WATCH: Residential Homes Closed Sales in Brevard County are Up 10 Percent for April 2019

interest rate for a 30-year fixed-rate mortgage averaged 4.47 percent in April

WATCH: “The real estate market here on the Space Coast continues to be a good investment,” said Jennifer McCoy, Broker-Associate for REMAX Elite’s McCoy-Freeman Group. “Strong jobs and low mortgage interest rates are positive trends for Brevard’s housing market.”

BREVARD COUNTY, FLORIDA – Closed Sales in Brevard County are up 10 percent for April 2019 in which the number of units closed was 998 compared to 907 in 2018, with an increase in cash sales of 14.3% compared to April 2018.

Across Florida, the housing market reported more sales, higher median prices and increased inventory (active listings) in April compared to a year ago, according to the latest housing data released by Florida Realtors.

Sales of single-family homes statewide totaled 26,992 last month, up 6.2% over April 2018.

In April, statewide median sales prices for both single-family homes and condo-townhouse properties rose year-over-year for the 88th consecutive month.

The statewide median sales price for single-family existing homes was $259,470, up 2.6% from the previous year, according to data from Florida Realtors Research Department.

“The real estate market here on the Space Coast continues to be a good investment,” said Jennifer McCoy, Broker-Associate for REMAX Elite’s McCoy-Freeman Group.

“Strong jobs and low mortgage interest rates are positive trends for Brevard’s housing market.”

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 4.47 percent in April 2019, compared to the 4.14 percent averaged during the same month a year earlier.

Recap of the Brevard County Residential Report for April 2019

• Closed Sales are up 10% for April 2019 in which the number of units closed was 998 compared to 907 in 2018, with an increase in cash sales of 14.3% compared to April 2018.

• New Pending Sales are up 10.7% and New Listings are down -5.9%.

• The Median Sales Price for Brevard Single Family homes is up 4.6% to $238,000 compared to a year ago, which was $227,500.

• Months Supply of Inventory is up 6.9% to 3.1 months, an increase from 2.9 months in April 2018.

• Traditional Sales are up 8.2%, with a median sales price of $240,000.

• Foreclosure/REO Sales are up 121.4% with 31 sales and a median sales price of $179,900.

• Short Sale Closings are down -50%, with 3 sales and a median sales price of $150,000.

Recap of the Brevard County Townhouses/Condos for April 2019

• Closed Sales are up 0.4% for April 2019 in which the number of units closed was 256 compared to 255 in 2018, with a decrease in cash sales of -12.1% compared to April 2018.

• New Pending Sales are down -9.1% and New Listings are down -10.4%.

• Median Sales Price for Townhomes/Condos is down -8.7% to $173,500 compared to a year ago, which was $190,000.

• Months Supply of Inventory is up 11.4% to 3.9 months in April 2019 from 3.5 months in April 2018.

• Traditional Sales are up 1.2%, with a median sales price of $175,000.

• Foreclosure/REO Sales are down -50% with 2 sales and a median sales price of $91,013.

• Short Sale Closings did not occur. There were no short sales in April 2018 or April 2019.

ABOUT THE AUTHOR

Bobby Freeman, a lifetime 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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