Areas We Serve
Volusia County Housing Trends
The demand for new housing resulted in
more than 5,500 new residential permits
being issued countywide in 2004 with a new
construction value well in excess of $934-
million. This trend is a continuation of what
the county experienced in 2003 and was
only marginally impacted by the three major
hurricanes that struck the area during the
duration of last year’s hurricane season.
Countywide the average dollar values per
residential homes during the 4th quarter
of 2004 came in at $164,488. Residential
construction, on average demonstrated higher
per unit values on Volusia County’s east side
with homes averaging from $136,559 in the
City of Edgewater to $243,138 in the City of
Ormond Beach. The only exception was in the
City of Holly Hill were the average new home
value was $107,608.
Residential construction in West Volusia,
during the same period, ranged from a low of $85,438 in the county’s non-incorporated
areas to a high of $190,873 within the City of
DeBary. Overall, the average new home values
in West Volusia was approximately $159,000
as compared to about $179,000 per new
home in the county’s communities on the
eastside closer to the beaches.
In June 2004, Money Magazine listed the
Volusia County’s MSA as one of the top 10
housing markets forecasted for growth and
appreciation of real estate. According to
the Report, the county’s housing values have
appreciated 51.9% since 1999. These values
are projected to continue to increase in value
by an additional average of 12.3% in 2005.
This robust investment in new residential
housing and an increase in business
development activities spurred additional
demand for commercial and industrial
construction which closed out the 2004
period with more than $248-million in new
projects. Collectively, more than $1.2-billion in
new construction was permitted throughout
Volusia County in 2004 adding to the new
overall county real estate values of $28.439-
billion.
Volusia County Florida - Department of Economic Development
