Positive signs for real estate: Median prices in Volusia, Flagler highest since ‘08

JULY HOME SALES

News-Journal/DAVID TUCKER

Published: Thursday, August 21, 2014 at 3:29 p.m.
Last Modified: Thursday, August 21, 2014 at 10:55 p.m.

Sales of existing homes last month declined in Volusia County and rose in Flagler County, compared with June, but median sales prices in both counties rose to the highest level in years.

Volusia County’s $140,000 median price for homes sold last month was the highest in the county since October 2008, said Ryan Tucholski, CEO of the West Volusia Association of Realtors.

Flagler County’s $165,000 median price for homes sold last month is also believed to be the highest since 2008, said Marsha Corby, president of the Flagler County Association of Realtors.

Ryan Adams, a real estate agent with Adams, Cameron & Co. Realtors in Ormond Beach, said prices for existing homes in Volusia County are starting to approach the levels last seen locally in late 2003 and early 2004, “when we saw a healthy market before things got out of control.”

Marsha Corby, the owner/broker of Palm Coast Shores Realty, said home prices in Flagler County have also been on a steady upswing.

“We’re going to see an increase (in home prices) from here on out,” she said.

Corby said the area is starting to attract more newcomers from northern states, thanks to the improving economy, which is leading to increased demand for existing homes, and fewer distressed properties among the new listings hitting the market.

Some of those newcomers, she said, are “people coming here for jobs.”

“I have a closing next week (of a sale of an existing house in Flagler County) to a family moving to the area from another state,” she added.

In Volusia County, Realtors reported 752 closed sales of existing homes in July, down from 900 in June, but up from 745 in July of last year. The median sales price for homes sold in the county last month — meaning equal numbers were sold for more than and less than that amount — rose to $140,000, up from $135,000 in June and $123,950 in July of last year.

In Flagler County, 218 existing homes were sold last month, up from 210 in June, but down from 243 in July of last year. The median price rose to $165,000, up from $160,000 in June and $155,000 in July of last year.

“July is not typically a strong month (for sales of existing homes), so I was pleased with July this year,” said Corby. “We expect to have a really good fall when home sales typically pick up.”

Tulcholski said a number of his association’s member Realtors reported a lull in sales in July, but said “things are picking up again” so far in August. For the most part, the trend has been one of steady improvement for the local existing home resale market, he said. “We remain optimistic by all means,” he said.

Ian Anderson, president of the Daytona Beach Area Association of Realtors, said the increase in median price last month continues a trend seen locally the past couple of years. “We’re on pace for a stellar year and all of the numbers continue to support that,” said Anderson, the owner/broker of Dream Homes Team Realty in Ormond Beach.

  

Area Home Sales

Number of existing homes sold:
VOLUSIA COUNTY
July 2014: 752
June 2014: 900
July 2013: 745
FLAGLER COUNTY
July 2014: 218
June 2014: 210
July 2013: 243
SOURCES: Florida Realtors, Flagler County Association of Realtors
Median Sales Prices
Median price of homes sold:
VOLUSIA COUNTY
July 2014: $140,000
June 2014: $135,000
July 2013: $123,900
FLAGLER COUNTY
July 2014: $165,000
June 2014: $160,000
July 2013: $155,000
SOURCES: Florida Realtors, Flagler County Association of Realtors

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