Brevard Housing Market Wrapped Up 2021 With More Sales, Higher Median Sale Prices

single-family homes sales are up 9.8%, Median Sales Price now $326,350

BREVARD COUNTY, FLORIDA – Despite the ongoing COVID-19 pandemic and continuing economic stressors over the year, Brevard’s housing market wrapped up 2021 with more sales and higher median sale prices compared to 2020.

“The historic small amount of available inventory for sale and strong buyer demand continues to fuel a seller’s market here on Florida’s Space Coast,” said Jennifer McCoy with McCoy Freeman Real Estate.

“Month’s supply of inventory is down over 35% compared to this time last year for single-family homes.”

Closed sales for single-family homes are up 9.8% for 2021 in which the number of units closed was 12,581 compared to 11,457 in 2020 with an increase in cash sales of +48.7% in Brevard.

“I am dealing with a lot more cash buyers from other areas compared to years ago,” said McCoy

The interest rate for a 30-year fixed-rate mortgage averaged 2.96% for 2021, down from the previous year’s average of 3.11%, according to Freddie Mac.

Recap of the Brevard County Residential Report for December 2021:

■ Closed Sales are down -0.5% for December 2021 in which the number of units closed was 1,099 compared to 1,104 in December 2020, with an increase in cash sales of +26.8%.

■ New Pending Sales are up +5.2% and New Listings are down -0.8%.

■ The Median Sales Price for Brevard Single Family homes is up +19.0% to $326,350 compared to a year ago, which was $274,160.

■ Months’ Supply of Inventory is down -35.7% to 0.9 months, a decrease from 1.4 months in December 2020.

■ Traditional Sales are down -0.4% with a median sales price of $327,325.

■ Foreclosure/REO Sales are up +14.3% with 8 closed sales and a median sales price of $192,500.

■ Short Sale Closings are down -100% with 0 closed sales and a median sales price of (no sales).

Recap of the Brevard County Townhouses/Condos for December 2021:

■ Closed Sales are up +7.1% for December 2021 in which the number of units closed was 288 compared to 269 in December 2020, with an increase in cash sales of +34.6%.

■ New Pending Sales are up +6.9% and New Listings are down -16.5%.

■ Median Sales Price for Townhomes/Condos is up +20.1% to $268,000 compared to a year ago, which was $223,063.

■ Months’ Supply of Inventory is down -54.2% to 1.1 months in December 2021 from 2.4 months in December 2020.

■ Traditional Sales are up +7.1% with a median sales price of $268,000.

■ Foreclosure/REO Sales are N/A with a median sales price of (no sales).

■ Short Sale Closings are N/A with 0 closed sales in December 2021 and 0 closed sales in December 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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