REAL ESTATE REPORT: Median Sales Price for Brevard Single-Family Homes Up 8.9% to $270,000
By Bobby Freeman, Realtor // January 25, 2021
Brevard Median Sales Price for Townhomes/Condos is up 16.2% to $223,000
BREVARD COUNTY, FLORIDA – Despite the ongoing pandemic and a still struggling jobs outlook, Brevard County’s housing market in December showed more closed sales, more new pending sales, higher median prices, and more new listings compared to a year ago. Single-family existing-home sales rose 15.8% compared to a year ago.
“The strength and resilience of the Space Coast housing market continue to be remarkable,” said Jennifer McCoy of McCoy-Freeman Real Estate serving all of Florida’s Space Coast.
“Most of my recent sales have been to out-of-the-area buyers looking to purchase a piece of the Space Coast lifestyle.”
The statewide median sales prices for both single-family homes and condo-townhouse properties rose year-over-year in December for 108 consecutive months.
Nationally, existing-home sales surged in 2020, up 5.9 percent from the year previous and to a level unseen since the Great Recession.
According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 2.68% in December 2020, significantly lower than the 3.72% averaged during the same month a year earlier.
Recap of the Brevard County Residential Report for December 2020
■ Closed Sales are up +15.8% for December 2020 in which the number of units closed was 1,034 compared to 893 in December 2019, with an increase in cash sales of +21.4% compared to December 2019.
■ New Pending Sales are up +19.5% and New Listings are up +8.9%.
■ The Median Sales Price for Brevard Single Family homes is up +8.9% to $270,000 compared to a year ago, which was $248,000.
■ Months Supply of Inventory is down -46.2% to 1.4 months, a decrease from 2.6 months in December 2019.
■ Traditional Sales are up +17.5%, with a median sales price of $271,000.
■ Foreclosure/REO Sales are down -66.7%, with 7 closed sales and a median sales price of $209,900.
■ Short Sale Closings are up with 2 closed sales and a median sales price of $328,050 compared to 0 closed sales in December 2019.
Recap of the Brevard County Townhouses/Condos for December 2020
■ Closed Sales are up +3.6% for December 2020 in which the number of units closed was 261 compared to 252 in December 2019, with an increase in cash sales of +16.9% compared to December 2019.
■ New Pending Sales are up +33.9% and New Listings are down -1.7%.
■ Median Sales Price for Townhomes/Condos is up +16.2% to $223,000 compared to a year ago, which was $191,850.
■ Months Supply of Inventory is down -28.1% to 2.3 months in December 2020 from 3.2 months in December 2019.
■ Traditional Sales are up +4.4%, with a median sales price of $223,000.
■ Foreclosure/REO Sales are down -100.0%, with 0 closed sale compared to 2 closed sale in December 2019.
■ Short Sale Closings are unchanged with 0 closed sales in December 2020 and 0 closed sales in December 2019.
ABOUT THE AUTHOR
Bobby Freeman, a lifetime resident of Brevard County, has been a top Realtor in the area for over 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 from some of the largest real estate firms in the world.
Freeman, Jennifer McCoy and Nikki McCoy-Freeman are family owners of the McCoy-Freeman Real Estate Group on Florida’s Space Coast. Together they have more than 40 years of extensive experience in all aspects of the real estate industry, have sold over $420 million and are ranked in the top 1% of all Florida Realtors.
Among McCoy-Freeman Group’s achievements are 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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