Median Sales Price for Brevard Single Family Home Up 14.1% Compared To a Year Ago
By Bobby Freeman, Realtor // September 23, 2017
Brevard County August 2017 Real Estate Report
ABOVE VIDEO: The September 2017 RE/MAX National Housing Report. The Space Coast’s housing market continued its positive track in August, with more closed sales, increased pending sales, more new listings and rising median prices, according to the latest housing data released by Florida Realtors.
BREVARD COUNTY, FLORIDA – The Space Coast’s housing market continued its positive track in August, with more closed sales, increased pending sales, more new listings and rising median prices, according to the latest housing data released by Florida Realtors.
Sales of single-family homes statewide totaled 25,235 last month, up 0.9 percent compared to August 2016.
“I can’t stress enough that buyers need to act quickly when their dream home hits the market” says Jennifer McCoy, Broker Associate for RE/MAX Elite’s McCoy-Freeman Group.
“The median time for contract acceptance decreased 25% last month compared to this time last year for condos and town homes in Brevard County,” said McCoy.
The statewide median sales price for single-family existing homes last month was $240,000, up 6.7 percent from the previous year, according to data from Florida Realtors Research department in partnership with local Realtor boards/associations.
The statewide median price for townhouse-condo properties in August was $170,000, up 6.3 percent over the year-ago figure. August marked the 69th consecutive month that statewide median prices for both sectors rose year-over-year. The median is the midpoint; half the homes sold for more, half for less.
Brevard County Residential Report for August 2017:
Closed Sales are up 9.3% for August 2017 in which the number of units closed was 961 compared to 879 in August 2016, with an increase in cash sales of 0.4% compared to August 2016.
• New Pending Sales are up 2.3% and New Listings are up 6.4%.
• The Median Sales Price for Brevard Single Family homes is up 14.1% to $222,500 compared to a year ago, which was $195,000.
• Months Supply of Inventory is up 8% to 2.7 months, up from 2.5 months in 2016.
• Traditional Sales are up 12.1%, with a median sales price of $225,000
• Foreclosure/REO Sales are down -26%, with a median sales price of $127,300.
• Short Sale Closings are down -33.3%, with a median sales price of $225,000.
Brevard County Townhouses/Condos for August 2017:
Closed Sales are down -7.0% for August 2017 in which the number of units closed was 240 compared to 258 in August 2016, with a decrease in cash sales of 23.3% compared to August 2016.
• New Pending Sales are down -0.4% and New Listings are up 24.2%.
• Median Sales Price for Townhomes/Condos is down -0.6% to $153,125 compared to a year ago, which was $154,000.
• Months Supply of Inventory did not change. It was 3.4 months in August 2016 and August 2017.
• Traditional Sales are down -5%, with a median sales price of $153,125.
• Foreclosure/REO Sales decreased -42.9 with a median sales price of $145,000.
• Short Sale Closings increased 204.4%, with a median sales price of $342,250 in August 2017.
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.
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