REAL ESTATE MARKET WATCH: Median Sales Price for Brevard Single Family Homes Up 6.6% to $225,000

By  //  June 24, 2018

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Brevard Median Sales Price for Townhomes/Condos is up 10.7% to $179,950

ABOVE VIDEO: The Median Sales Price for Brevard Single Family homes is up 6.6% to $225,000 compared to a year ago, which was $211,000. In May, Florida’s housing market reported more sales, higher median prices and more new listings from owners ready to sell, according to the latest housing data released by Florida Realtors.

BREVARD COUNTY, FLORIDA – In May, Florida’s housing market reported more sales, higher median prices and more new listings from owners ready to sell, according to the latest housing data released by Florida Realtors.

May was the 77th consecutive month that the statewide median sales prices for both single-family homes and townhouse-condo properties rose year-over-year. The median is the midpoint; half the homes sold for more, half for less.

“Florida’s Space Coast real estate market continues to go up,” says Jennifer McCoy, Broker-Associate for REMAX Elite’s McCoy-Freeman Group.

“The category going down is the number of distresses sales. Foreclosures and short sales closings are down over 60% from this time last year” says McCoy.

Recap of the Brevard County Residential Report for May 2018:

• Closed Sales are down 4.5% for May 2018 in which the number of units closed was 943 compared to 987 in May 2017, with a decrease in cash sales of 13.2% compared to May 2017.

• New Pending Sales are up 0.4% and New Listings are up 11.1%.

• The Median Sales Price for Brevard Single Family homes is up 6.6% to $225,000 compared to a year ago, which was $211,000.

• Months Supply of Inventory is up 19.2% to 3.1 months, an increase from 2.6 months in 2017.

• Traditional Sales are down 1.3%, with a median sales price of $225,000.

• Foreclosure/REO Sales are down 65%, with a median sales price of $154,400.

• Short Sale Closings are down 54.5%, with a median sales price of $186,000.

Recap of the Brevard County Residential Report for May 2018.

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Recap of the Brevard County Townhouses/Condos for May 2018:

• Closed Sales are up 11.9% for May 2018 in which the number of units closed was 302 compared to 270 in May 2017, with an increase in cash sales of 7.9% compared to May 2017.

• New Pending Sales are down 3.9 % and New Listings are up 13.8%.

• Median Sales Price for Townhomes/Condos is up 10.7% to $179,950 compared to a year ago, which was $162,500.

• Months Supply of Inventory has decreased to 3.5 months in May 2018 from 3.6 months in May 2017.

• Traditional Sales are up 16.7%, with a median sales price of $180,000.

• Foreclosure/REO Sales are down 91.7% with a median sales price of $55,000.

• Short Sale Closing statistics did not change, as there were no short sales in May 2017 or May 2018.

Recap of the Brevard County Residential Report for May 2018.

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