REAL ESTATE REPORT: Median Sale Price for Brevard Single Family Home Up 13.6% to $290,000 Year-Over-Year
By Bobby Freeman, Realtor // May 25, 2021
Townhouses/Condos Closed Sales are up 87.1%
BREVARD COUNTY, FLORIDA – Brevard’s housing market remained strong in April, with more closed sales, higher median prices, more new pending sales and increased pending inventory compared to a year ago.
However, note that the April data is being compared to April 2020 – and the first statewide lockdown due to COVID-19 took effect April 1, 2020.
“The Space Coast real estate market continues to show fast-paced market conditions. Record low inventory and higher buyer demand are driving sales prices higher,” said Jennifer Mccoy of McCoy Freeman Real Estate serving all of Florida’s Space Coast.
“Hopefully more sellers will list their homes now that the pandemic is easing,” says McCoy.
Closed sales of single-family homes in Brevard in April totaled 1,099, up 43.3% year-over-year, while existing condo-townhouse sales totaled 348, up 87.1% over April 2020.
According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.06% in April 2021, significantly lower than the 3.31% average during the same month a year earlier.
Recap of Brevard County Residential Report for April 2021:
■ Closed Sales are up +43.3% for April 2021 in which the number of units closed was 1,099 compared to 767 in April 2020, with an increase in cash sales of +186.4%.
■ New Pending Sales are up +57.4% and New Listings are up +31.9%.
■ The Median Sales Price for Brevard Single Family homes is up +13.6% to $289,801 compared to a year ago, which was $255,000.
■ Months Supply of Inventory is down -69.0% to 0.9 months, a decrease from 2.9 months in April 2020.
■ Traditional Sales are up +43.0%, with a median sales price of $289,950.
■ Foreclosure/REO Sales are up +33.3%, with 8 closed sales and a median sales price of $288,500.
■ Short Sale Closings are up +300.0% with 4 closed sales and a median sales price of $159,750.
Recap of Brevard County Townhouses/Condos for April 2021:
■ Closed Sales are up +87.1% for April 2021 in which the number of units closed was 348 compared to 186 in April 2020, with an increase in cash sales of +150.0%.
■ New Pending Sales are up +93.7% and New Listings are up +56.2%.
■ Median Sales Price for Townhomes/Condos is up +18.3% to $254,389 compared to a year ago, which was $214,950.
■ Months Supply of Inventory is down -65.7% to 1.2 months in April 2021 from 3.5 months in April 2020.
■ Traditional Sales are up +89.1%, with a median sales price of $254,389.
■ Foreclosure/REO Sales are down -33.3%, with 2 closed sales and a median sales price of $275,500.
■ Short Sale Closings are unchanged with 0 closed sales in April 2021 and 0 closed sales in April 2020.
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.
For more information log on to BrevardRealtyConnection.com
TO SEE CONDO LISTINGS LOG ON TO CocoaBeachCondoGallery.com
CLICK HERE FOR BREVARD COUNTY NEWS