June SFR Sales

We had a bump of 13% in sales of single family residential from 114 in May to 131 in June. Total number of non-distressed SFR sold was 53 with a median price (MP) of $185,000, for short sales sold 54 with a MP of $126,000 and 15 REO sold with a MP of $120,000.

Inventory continues to drop, total active in Flagler County, 4175 down from 4311 in May and residential 1353 down from 1504 in May. Condos are the only property type with increase numbers with 599 up from 585 in May. A small increase month over month but from the first of the year its up 15%, from 514 in January to the current total of 599. At the current rate of sales, 12 a month, we have 50 months of condos on the market.

Pending home sales continue to climb with a current count of 593 single family residential and 44 condos under contract. Of the 593 single family 475 are short sales and 34 are REO. Condo similar of the 44 pending 31 are short sale and 2 are REO. As you can see we are closing our short sales at a pretty good rate. I spoke with an agent in Volusia and they indicated a 3% closing ratio for short sales in Daytona Beach Association.