Brevard County Market Not Slowing Down
By Bobby Freeman // February 12, 2014
sales for the quarter are up
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BREVARD COUNTY, FLORIDA — Traditionally the last quarter of the year is slow for Brevard County real estate sales.
Property buyers usually have other plans from Thanksgiving to New Year’s Day.
However this year I know myself and most Realtors were way too busy with real estate transactions to even think about the holidays.
Sales, new pending sales, average sales price, inventory and median sales price were all up in the last quarter of 2013 compared to 2012.
The market is not slowing down and in my opinion, Brevard County is undervalued for what we have to offer.
Here’s a quick recap of the Brevard County Residential Report Q4 2013 compared to Q4 2012:
• Closed Sales are up 14.7% for the Q4 in which the number of units closed were 2,095 compared to 1,827 last Q4 2012, with an increase in cash sales by 17.0% compared to Q4 2012.
• New Pending Sales are up 15.7% and New Listings are up 15.4%.
• Median Sales Price for Brevard County Single Family Homes are up 8.4% to $130,000 compared to a year ago, which was $119,900.
• Median Days on the Market are up 2.6%, which is 39 days compared to 38 last Q4 2012.
• Months Supply of Inventory is up 5.2% to 4.4 months compared to 4.2 months last Q4 2012.
• Traditional Sales are up 27.7%, with a Median Sales Price of $155,000.
• Foreclosure/REO Sales are up 61.0%, with a Median Sales Price of $88,100.
• Short Sale Closings are down -55.3%, with a median sale price of $114,950.
A recap of the Townhouses/Condos Q4 2013 statistics compared to Q4 2012:
• Closed Sales are up 0.2% for the Q4, with an increase in “cash” sales of 4.7% compared to Q4 2012.
• New Pending Sales are up 12.5% and New Listings are up 12.1%.
• The Median Sales Price for Townhouses/Condos are up 12.1% to $120,000.
• Median Days on the Market are down -25.5%, which is 41 days compared to Q4 2012, which was 55 days.
• Months Supply of Inventory is up 16.1%, which is 5.8 months compared to Q4 2012, which was 5.0 months.
• Traditional Sales are up 2.9%, with a Median Sales Price of $129,900.
• Foreclosure/REO Sales are up 36.8%, with a median sales price of $61,400.
• Short Sale Closings are down -57.7%, with a median sale price of $89,250.
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 $200 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.