Realtors in Volusia and Flagler counties couldn’t keep up with last year in August.
Realtors in the Volusia/Flagler area sold 1,112 existing houses in August, down 3.1% from Aug. 2018. The median price, where half sold for more and half for less, was at $223,950, up 5% from last year.
Low inventory continues to cause a problem for maintaining sales volume as well as higher prices, New Smyrna Beach Realtor Roger Kincaid said in an email. “But 2018 was a huge year, so it's really hard to outpace it considering everything.”
In August 2018, Realtors in the two-county area sold 1,147 houses, up 14.2% from the year before. For 2018, sales of existing houses in the Volusia/Flagler market was at 11,869, up 3.7%.
Area Realtors still could have a big year, though. The winter and summer months weren’t kind, but a huge spring has sales at 8,454 so far, up 4.2% from 8,111 in the first eight months of 2018. Without suffering from ‘hurricanus interuptus’ this year (fingers crossed), the fall could deliver a big harvest of houses sold.
Builders also slowed down some in August, according to the monthly Census Bureau report. Builders obtained permits for 495 new housing units (237 single-family) in the Volusia/Flagler area in August compared to 250 (236 single-family) in August 2018. Only about 65% of area reporting both years.
Some big plans have hit the drawing board in Daytona Beach with Consolidated-Tomoka Land Co. proposing a shopping center at the southeast corner of Hand Avenue and Williamson Boulevard. Also, besides the Madison Pointe apartments that are already under construction, North American Development Group plans to put two hotels and a restaurant along Williamson, just south of Cornerstone Boulevard.
New residential plans keep popping up, too, including a 336-lot subdivision on 206 acres along Pioneer Trail, between Sugar Mill and Coastal Woods, in New Smyrna Beach.
Speaking of apartments under construction, building also is starting on the 260-unit Napier apartments, just south of where Consolidated-Tomoka wants to put that shopping center.
Not much commercial real estate deals to report, but two of note are a St. Cloud investor buying the auto service center property at 720 S. Nova Road in Ormond Beach for $1.5 million and a DeLand couple buying the store building at 143 N. Woodland Blvd., home of Sportsanity, for $561,000.
On a final note, Chick-fil-A isn’t going as drastic for upgrading its Dunlawton Avenue store in Port Orange as the one on West International Speedway Blvd., which it is going to tear down and rebuild. On Dunlawton it plans to add a second drive-through and upgrade the kitchen.
Managing Editor Cecil G. Brumley has been tracking business and the economy in Volusia County for more than 22 years. Contact him at firstname.lastname@example.org (no hyphens) or follow him on Twitter @cecilbrumley.