REAL ESTATE MARKET WATCH: Median Sales Price Up 18.6 Percent In Brevard County

By  //  November 24, 2016

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BREVARD COUNTY REAL ESTATE REPORT

ABOVE VIDEO: Florida’s housing market reported rising median prices, more new listings and fewer days to a sales contract during the third quarter of 2016, according to the latest housing data released by Florida Realtors.

BREVARD COUNTY, FLORIDA – Florida’s housing market reported rising median prices, more new listings and fewer days to a sales contract during the third quarter of 2016, according to the latest housing data released by Florida Realtors.

Closed sales of single-family homes statewide totaled 71,857 in 3Q 2016, almost the same level (down 0.4 percent) as during 3Q 2015.

“Foreclosed single-family home sales dropped over 63% compared to this time last year in Brevard,” says Jennifer McCoy Broker-Associate with RE/MAX Elite’s McCoy-Freeman Group.

The statewide median sales price for single-family existing homes in 3Q 2016 was $224,900, up 12.5 percent from the same time a year ago, according to data from Florida Realtors research department in partnership with local Realtor boards/associations.

The statewide median price for condo-townhouse properties during the quarter was $160,000, up 6.7 percent over the year-ago figure.

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A quick recap of the Brevard County Residential Report for Q3 2016 compared to Q3 2015:

• Closed Sales are down -2.1% for Q3 2016 in which the number of units closed was 2,617 compared to 2,672 in Q3 2015, with a decrease in cash sales by -26.5% compared to Q3 2015.
• New Pending Sales are up 2.4% and New Listings are up 2.1%.
• The Median Sales Price for Brevard Single Family homes is up 18.6% to $196,950 compared to a year ago, which was $166,000.
• Months Supply of Inventory is down -3.8% at 2.5 months compared to 2.6 months in Q3 2015.
• Traditional Sales are up 10%, with a median sales price of $201,000.
• Foreclosure/REO Sales are down -63.2%, with a median sales price of $120,101.
• Short Sale Closings are down -44.6%, with a median sales price of $135,000.

3rd-quarter-single-family-homes-580-1

Recap of the Brevard County Residential Report for Q3 2016 compared to Q3 2015.

A quick recap of the Brevard County Townhouses/Condos for Q3 2016 compared to Q3 2015:

• Closed Sales are down -10.5% for Q3 2016 in which the number of units closed was 667 compared to 745 in Q3 2015, with a decrease in cash sales of -12.5% compared to Q3 2015.
• New Pending Sales are up 4.8% and New Listings are down -0.4%.
• Median Sales Price for Townhomes/Condos is up 12.8% to $147,000 compared to a year ago, which was $130,350.
• Months Supply of Inventory is up 6.2% to 3.4 months compared to 3.2 months in Q3 2015.
• Traditional Sales are down -3.7%, with a median sales price of $150,000.
• Foreclosure/REO Sales are down -61%, with a median sales price of $78,000.
• Short Sale Closings are down -33.3%, with a median sales price of $80,000.

3rd-quarter-condo-town-homes-580-1

Recap of the Brevard County Townhouses/Condos for Q3 2016 compared to Q3 2015.

CLICK HERE FOR BREVARD COUNTY REAL ESTATE NEWS

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

TO SEE CONDO LISTINGS LOG ON TO CocoaBeachCondoGallery.com


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