BREVARD REAL ESTATE REPORT: More Closed Sales, Higher Median Prices and More New Listings

Single-Family Home Median price Up 11.2 percent

ABOVE VIDEO: The April 2018 RE/MAX National Housing Report.

BREVARD COUNTY, FLORIDA – The Brevard County median sales price in April for a single-family home was up 11.2% to $227,500 compared to a year ago, which was $204,655.

Florida’s housing sector reported more closed sales, higher median prices and more new listings from owners ready to enter the market, according to the latest housing data released by Florida Realtors.

April was the 76th month in a row that the statewide median sales prices for both single-family homes and townhouse-condo properties rose year-over-year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations.

The median is the midpoint; half the homes sold for more, half for less.

“Demand for property here on Florida’s Space Coast continues to remain very strong,” said Jennifer McCoy, Broker-Associate for REMAX Elite’s McCoy-Freeman Group.

“Properties that are priced fair and aggressively advertised to the most buyers are selling within the first week on the MLS” says McCoy.

Recap of the Brevard County Residential Report for April 2018:

• Closed Sales are up 12.7% for April 2018 in which the number of units closed was 907 compared to 805 in April 2017, with a decrease in cash sales of -6.7% compared to April 2017.
• New Pending Sales are down -0.7% and New Listings are up 7.7%.
• The Median Sales Price for Brevard Single Family homes is up 11.2% to $227,500 compared to a year ago, which was $204,655.
• Months Supply of Inventory is up 16% to 2.9 months, an increase from 2.5 months in 2017.
• Traditional Sales are up 17.4%, with a median sales price of $228,000.
• Foreclosure/REO Sales are down -64.1%, with a median sales price of $138,750.
• Short Sale Closings are down -71.4%, with a median sales price of $133,250.

Recap of the Brevard County Townhouses/Condos for April 2018:

• Closed Sales are up 7.2% for April 2018 in which the number of units closed was 253 compared to 236 in April 2017, with an increase in cash sales of 0.8% compared to April 2017.
• New Pending Sales are up 15.5 % and New Listings are up 6.8%.
• Median Sales Price for Townhomes/Condos is up 18.8% to $190,000 compared to a year ago, which was $160,000.
• Months Supply of Inventory has decreased to 3.5 months in April 2018 from 3.7 months in April 2017.
• Traditional Sales are up 6.9%, with a median sales price of $192,000.
• Foreclosure/REO Sales are up 100% with a median sales price of $98,000.
• Short Sale Closing statistics are down -100%, as there were no short sales in April 2018 and one in April 2017.

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.

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