BREVARD REAL ESTATE MARKET WATCH: Median Sales Price for Single Family Home Up 20.9% to $314,250
By Bobby Freeman, Realtor // July 24, 2021
The median sales price for Brevard Single Family homes is up 20.9%
BREVARD COUNTY, FLORIDA– Brevard’s housing market continued the same trends as previous months with more closed sales, higher median prices, and more new listings compared to a year ago.
The median sales price for Brevard Single Family homes is up +20.9% to $314,250 compared to a year ago, which was $260,000.
“Inventory continues to remain low and buyer demand is still strong here on Florida’s Space Coast,” says Jennifer McCoy with McCoy Freeman Real Estate serving all of Florida’s Space Coast.
“If inventory and mortgage interest rates rise home price growth could begin to cool down,” says McCoy.
In Brevard, the monthly supply of inventory is down -57.1% to 0.9 months, a decrease from 2.1 months in June 2020.
According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 2.98% in June 2021, down from the 3.16% average during the same month a year earlier.
Recap of the Brevard County Single-Family Report for June 2021
■ Closed Sales are up +11.2% for June 2021 in which the number of units closed was 1,168 compared to 1,050 in June 2020, with an increase in cash sales of +68%.
■ New Pending Sales are down -19.3% and New Listings are up +23.7%.
■ The Median Sales Price for Brevard Single Family homes is up +20.9% to $314,250 compared to a year ago, which was $260,000.
■ Months Supply of Inventory is down -57.1% to 0.9 months, a decrease from 2.1 months in June 2020.
■ Traditional Sales are up +12.8%, with a median sales price of $315,000.
■ Foreclosure/REO Sales are down -58.8%, with 7 closed sales and a median sales price of $201,000.
■ Short Sale Closings are down -100% with 0 closed sales in June 2021 and 4 Closed sales in June 2020.
Recap of the Brevard County Townhouses & Condos Report for June 2021
■ Closed Sales are up +39.0% for June 2021 in which the number of units closed was 321 compared to 231 in June 2020, with an increase in cash sales of +33.9%.
■ New Pending Sales are down -16.1% and New Listings are up 34.5%.
■ Median Sales Price for Townhouses & Condos is up +6.7% to $232,000 compared to a year ago, which was $217,500.
■ Months Supply of Inventory is down -61.3% to 1.2 months in June 2021 from 3.1 months in Jun 2020.
■ Traditional Sales are up +38.1%, with a median sales price of $232,000.
■ Foreclosure/REO Sale reported, 1 closed sale and a median sales price of $307,500.
■ Short Sale Closings reported 1 closed sale in June 2021 and 0 closed sales in June 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.