MARKET WATCH: Florida, Brevard Real Estate Report For January 2016

By  //  February 25, 2016

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single-family homes totaled 16,529 last month

ABOVE VIDEO: Florida’s housing market saw rising median prices, fewer all-cash closed sales and a tight inventory of for-sale homes in January, according to the latest housing data released by Florida Realtors. “Effective marketing with professional photos and proper staging greatly helps our sellers achieve a higher selling price” says Jennifer McCoy Broker Associate for RE/MAX Elite’s McCoy-Freeman Group in Brevard County.

BREVARD COUNTY, FLORIDA – Florida’s housing market saw rising median prices, fewer all-cash closed sales and a tight inventory of for-sale homes in January, according to the latest housing data released by Florida Realtors.

Closed sales of single-family homes statewide totaled 16,529 last month, up 2.7 percent over the January 2015 figure.

January marked the 50th month in a row that median sales prices for both single-family homes and for townhouse-condo properties rose year-over-year in Florida.

Closed sales for single-family homes in Brevard county were down last month compared to January 2015. I’m not concerned with this statistic since currently there are 1,504 single-family homes contingent/pending to close in Brevard.

An interesting note is the total number of traditional closed single-family sales were up over 16.9 percent at 505 sold in Brevard. 82 foreclosures closed in January down 46.8% and short sales dropped 40 percent to 15 sold in January 2016 compared to January 2015.

Jennifer McCoy

Jennifer McCoy

“Many homeowners that purchased around the peak of the real estate market are now seeing positive equity in their property,” said Jennifer McCoy Broker Associate for RE/MAX Elite’s McCoy-Freeman Group in Brevard County. 

“Effective marketing with professional photos and proper staging greatly helps our sellers achieve a higher selling price,” said McCoy.

“Just another sign the real estate market is improving,” said McCoy.

Recap of the Brevard County Residential Report for January 2016 compared to January 2015:

• Closed Sales are down -1.5% for January 2016 in which the number of units closed were 602 compared to 611 in January 2015, with a decrease in cash sales by -12.0% compared to January 2015.

REAL ESTATE WATCH: 2015 Brevard County Annual Housing StatisticsRelated Story:
REAL ESTATE WATCH: 2015 Brevard County Annual Housing Statistics

• New Pending Sales are down -10.3% and New Listings are down -7.8%

• The Median Sales Price for Brevard Single Family homes is up 17.2% to $164,038 compared to a year ago, which was $140,000.

• Months Supply of Inventory is down -14.7% to 2.9 months compared to 3.4 months in January 2015.

• Traditional Sales are up 16.9%, with a median sales price of $178,900.

• Foreclosure/REO Sales are down -46.8%, with a median sales price of $99,375.

• Short Sale Closing are down -40.0%, with a median sales price of $117,050.

Recap of the Brevard County Townhouses/Condos for January 2016 compared to January 2015:

• Closed Sales are down -6.6% for January 2016 in which the number of units closed were 155 compared to 166 in January 2015, with an decrease in cash sales by -24.1% compared to January 2015.

• New Pending Sales are down -19.9% and New Listings are up 4.4%

• Median Sales Price for Townhomes/Condos is up 19.0% to $138,000 compared to a year ago, which was $116,000.

• Months Supply of Inventory is down -11.6% to 4.0 months compared to 4.6 months in January 2015.

• Traditional Sales are up 6.0%, with a median sales price of $141,000.

• Foreclosure/REO Sales are down -52.0%, with a median sales price of $65,985.

• Short Sale Closing are down-85.7%, with a median sales price of $62,000.

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ABOUT THE AUTHOR

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 including 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 $300 million.

Among McCoy-Freeman Group’s achievements are RE/MAX Hall of Fame, RE/MAX Platinum Club, Certified Luxury Home Marketing Specialist (CLHMS), 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 News, News 13, WKMG News 6, Coastal Condo Living Magazine, Hot Retirement Towns Magazine and SpaceCoastDaily.com.

For more information log on to BrevardRealtyConnection.com

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