REALTOR: Zillow Has Conflicting Real Estate Market Reports for Brevard County
By Bobby Freeman, Realtor // April 24, 2018
'BREVARD COUNTY IS A SELLER'S MARKET'
BREVARD COUNTY REALTOR BOBBY FREEMAN: Zillow has conflicting market reports for Brevard County.
Here are the facts regarding Brevard’s real estate market:
• Home prices continue to rise in single-family homes, condos, and townhomes
• Properties are selling faster
• We are in a sellers’ market. Period.
However, Zillow has conflicting market reports for Brevard County. For those ‘Zillowholics’ ( those who truly believe Zillow is 100 percent correct) please visit zillow.com and see for yourself.
First, search for Cocoa, FL or zip code 32922. Click on any listing. Then scroll down to “Neighborhood 32922.” You will notice Zillow states in this area the “Market Temp.”
Zillow says zip code 32922 is a “Very Hot/Sellers” market. This is correct, we are in a sellers’ market. Now let’s move a little east and visit the Merritt Island, zip code 32953.
Less than a mile away and a short drive over the bridge the real estate market is now “Cool” in Merritt Island according to Zillow which means we are in a buyers’ market.
If this was true and not fake news, then buyers could purchase a direct river condo at Island Pointe for pennies on the dollar compared to Whitley Bay in Cocoa, also a direct river community. Both were actually built by the same developer in 2004.
Now let’s head beachside to Cape Canaveral where the real estate market is, hands down, in a sellers’ market. But wait, the almighty Zillow god says it’s actually a “Cold” buyers’ market.
Wow, so it’s Hot in Cocoa but Cold in Cape Canaveral? I don’t think so. It is actually a sellers’ market everywhere on Florida’s Space Coast.
How about south Melbourne Beach south of 192? I remember when I was a teenager driving down to Spanish House to surf some fun waves. There basically were no homes or condos in that area.
Now there are many multi-million dollar homes, lots of development and another area considered a sellers’ market. However, according to Zillow, it’s a “Very Cold/Buyers’ Market.” I bet those multi-million dollar homes will soon be selling for $100,000.
In my opinion, Zillow is mostly wrong regarding what type of market we are currently in here on Florida’s Space Coast.
So for all of those Zillowholics that need professional real estate counseling, please give me a call at 321-693-1694, Bobby Freeman with REMAX Elite’s McCoy-Freeman Group.
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