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Buying and Selling a Home This Summer: Volusia County’s Housing Trends

05/07/2024

If there’s one thing you can say for sure about the Volusia County real estate market, it’s that it’s never boring! For instance, as we head into summer, many experts expect property values in the region to reach increasingly higher levels. However, some neighborhoods, such as New Smyrna Beach, are experiencing a longer time from listing to contract, indicating a shift in buyer behavior.

If you’re hoping to buy, sell, or invest in a Volusia County home this summer, understanding local market trends is essential, as it helps you make the most informed decisions. By learning about current demand, price levels, and future projections, buyers, sellers, and investors can strategically time their transactions, maximize returns, and minimize risks in a volatile real estate market.

As the region’s leading brokerage, Bee Realty Corp is dedicated to staying on top of local housing trends, so you never need to worry if you’re dialed into the latest real estate developments. Our expert team of REALTORS® provides you with up-to-date insights and personalized advice, guiding you through the current market with confidence and success.

DeLand Real Estate: Buying a Home in Volusia County This Summer

Homebuyers in the Central Florida market have plenty to be excited about.

  • The state ranks third in the country for new home builds.
  • It is the US’s second most valuable market.
  • Home values have risen over 1% year over year.

The median sale price for a single-family home in Florida is significantly higher than the rest of the country. And while mortgage rates continue to challenge many buyers, a rising inventory could help bolster sales. Many experts hope a potential cooling of those rates will make for an even stronger market this summer and into the end of the year.

Is Volusia County considered a buyer’s market? Not exactly. It’s currently designated a “neutral housing market,” meaning prices tend to be reasonable, and properties remain on the market for a typical length of time. Encouraging signs taken from first quarter numbers for buyers include:

  • Nearly 65% percent of homes were sold under the asking price.
  • Twenty-three percent sold at asking price.
  • Only 13% sold over asking.

If you’re thinking of buying a Volusia County home this summer, the odds are good you will find a good deal! Here’s how Bee Realty Corp can ensure you do:

  1. Identifying opportunities. If the trend of homes selling below-asking price continues, the opportunity to buy at a favorable price increases. A skilled broker helps identify underpriced properties that may yield significant returns. They use their understanding of the local market to spot trends and opportunities, such as emerging neighborhoods or properties in areas with planned infrastructure improvements, which are likely to appreciate.
  2. Risk management. Due diligence is paramount in a real estate market as dynamic as Volusia County’s. Your broker can guide you through the necessary steps to mitigate risks, including comprehensive property inspections, proper appraisal, and a review of historical market data. They also help ensure you’re not overpaying.
  3. Long-term vs. short-term investments. Whether you’re purchasing a second residence, retirement home, or income-generating properties, a broker will tailor strategies to meet your specific needs, enabling you to capitalize on current trends while managing risk and meeting long-term financial objectives.

Selling Your Home in Volusia County

The good news is that, despite longer sales timelines, economists say sellers can likely find comfort in long-term equity gains. As you prepare to sell your property, a seasoned broker can help you interpret market fluctuations judiciously, considering neighborhood-specific trends and price ranges before listing.

The services a broker provides are as long as they are wide:

  • Preparing for sale. A well-prepared home often translates to a quicker sale at a higher price. Effective staging can significantly enhance your property’s appeal, making it more attractive to potential buyers. Decluttering, deep cleaning, and addressing any necessary repairs and upgrades are some crucial steps. Additionally, investing in professional landscaping can boost curb appeal and create a strong first impression.
  • Pricing your home. Setting the right price from the start is vital. An experienced broker will conduct a thorough comparative market analysis (CMA) to determine the most competitive price based on current market conditions and similar properties in your area. This way, you avoid the pitfalls of overpricing, which can lead to prolonged market exposure and eventual price reductions.
  • Marketing your property. We live in a digital world, so a robust online presence for your property is critical. High-quality photographs and virtual tours showcase your home’s best features. Listings should be prominently displayed on major real estate platforms and social media to reach the broadest audience possible. However, don’t rule out traditional marketing techniques like open houses, as they still play a crucial role in attracting potential buyers.

Your broker will also guide you on adopting strategies that can lead to a swifter home sale.

  1. Learn about local market dynamics. Your REALTOR® has access to the most recent sales data and can offer insight into average days on the market and price fluctuations within your home’s price bracket.
  2. Price wisely. Good brokers know that overpricing prolongs listings unnecessarily. If you want to maximize the chances of a quick sale, it’s better to trust comparative market analysis aids in setting an optimal price strategy.
  3. Facilitate showings. Competitive markets call for flexibility in scheduled showings. It helps to be open to accommodating a prospective buyer’s preferred viewing times and leaving the house during showings.
  4. Adjust strategies as needed. Most serious buyers will show interest in your home during the first few weeks after you list. A lack of traction might mean rethinking your pricing strategy to maintain market competitiveness.

A note about timing the listing just right. Given Volusia County’s dynamic market conditions, sellers who want to capitalize on current conditions should be prepared to act promptly. Keep in mind that while buyers are now taking more time to make an offer, demand remains strong in coveted coastal communities. That said, the scarcity of available listings has intensified competition, empowering buyers to negotiate more confidently.

How a DeLand Real Estate Broker Can Help Make Current Housing Trends Work for You

The DeLand real estate market can be challenging for novice and even seasoned buyers and sellers. A qualified local broker can be an invaluable asset in your buying or selling journey, offering expertise and guidance that ensure a smooth transaction.

  • Navigating complex transactions. Real estate transactions involve numerous moving parts, including negotiations, inspections, appraisals, and closing. The REALTORS® at Bee Realty Corp use their exceptional negotiating skills to secure you the best terms, whether you’re buying or selling. We manage communications between all parties, address any issues that arise during the transaction, and help navigate the paperwork and legalities. Our experience ensures complex transactions move forward with fewer hitches, leading to a smoother closing process.
  • Local expertise. Our DeLand team brings relevant market knowledge crucial for making informed decisions. They understand neighborhood trends, property values, and the factors influencing local real estate markets, allowing them to advise you on the best times to buy or sell. We also help you evaluate current market conditions and identify opportunities that outsiders might miss. For investors, this local expertise can highlight potential investment returns based on current market trajectories.
  • Ethical considerations. Working with a licensed and reputable DeLand-based broker is essential for maintaining high ethical standards throughout the real estate process. All of our REALTORS® practice a strict code of ethics, which is vital to ensuring transparency and fairness in all transactions. We’re committed to protecting our clients’ interests, providing accurate information, and avoiding conflicts of interest.

Partnering with Bee Realty Corp when buying or selling a property in the DeLand real estate market goes far beyond finding opportunities and closing the deal. We provide the local insights and ethical guidance necessary to ensure successful outcomes for buyers, sellers, and investors alike, empowering you to make informed decisions every step of the way.

Call us at 386-279-7522 or contact us online to learn more.

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A close look at West Volusia

Whether you’re buying your dream home, selling an older home, or investing in your future, now is the time to make a move.

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