DAYTONA BEACH, Fla. – A Volusia County real estate agent says condo sales around the Daytona Beach area are taking a steep dive and he says coronavirus is to blame.
What You Need To Know
“The condo is typically a second home, maybe a vacation or an income property and those are not in as much demand given the situation right now with COVID,” said Ron Wysocarski, CEO of Wyse Home Team Realty.
He never expected sales to change so drastically.
“I mean you want to talk about jumping off a cliff, the sales numbers are down 45 percent from last March and April of last year compared to this year,“ Wysocarski said.
This has created tough times for Realtors.
“I’ve got to imagine there are a few out there pretty concerned because it is a little lean right now for many agents,“ Wysocarski said.
However he is hopeful that things will bounce back once this is all over.
“There is pent-up demand on both sides, there are some sellers that absolutely want to sell and some buyers that need to buy and i think that natural forces will really push the market back to where it is,” Wysocarski.
But it’s hard to predict exactly when that might happen.
“We don’t know what the future is and we are cautiously optimistic but let’s face it, if there is a round two of this, all bets are off,” Wysocarski said.
Wysocarski said single family home sales have also dropped off but he believes those will recover faster than condos. He thinks this is a good time for both buyers and sellers to get good deals.
Sign up now for one of our coronavirus newsletters that will show up in your inbox every weekday at 1 p.m. The newsletters highlight the most important coronavirus stories of the day that you need to know for your area.