Martha and Don Woods

Daytona Beach Area/April 2008 Report - The Daytona Beach Area (including New Smyrna Beach/SE Volusia Area) reported a total of 556 homes sold in April compared to 602 homes a year ago for a 8 percent decrease. The existing home median sales price was $178,100 a year ago it was $205,500 for a 13 percent decrease.

A total of 121 existing condos sold in 2008 compared to 102 condos the previous April for a 19 percent increase. The market’s existing condo median price was $213,800; a year ago it was $237,500 for a decrease of 10 percent; according to the Florida Association of Realtors® (FAR).

New Smyrna Beach/SE Volusia/May 2008 Report  - Don Woods, Past President/Director 2008, of the New Smyrna Beach Board of Realtors® reports that in the New Smyrna Beach/SE Volusia Area a total of 45 homes sold in May 2008 compared to 71 homes a year ago for a 36.6 percent decrease. The existing home median sales price was $180,900; a year ago it was $217,000 for a 16.6 percent decrease. It should be noted that the average home prices are down 13.2 percent from $275,866 last year to $239,338 for this period. DOM increased 15.3 percent from 170 to 196 days.

A total of 18 existing condos sold last month compared to 14 a year ago for a 28.6 percent increase. The existing condo median sales price was $272,000; a year ago it was $340,000 for a 20 percent decrease. It should be noted that the average condo prices are only down 0.6 percent from $402,571 last year to $400,000 for this period. DOM increased 10.4 percent from 212 days to 234. (Based on information from the New Smyrna Beach MLS for the periods shown and is deemed reliable but is not guaranteed accurate by the MLS).

Daytona Beach Area/March 2008 Report - The Daytona Beach Area (including New Smyrna Beach/SE Volusia Area) reported a total of 486 homes sold in March compared to 662 homes a year ago for a 27 percent decrease. The existing home median sales price was $172,800 a year ago it was $197,400 for a 12 percent decrease.

A total of 71existing condos sold in 2008 compared to 101 condos the previous March for a 30 percent decrease. The market’s existing condo median price was $190,000; a year ago it was $217,000 for a decrease of 13 percent; according to the Florida Association of Realtors® (FAR).

New Smyrna Beach/SE Volusia/April 2008 Report  - Don Woods, Past President/Director 2008, of the New Smyrna Beach Board of Realtors® reports that in the New Smyrna Beach/SE Volusia Area a total of 52 homes sold in April 2008 compared to 50 homes a year ago for a 4 percent increase. The existing home median sales price was $181,950; a year ago it was $200,000 for a 9 percent decrease. It should be noted that the average home prices are up 6.9 percent from $263,037 last year to $281,213 for this period. DOM decreased 38 percent from 244 to 151 days.

A total of 18 existing condos sold last month compared to 17 a year ago for a 5.6 percent increase. The existing condo median sales price was $277,500; a year ago it was $327,900 for a 15.4 percent decrease. It should be noted that the average condo prices are down 5.3 percent from $403,965 last year to $382,444 for this period. DOM increased 42.3 percent from 142 days to 202. (Based on information from the New Smyrna Beach MLS for the periods shown and is deemed reliable but is not guaranteed accurate by the MLS).

New Smyrna Beach/SE Volusia/1st Quarter 2008 Report  - Don Woods, Past President/Director 2008, of the New Smyrna Beach Board of Realtors® reports that in the New Smyrna Beach/SE Volusia Area a total of 103 homes sold in Jan - Mar 2008 compared to 132 homes a year ago for a 22 percent decrease. The existing home median sales price was $181,900; a year ago it was $196,000 for a 7.2 percent decrease. It should be noted that the average home prices are down 2.5 percent from $282,265 last year to $275,246 for this period. Days on Market (DOM) increased 30 percent from 156 days last year to 203.

A total of 36 existing condos sold 1st Qtr 2008 compared to 46 a year ago for a 21.7 percent decrease. The existing condo median sales price was $235,000; a year ago it was $351,000 for a 33 percent decrease. It should be noted that the average condo prices are down 31.9 percent from $434,867 last year to $296,299 for this period. .DOM decrease 57.7 percent from 501 days last year to 212. (Based on information from the New Smyrna Beach MLS for the periods shown and is deemed reliable but is not guaranteed accurate by the MLS).

For the year, January 1, 2007 through December 31, 2007 - Woods reports that the New Smyrna Beach/SE Volusia Area reported a total of 552 homes sold in 2007 compared to 668 homes for the same period a year ago for a 17.4 percent decrease. The existing home median sales price was $199,000; a year ago it was $215,250 for a 7.5 percent decrease. Average Days on Market increased from 140 to 176 in 2007.

A total of 173 existing condos sold in 2007 compared to 186 condos the previous year for a 7 percent decrease. The market’s existing condo median price was $339,000; a year ago it was $356,000 for a decrease of 4.8 percent. The average price change was also down 4.3 percent. Average Days on Market increased from 166 to 286 in 2007. (Based on information from the New Smyrna Beach MLS for the periods shown and is deemed reliable but is not guaranteed accurate by the MLS).

Florida Existing Home Sales Improve in April Compared to March 2008

ORLANDO, Fla., May 23, 2008 – Florida Realtors® statewide reported an upswing in existing home and condominium sales from March to April 2008, according to the latest housing statistics released by the Florida Association of Realtors® (FAR). A total of 11,200 existing single-family homes changed hands in April, a 20 percent increase over the previous month when 9,330 homes sold. Existing condo sales statewide rose 21.6 percent, with 3,900 units sold in April compared with 3,207 condos in March.

The median price for existing condos increased slightly as well during the one-month period. The median price of an existing condo in April was $179,200, up 1.6 percent from March’s figure of $176,300.

In the latest National Association of Realtors® (NAR) housing outlook, Chief Economist Lawrence Yun predicts that home sales and prices throughout most of the nation will improve in the second half of the year, especially if access to mortgages backed by the Federal Housing Administration, Fannie Mae or Freddie Mac increases. “There are many reasons for people to get into the housing market today, and very few reasons not to,” Yun says. “With the plentiful supply of homes for sale at affordable prices, interest rates approaching 40-year lows, and the strong track record of housing as a good long-term investment, conditions are ripe for buyers.”

In the year-to-year comparison, a total of 11,200 existing homes sold statewide last month while 12,358 homes sold in April 2007 for a decrease of 9 percent, according to FAR. Florida’s median sales price for existing homes last month was $198,900; a year ago, it was $239,000 for a 17 percent decrease. But, looking back to April 2003, the statewide median sales price for single-family homes has increased about 30.9 percent over the five-year-period, according to FAR records – at that time, the statewide existing-home median price was $151,900. The median is the midpoint; half the homes sold for more, half for less.

In a year-to-year comparison for condos, 3,900 units sold statewide compared to 4,633 in April 2007 for a 16 percent decline. The statewide existing-condo median sales price last month was $179,200; in April 2007 it was $221,300 for a 19 percent decrease. NAR reported the national median existing condo price was $219,400 in March 2008.

Last month, interest rates for a 30-year fixed-rate mortgage averaged 5.92 percent, down from the average rate of 6.18 percent in April 2007, according to Freddie Mac. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.