Median Prices Up, Inventory Down In Florida For July

By  //  August 23, 2012

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REAL ESTATE

(VIDEO: )

BREVARD COUNTY, FLORIDA – According to the latest housing data released by Florida Realtors, pending sales, closed sales and median prices rose, while the inventory of homes and condos for sale dropped in Florida’s housing market in July.

“Florida’s real estate recovery is on solid ground,” said 2012 Florida Realtors President Summer Greene.

Greene

“Since May 2011, pending sales have increased every month for both existing single-family homes and for townhome-condo properties. In July, pending sales were up more than 42 percent for existing single-family homes and 26 percent for townhouse-condo units, compared to a year ago. Home prices are on the rise in many markets, while the inventory of homes for sale is down. Florida’s housing market is growing stronger and stronger.”

In Brevard County pending sales rose 33% from 768 in July 2011 to 1,025 last month. The median sales price rose 3.12% to $115,500. Another positive number for our local market is homes continue to sell faster than last year.

In July 2011 the average Days On Market (DOM) for residential home was 111 days. That number dropped over 20% to 88 days for July 2012.

The average sales price for condos in Brevard County rose 28% to $164,980. Buyers better act fast if they want to purchase a condo. The average DOM dropped 42% to 96 days compared to 167 days this time last year.

The average sales price for condos in Brevard County rose 28% to $164,980.  Buyers better act fast if they want to purchase a condo.  The average DOM dropped 42% to 96 days compared to 167 days this time last year.

Statewide closed sales of existing single-family homes totaled 17,420 in July, up 9.8 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. The statewide median sales price for single-family existing homes last month was $148,000, up 7.8 percent from July 2011.

According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in June 2012 was $190,100, up 8 percent from the previous year. In California, the statewide median sales price for single-family existing homes in June was $320,540; in Massachusetts, it was $325,000; in Maryland, it was $268,910; and in New York, it was $220,000.

For a detailed local reports, please click on the links below:

• Monthly Stats Report – July 2012 – Residential, Condos and Town homes
• Monthly Statistics Report – July 2012 – Bank Owned
• Monthly Statistics Report – July 2012 – Short Sales

Closed Sales July 2012

• Titusville, Mims
• Port St John, Canaveral Groves, Cocoa
• Rockledge, West Cocoa
• Viera, Suntree
• Merritt Island
• Melbourne
• NE & NW Palm Bay
• South Palm Bay, Malabar, Grant, Valkaria
• Cape Canaveral, Cocoa Beach
• Satellite Beach, Indian Harbor Beach
• Indialantic, Melbourne Beach, South Beaches

Sources: Space Coast Association of Realtors, Melbourne Area Association of Realtors, Florida Association of Realtors & National Association of Realtors

ABOUT THE AUTHOR

Freeman

Bobby Freeman, a life-time resident of Brevard County, has been a top Realtor in the area for two decades. In his first year as an agent, Freeman received a Rising Star award from his Brokers. Since then he has achieved numerous sales awards and has recently been presented with the prestigious RE/MAX Hall of Fame Award.

Freeman, Jennifer McCoy and Nikki McCoy Freeman are family partners for RE/MAX Elite’s McCoy-Freeman Group. Together they have more than 30 years of extensive experience in all aspects of the real estate industry and have sold over $150 million. Among McCoy-Freeman Group’s achievement are RE/MAX Hall of Fame, RE/MAX 100% Club, Certified Distressed Property Experts (CDPE), Accredited Buyer’s Representative (ABR) and voted Best Realtor in Brevard County. The group has been featured in many news publications including CNN Money Magazine, CNNMoney.com, WFTV 9 ABC News, Coastal Condo Living, & Hot Retirement Towns Magazine and SpaceCoastDaily.com.

For more information log on to BrevardRealtyConnection.com


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