MARKET WATCH: Median Sales Price for Brevard Single Family Homes Up 6.3% to $239,208

Median Sales Price for Townhomes/Condos is up 3.9% to $187,000 compared to a year ago

WATCH: The median sales price for Brevard single family homes is up 6.3% to $239,208 compared to a year ago, which was $225,000. During May, home sales accelerate while inventory hit a 34-month high.

BREVARD COUNTY, FLORIDA – The median sales price for Brevard single family homes is up 6.3% to $239,208 compared to a year ago, which was $225,000.

Florida’s housing market reported more sales, higher median prices and increased inventory (active listings) in April compared to a year ago, according to the latest housing data released by Florida Realtors.

Sales of single-family homes statewide totaled 26,992 last month, up 6.2% over April 2018.

In April, statewide median sales prices for both single-family homes and condo-townhouse properties rose year-over-year for the 88th consecutive month.

The statewide median sales price for single-family existing homes was $259,470, up 2.6% from the previous year.

“April was one of the strongest months for real estate sales here in Florida’s Space Coast,” says Jennifer McCoy, Broker-Associate for REMAX Elite’s McCoy-Freeman Group.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 4.47 percent in April 2019, compared to the 4.14 percent averaged during the same month a year earlier.

Recap of the Brevard County Residential Report for May 2019

• Closed Sales are up 16.2% for May 2019 in which the number of units closed was 1,096 compared to 943 in May 2018, with an increase in cash sales of 12.3% compared to May 2018.

• New Pending Sales are down -1.5% and New Listings are down -16.0%.

• The Median Sales Price for Brevard Single Family homes is up 6.3% to $239,208 compared to a year ago, which was $225,000.

• Months Supply of Inventory is down -3.2% to 3.0 months, a decrease from 3.1 months in May 2018.

• Traditional Sales are up 15.3%, with a median sales price of $240,000.

• Foreclosure/REO sales are up 92.9% with 27 sold in May 2019 compared to 14 sold in May 2018.

Recap of the Brevard County Townhouses/Condos for May 2019

• Closed Sales are down -1.7% for May 2019 in which the number of units closed was 297 compared to 302 in May 2018, with a decrease in cash sales of -9.3% compared to May 2018.

• New Pending Sales are down -7.2% and New Listings are down -8.6%.

• Median Sales Price for Townhomes/Condos is up 3.9% to $187,000 compared to a year ago, which was $179,950.

• Months Supply of Inventory increased 14.3% to 4.0 months in May 2019 from 3.5 months in May 2018.

• Traditional Sales are down -3.0%, with a median sales price of $189,000.

• Foreclosure/REO sales are up 400% with 5 sold in May 2019 compared to 1 sold in May 2018.

• Short Sale Closings did not occur. There were no sales in May 2019 or May 2019.

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.

For more information log on to BrevardRealtyConnection.com

TO SEE CONDO LISTINGS LOG ON TO CocoaBeachCondoGallery.com

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