Closed Sales Up, Inventory Down In Brevard Real Estate
By Bobby Freeman // October 24, 2013
days on market has dropped 23 percent
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BREVARD COUNTY, FLORIDA — The Florida housing market continues with positive momentum with September marking the 22nd month in a row that statewide median sales prices rose year-over-year for both single-family homes and for townhome-condo properties, according to the latest housing data released by Florida Realtors®.
In Brevard County we are experiencing ups and downs. Closed sales are up 9.1% and inventory of available single-family homes for sale are down 19.8%.
Cash buyers accounted for 291 closed single family home sales- up over 20% from the previous year. The median days on market has dropped 23% to 30 days.
Closed condo sales in Brevard rose 21.9% while inventory dropped almost 30%. The median sales price was down 2.6% to $105,000.
Yes, we are now in a “seller’s market,” Sellers will still need to be cautious when setting their initial asking price, pricing too high can actually be the wrong move.
If you happen to be a seller and your property has been sitting on the market for a many months with little to no activity you might want to review a couple of important items.
First review, in detail, your competition. Compare your asking price and also review all recent sales. If comparable homes are selling and your home isn’t even getting showing requests, then there may be a good possibility your home is overpriced.
Also review your marketing. The new MLS for Space Coast Realtors allows all Realtors to display an unlimited amount of photos, giving that potential buyer much more to review.
PROFESSIONAL MARKETING BLITZ
A listing with zero inside photos and only a blurry photo of the outside may deter buyers from actually wanting to schedule a showing to view the inside.
Homes that have been on the market for long periods of time can certainly be a challenge to sell. Buyers sometimes ask me “What’s wrong with this home?”
It’s been on the market for over a year so why isn’t it selling? There must be something wrong with the home.
My advice to a home seller is to price your home comparable to the most recent sales and produce an outstanding professional marketing blitz that will expose your home to thousands of potential buyers all at once.
Happy Home Selling to all and please feel free to contact McCoy-Freeman Group RE/MAX Elite
ABOUT THE AUTHOR
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 and has recently been presented with 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 $180 million.
Among McCoy-Freeman Group’s achievement are RE/MAX Hall of Fame, RE/MAX 100% Club, 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 ABC News, Coastal Condo Living, & Hot Retirement Towns Magazine and SpaceCoastDaily.com
For more information log on to BrevardRealtyConnection.