to catch up after big pandemic related closures. But last month’s home sales also fell slightly below July 2019 when market conditions were stable. So it’s something we’re watching.”
The number of homes listed on the MLS rose 3% in July over June, but remained 32% lower than the number of homes listed during July 2020. Year to date, listings are down 15.5% over the same sevenmonth period in 2020. July 2021 Inventory: 1,248 single family home listings were active at some point during the month. July 2020 Inventory: 1,836 single family home listings were active at some point during the month. June 2021 Inventory: 1,207 single family home listings were active at some point during the month. Year-To-Date 2021 Inventory: 4,782 single family home listings were active at some point. Year-To-Date 2020 Inventory: 5,676 single family home listings were active at some point.
Sales were down slightly in Port Orange and up in Ormond Beach. The median sales price on the beachside was up, and New Smyrna Beach was home to the highest the median sales price at $444,838. Ormond Beach: 135 sales, $395,000 median sales price. Mainland Daytona (Including Holly Hill and South Daytona): 87 sales, $252,000 median sales price. Beachside (Ormond-by-theSea to Ponce Inlet): 76 sales, $394,500 median sales price. Port Orange: 92 sales, $332,500 median sales price. New Smyrna Beach: 58 sales, $444,838 median sales price.
Send business stories to jarleene@ormondbeachobserver. com.
BIZ BUZZ
JOBLESS CLAIMS TICK UP, AS RELIEF PROGRAMS END
Jobless claims in Florida inched up for the second consecutive week, as two federal unemployment-aid programs tied to the COVID-19 pandemic came to an end
The U.S. Department of Labor on Thursday, Sept. 2, reported an estimated 8,270 first-time unemployment claims were filed in Florida during the week that ended Aug. 28, up from a revised count of 7,977 for the week ending Aug. 21.
The agency had initially estimated 6,494 initial claims were filed in Florida during the week that ended Aug. 21.
The totals for both weeks, along with a four-week average of 6,896 claims, remain at pre-pandemic levels. They also come as two federal assistance programs — known as the Pandemic Unemployment Assistance and Pandemic Emergency Unemployment Compensation programs — ended on Monday, Sept. 6.
Another federal program, which provided $300 a week to unemployed people in addition to state benefits, was halted by Gov. Ron DeSantis’ administration in June. The administration pointed to a need to spur people back into the workforce. A Leon County circuit judge this week rejected a challenge to the decision to end that program, known as the Federal Pandemic Unemployment Compensation program.
“Florida businesses and employers are hiring across the state and need unemployed Floridians to return to the workforce,” the state Department of Economic Opportunity said in a recent news release that addressed the upcoming expiration of the other programs. “There continues to be many job opportunities available for Floridians throughout the state, with more than 545,000 jobs posted online.”
But Andrew Stettner, a senior fellow at The Century Foundation, a progressive New York-based think tank, cautioned that the expiration of federal benefits nationally will “suck out $5 billion in spending from the economy each week.”
“Based on numerous studies and data from states cutting off benefits early, we know that this sudden expiration will not spur hiring, but rather rob the economy of critical consumer spending,” Stettner said in a prepared statement. “And, with eviction protections ending at the same time, long-term unemployed workers are now vulnerable to lasting economic damage.”
The programs that expired Monday offer up to $275 a week to people ineligible for state unemployment compensation and extend the weeks unemployed people can receive benefits. They stem from the CARES Act federal stimulus law and have provided more than $5.56 billion to Floridians.
Since mid-May, Florida has averaged fewer than 10,000 new claims a week.
CROSSWORD
STRICTLY SPEAKING by Pam Klawitter; Edited by David Steinberg
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CELEBRITY CIPHER
By Luis Campos Celebrity Cipher cryptograms are created from quotations by famous people, past and present. Each letter in the cipher stands for another. "FHVPD ... YFO NWVKU. ... MDK CPM ZGMO MFSK 23-AKPV-FXU HGTB CDF TKKUKU OF YKO NWVKU MF MDK IFGXU LKIFSK FHVPD." XKMXWK ZFTKM
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© 2021 NEA, Inc. Puzzle Two Clue L equals N
SUDOKU
Complete the grid so that every row, column and 3x3 box contains every digit from 1 to 9 inclusively.
