As we navigate the heart of summer, new data from the New Smyrna Beach Board of REALTORS® revealed a cooling in sales activity, a surge in listings, and longer times to close. These are clear signs that buyers are regaining leverage in Volusia County’s real estate market. As a local Realtor closely watching these shifts, I’m seeing firsthand how buyers now have more options and stronger negotiating power. While prices remain relatively firm, rising inventory and a drop in cash deals point to a market increasingly favoring well-prepared buyers.
SINGLE-FAMILY SNAPSHOT: PRICES UP, SALES COOL
Single-family home sales dropped nearly 15 percent in June compared to last year, but prices continued to climb. The median sale price rose 5.7 percent from June 2024—suggesting demand is still strong despite the slowdown.
Buyers are taking longer to commit, with homes going under contract in 45 days and closing in 88. Only 37 percent of sales were paid in cash, a sign that investor activity has slowed.
The biggest shift? Inventory. Active listings rose more than 50 percent, and the supply of homes hit eight months—well above the 5.5-month level that signals a balanced market.
TOWNHOMES & CONDOS: BUYERS BACK OFF
The condo and townhouse market cooled significantly in June, with sales down 26.5 percent and prices falling 17 percent year-over-year. Time to contract stretched to 98 days, and inventory surged to 394 listings, more than double a balanced market. Cash sales also dropped, making up less than half of closings.
LENDER’S VIEW: MORE OPTIONS, LESS URGENCY
Local mortgage professionals are also seeing a shift. Sally Vance, a Volusia County lender with Guild Mortgage and Branch Manager, has been in the industry for over 25 years.
“There’s definitely less urgency in the market right now—buyers are taking their time, touring more homes, and making sure the higher cost is really worth it,” said Vance. “For the first time in a very long time, we’re seeing a true buyer’s market—high rates are giving buyers the leverage to negotiate better deals and ask for seller-paid closing costs.”
She noted an uptick in adjustable-rate mortgage inquiries and rate buydown requests, adding that “buyers don’t have to sit on the sidelines—we’re seeing smart strategies to help clients get into the right home today, even with higher rates. We’re bringing back old-school tools like temporary rate buydowns, which let sellers prepay part of the interest so buyers can ease into the payments on a fixed-rate loan.”
Looking Ahead: What to Expect The shift across all inventory signals the local real estate market is becoming more favorable to buyers, especially those who were previously priced out. The sharp rise in available inventory suggests that sellers may need to adjust expectations, particularly in the condo market where prices are falling and homes are lingering on the market.
As interest rates stabilize and momentum slows, many real estate professionals expect continued price negotiation and more flexible financing terms. Still, well-priced, move-in-ready homes in desirable areas are likely to remain competitive.
THE BOTTOM LINE
The days of lightning-fast sales and bidding wars are fading. As inventory builds and prices level out, patient buyers may finally have the upper hand. Whether you’re a first-time buyer or making a move out of necessity, 2025 may offer the most buyer-friendly conditions we’ve seen in years.
Mimi McKee is a Realtor with Ocean Properties & Management Inc.
and a member of the NSB Board of Realtors. She relocated from
Atlanta, GA in 2005 and is “Loving Living at the Beach.”
Any information provided for this news column is based on personal research and analysis and does not reflect the views or opinions of Ocean Properties & Management Inc.
