MARKET WATCH: Merritt Island Real Estate Update, Anything Priced Fair Market Value Selling Quick
By Bobby Freeman, Realtor // February 13, 2017
68 properties have closed this year
ABOVE VIDEO: Brevard County Realtor Bobby Freeman with RE/MAX Elite’s McCoy-Freeman Group discusses simple ways to improve your home’s appearance, which will lead to a much higher sales price.
BREVARD COUNTY • MERRITT ISLAND, FLORIDA – Currently there are 212 active condo, single-family and town homes for sale in Merritt Island.
There are 105 properties in contingent or pending status. So far 68 properties have closed this year in all areas of Merritt Island.
Six of the closed sales occurred over 180 days on the market and yes the final sales price was a lot less than the original asking price.
These sellers either had the time to wait for the market to catch up to the actual value or maybe they just like to play lotto with their home sale in hopes of finding an uneducated buyer with no financing contingencies.
Closed prices range from $26,201 for a 2 bedroom mobile home in Colony Park, to $1.45 million for a six bedroom single-family home in Hacienda Del Sol Estates.
So what type of market do these numbers put us in?
Considering that 64 percent of the 68 sold properties sold in less than 30 days I can easily say it’s a Seller Market. Our demand is high and our inventory is low. Anything priced at fair market value is selling quick.
A new listing in the popular Island Crossings neighborhood hit the market last Tuesday and was automatically sent to my buyer specifically looking in that community.
My buyer contacted me and wanted to set up a showing for Saturday. My thoughts were that this home would not last on the market for sale that long. I convinced my buyer to set up a showing as soon as possible which was on the next day.
My next phone call was to the listing agent who advised me she received multiple offer already and the seller has already accepted one of them. And now sits my qualified buyer just waiting for the next one in Island Crossings to hit the market.
Unfortunately there are a several other buyers wanting to purchase in Island Crossings. This is all so true for most other property locations in Merritt Island.
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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 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
