Brevard Housing Market Up 40 Percent Over Last Year

By  //  August 27, 2013

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Average Days On Market decreases 20 percent

ABOVE VIDEO: RE/MAX CEO Margaret Kelly talks Housing Market performance with Sara Eisen and Deirdre Bolton on Bloomberg Television’s “Market Makers.” 

BREVARD COUNTY, FLORIDA — According to the latest housing data released by Florida Realtors® Florida’s housing market gained momentum in July, with more closed sales, more pending sales, higher median prices and a shrinking inventory of homes for sale.

Mary_Gowenlock_180

Mary Gowenlock

July marks the 19th consecutive month the statewide single-family home median sales price increased year-over-year.

“I am seeing more sellers now eager to sell because of the increase in property values,” said waterfront specialist Realtor Mary Gowenlock with RE/MAX Elite’ McCoy-Freeman Group.

“With many years of property declines it sure is nice to have values on their way up,” says Gowenlock.

825 SINGLE-FAMILY HOMES CLOSED

In Brevard, 825 single-family homes closed last July representing a 40 percent increase compared to 588 sold in July of last year.

FloridaRealtos_logo_180The average Days On Market decrease 20 percent to 40 days compared to same time period last year.

Here’s some more good news if you are a seller: The average percent of the original listing price received increased 2.9 percent to 94.3 percent for single-family homes sold in July.

The condo/town home market in Brevard is just as well. 203 condos sold in July compared to on 133 sold July 2012 representing a 52.6 percentincrease in sales.

July 2013 condo town home reportThe demand for a piece of Florida paradise especially a beach condo continues to rise and buyers don’t mind paying for it.

A good recent example is our listing at Ocean Oaks in Cape Canaveral. This is a 3 bedroom 2 bath 1,723 sq. ft north facing with side ocean views.  We just closed it for an incredible $390,000 which is $226 per sq. ft.

 A LOT OF CONDO OWNERS HAPPY

“I’m sure this made a lot of condo owners happy because before our listing sold, a comparable sale closed for only $120 per square feet,” said co-listing agent Jennifer McCoy.

July 2013 Single-Family report

Statewide closed sales of existing single-family homes totaled 21,238 in July, up 20.9 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations.

Looking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 9,430 units sold statewide last month, up 16.8 percent from July 2012. Meanwhile, pending sales for townhouse-condos last month increased 20.7 percent compared to the year-ago figure.

The statewide median price for townhouse-condo properties was $128,000, up 21.9 percent over the previous year.

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 $180 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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