Closed June 2014 Condo Sales Up 22% In Brevard County

By  //  July 23, 2014

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single-family home median sales price up 7.7%

ABOVE VIDEO:  RE/MAX researches 52 major metropolitan markets and analyzes the data to get a pulse on the U.S. housing market. Here are some highlights from this months report.

BREVARD COUNTY, FLORIDA – Brevard County’s housing market continues to report more new listings, increased median prices and more new pending sales according to the latest housing data released by Florida Realtors®.

In Brevard, the number of closed sales were up over 16% in June compared to June 2013 for single-family homes. Closed condo sales were up over 22% and the median sales price for single-family homes rose 7.7% to $140,000 compared to $130,000 last year.

Jennifer McCoy

Jennifer McCoy

“Buyers are taking advantage of mortgage rates that are near historic lows” said Jennifer McCoy with RE/MAX Elite’s McCoy-Freeman Group.  “Cash buyers accounted for over half of all sales here in June” says McCoy. “If a property is priced fair, it will usually sell quick.”

The statewide median sales price for single-family existing homes last month was $185,000, up 5.2 percent from the previous year, according to data from Florida Realtors Industry Data and Analysis (IDA) department in partnership with local Realtor boards/associations.

The statewide median price for townhouse-condo properties in June was $141,000, up 8.5 percent over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.

John Tuccillo

John Tuccillo

Florida Realtors Chief Economist Dr. John Tuccillo said, “June was a very strong month for both the single-family and the townhouse and condo markets in Florida, and we are very encouraged by the data. But a look at one month alone does not ever truly describe the market. So when the strong June report is balanced by a somewhat weaker May, the picture of a market settling-in emerges.

“We are generally seeing slower increases in both sales and prices, and a rising level of inventories. All of this points to a continued steady, manageable growth in the Florida housing market.”

Recap of the Brevard County Residential Report for June 2014 compared to June 2013: 

June-2014-Single-family-homes-435• Closed Sales are up 16.1% for June 2014 in which the number of units closed were 880 compared to 758 in June 2013, with an increase in cash sales by 7.4% compared to June 2013.
• New Pending Sales are up 16.5% and New Listings are up 5.7%.
• Median Sales Price for Brevard County Single Family Homes are up 7.7% to $140,000 compared to a year ago, which was $130,000.
• Median Days on the Market are up 9.1%, which is 36 days compared to 33 in June 2013.
• Months Supply of Inventory is down -1.3% to 3.9 months compared to 3.9 months in June 2013.
• Traditional Sales are up 31.6%, with a median sales price of $164,000.
• Foreclosure/REO Sales are up 9.9%, with a median sales price of $80,250.
• Short Sale Closings are down -56.2%, with a median sale price of $105,869.

Recap of the Brevard County Townhouses/Condos Report for June 2014  compared to June 2013:

June-2014-Condo-and-town-homes-435• Closed Sales are up 27.7% for June 2014, with a increase in cash sales of 22.2% compared to June 2013.
• New Pending Sales are up 13.9% and New Listings are down -2.7%.
• The Median Sales Price for Townhouses/Condos are up 3.3% to $124,000.
• Median Days on the Market are up 11.9%, which is 47 days compared to June  2013, which was 42 days.
• Months Supply of Inventory is down -14.9%, which is 4.7 months compared to June 2013, which was 5.5 months.
• Traditional Sales are up 34.6%, with a median sales price of $137,900.
• Foreclosure/REO Sales are up 53.6%, with a median sales price of $72,000.
• Short Sale Closings are down -80.0%, with a median sale price of $106,000.


Bobby Freeman

Bobby 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 $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,, WFTV 9 ABC News, Coastal Condo Living, & Hot Retirement Towns Magazine and

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