BOBBY FREEMAN: Median Sales Price For Single-Family Homes was $360,000 in April
By Bobby Freeman, Realtor // June 6, 2023
listings of existing single-family homes for sale down over 10% year-over-year
BREVARD COUNTY, FLORIDA – Brevard’s housing market in April showed continuing trends from the past few months, with more for-sale inventory (active listings) and higher median sales prices for condo-townhouse units compared to a year ago.
Across the Space Coast, economic factors like mortgage rates above 6%, and still rising – but easing – inflation impacted closed home sales.
New listings of existing single-family homes for sale were down over 10% year-over-year in April, as many potential sellers continue to find it hard to justify listing their homes when they’d have to face a much higher mortgage rate on their next purchase.
“More active listings are sparking buyers’ interest and providing more homeownership opportunities, says Jennifer McCoy with McCoy Freeman Real Estate serving all of Florida’s Space Coast.
“Our month’s supply of inventory is up over 133%. Even though this important number is up from last year, it still remains in the seller’s market category,” said McCoy.
The median price for existing Brevard single-family homes in April, meanwhile, was $360,000, which is exactly what it was last April.
This brings an end to a very remarkable more than 11-year stretch – that’s 135 months, to be exact – where the monthly median single-family home sale price in Brevard was up on a year-over-year basis.
In April, the median price for townhomes and condos was $300,000, a year-over-year increase of 4%.
Townhouse and condo inventory has remained relatively flat so far this year, but just as the case has been on the single-family side, it’s much higher than a year ago and yet, still much lower than it was before the pandemic, as well.
Recap of the Brevard County Residential Report for April 2023:
Recap of the Brevard County Townhouses/Condos for April 2023:
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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