Brevard Real Estate Closed Sales Up 13 Percent
By McCoy Freeman Group // January 23, 2013
REAL ESTATE REPORT
BREVARD COUNTY, FLORIDA – According to the latest housing data released by Florida Realtors®, Florida’s housing market had more closed sales, higher pending sales, higher median prices and a reduced inventory of homes for sale in December.
December marks the 12th consecutive month of higher statewide median sales prices for both single-family homes and for townhouse-condo units year-to-year, according to Florida Realtors’ data.
“The market continues to improve, and it’s doing so in all parts of the state,” said Florida Realtors Chief Economist Dr. John Tuccillo.
“Of note is the fact that inventory levels are now clearly consistent with a sellers’ market. When the final year-end statistics are compiled, expect that sales in 2012 will be more than 10 percent higher than they were in 2011. Once again, all the positive indicators are up significantly. The Florida real estate market is rapidly improving.”
The national median sales price for existing single-family homes in November 2012 was $180,600, up 10.1 percent from the previous year according to the National Association of Realtors® (NAR).
Brevard County Residential Report December 2012 compared to December 2011
- Closed sales are up 12.7% for the month of December with an increase in cash sales by 13.5% compared to December 2011
- New Pending sales are up 26.1% and New Listings are up 9.4%
- Median sales price for Brevard County Single Family Homes are up 12.1% to $120,000
- Median days on the market are down -36.9% which is 41 days compared to December 2011 which was 65 days
- Months Supply of Inventory is down -31.5% to 4.2 months compared to 6.7 months last December.
- Traditional sales are up 24.6% with a Median Sales Price of $156,400
- Foreclosure/REO sales are also up 51.3% with a median sales price of $74,950
- Short Sale closings are down -23.1% with a median sale price of $94,500
Townhouse/Condo December 2012 statistics compared to December 2011
- Closed sales are up 6.3% for the month of December with decrease in “cash” sales of -8.4% compared to December 2011
- New Pending sales are down -0.7% and New Listings are up 2.5%
- The median sales price for Townhouse/Condos are up 10.5% to $107,000
- Median days on the market are down -36.1% which is 53 days compared to December 2011 which was 83 days
- Months Supply of Inventory is down -38.6% to 5 months compared to 8.1 months last December.
- Traditional sales are up 6.1% with a Median Sales Price of $128,000
- Foreclosure/REO sales are also up 70.6% with a median sales price of $49,700
- Short Sale closings are down -31.1% with a median sale price of $83,000
ABOUT THE AUTHOR
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.