BREVARD REAL ESTATE REPORT: Listings Increase for Single-Family Homes, Median Sales Price Up 21.0% to $325,000

new listings for condos are down over 2.8%

Median Sales Price for Townhouses & Condos is up +17.6% to $261,868 compared to a year ago, which was $222,750.

BREVARD COUNTY, FLORIDA – The Brevard housing market reported higher median prices, more new listings, and a rise in all-cash sales in August compared to a year ago.

“The current data shows that new listings continue to increase for single-family homes here on the Space Coast,” said Jennifer McCoy with McCoy Freeman Real Estate serving all of Florida’s Space Coast.

“However, new listings for condos is down over 2.8% and active inventory is down over 36%. This means we are still very deep into seller’s market territory and it continues to be a long road back to a balanced market.”

The median time to contract for single-family homes in 8 days, down 61.9% from last year.

Closed sales of single-family homes were up 7.9% compared to a year ago, which is impressive given the rate at which homes were selling at this time last year.

The market for condos and townhouses, however, remains the hotter market for now. August sales in this property type category were up over 11 percent year-over-year.

Recap of the Brevard County Single-Family Report for August 2021

■ Closed Sales are up +7.9% for August 2021 in which the number of units closed was 1,069 compared to 991 in August 2020, with an increase in cash sales of +61.9%.

■ New Pending Sales are up +3.2% and New Listings are up +23.5%.

■ The Median Sales Price for Brevard Single Family homes is up +21.0% to $325,000 compared to a year ago, which was $268,500.

■ Months’ Supply of Inventory is down -38.9% to 1.1 months, a decrease from 1.8 months in August 2020.

■ Traditional Sales are up +8.4%, with a median sales price of $325,000.

■ Foreclosure/REO Sales are down -33.3%, with 8 closed sales and a median sales price of $245,080.

■ Short Sale Closings are 0.0% with 2 closed sales in August 2021 and 2 closed sales in August 2020.

Recap of the Brevard County Townhouses & Condos Report for August 2021

■ Closed Sales are up +11.1% for August 2021 in which the number of units closed was 300 compared to 270 in August 2020, with an increase in cash sales of +21.4%.

■ New Pending Sales are down -10.7% and New Listings are down -2.8%.

■ Median Sales Price for Townhouses & Condos is up +17.6% to $261,868 compared to a year ago, which was $222,750.

■ Months’ Supply of Inventory is down -48.1% to 1.4 months in August 2021 from 2.7 months in August 2020.

■ Traditional Sales are up +10.8%, with a median sales price of $263,660.

■ Foreclosure/REO Sales are N/A, with 1 closed sale and a median sales price of $170,000.

■ Short Sale Closings are 0.0% with 1 closed sale in August 2021 and 1 closed sale in August 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.

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