Pendulum Swings Toward Sellers As Demand Outpaces Supply Of Homes In Volusia, Flagler

ORMOND BEACH - When Tim Jones decided to sell his late parents' Ormond Beach home last month, he was surprised at how quickly it got snapped up.Less than a week after Realtor Bill Navarra listed the house, it received two offers, one of which Jones agreed to accept.<span style="font-size: 12px;">“It was incredibly fast,” said Jones, a physician who is a partner at Radiology Associates.<span style="font-size: 12px;">Realtors in Volusia and Flagler counties say homes are selling faster and overall prices are rising, both signs that the real estate market is swinging once again in favor of sellers, after years of being a buyers' market.<span style="font-size: 12px;">As of May, the supply of available homes on the market in Volusia had dwindled to 4.4 months, down from more than 12 months at the start of 2011, meaning the estimated time it would take to deplete the inventory if no more properties were added.