Market Report: Brevard County’s Real Estate Market Continues To Go Up

By  //  July 25, 2015

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'Properties are selling quick'

real estate

Single-family foreclosures and short sales are down over 32 percent compared to this time last year while ‘traditional’ sales are up 24 percent. Statewide June marked the 43rd month in a row – more than three and a half years – that median sales prices rose year-over-year for both single-family homes and townhouse-condo properties.

BREVARD COUNTY, FLORIDA — Brevard County’s real estate market continues to go up.

Here’s the broken record player for you one more time….sales up, inventory down, sales up, inventory down, sales up, inventory down. Also, there are now less ‘distressed’ properties for sale.

Single-family foreclosures and short sales are down over 32 percent compared to this time last year while ‘traditional’ sales are up 24 percent.

Statewide June marked the 43rd month in a row – more than three and a half years – that median sales prices rose year-over-year for both single-family homes and townhouse-condo properties.

Jennifer McCoy

Jennifer McCoy

“Properties are selling quick” says Realtor Jennifer McCoy with RE/MAX Elite’s McCoy-Freeman Group.

“I am seeing this firsthand and buyers need to be ready financially when a new listing hits the market in their criteria and act quick before it’s gone” say McCoy.

A quick recap of the Brevard County Residential Report for June 2015 compared to June 2014:

• Closed Sales are up 10.0% for June 2015 in which the number of units closed were 968 compared to 880 in June 2014, with a decrease in cash sales by -6.6% compared to June 2014.
• New Pending Sales are up 3.3% and New Listings are up 7.8%.
• Median Sales Price for Brevard County Single Family Homes are up 21.4% to $170,000 compared to a year ago, which was $140,000.
• Median Days on the Market are down -16.7%, which is 30 days compared to 36 in June 2014.
• Months Supply of Inventory is down -24.0% to 2.9 months compared to 3.9 months in June 2014.
• Traditional Sales are up 24.0%, with a median sales price of $179,890.
• Foreclosure/REO Sales are down -25.6%, with a median sales price of $116,050.
• Short Sale Closings are down -38.5%, with a median sale price of $147,000.

A quick recap of the Brevard County Townhouses/Condos Report for June 2015 compared to June 2014:

• Closed Sales are up 25.8% for June 2015 in which the number of units closed were 278 compared to 221 in June 2014, with an increase in cash sales of 40.9% compared to June 2014.
• New Pending Sales are up 20.7% and New Listings are up 18.3%.
• The Median Sales Price for Townhouses/Condos is up 8.5% to $134,500 compared to a year ago, which was $124,000.
• Median Days on the Market are down – 8.7%, which is 42 days compared to June 2014, which was 46 days.
• Months Supply of Inventory is down – 21.3%, which is 3.7 months compared to June 2014, which was 4.7 months.
• Traditional Sales are up 36.6%, with a median sales price of $148,000.
• Foreclosure/REO Sales are down – 11.6%, with a median sales price of $62,250.
• Short Sale Closings are down – 66.7%, with a median sale price of $410,000.


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