BOBBY FREEMAN: Median Sales Price For Single-Family Homes in Brevard Was $375,000 in June
By Bobby Freeman, Realtor // July 31, 2024
mortgage rates remain in the same at 7%
BREVARD COUNTY, FLORIDA – Brevard’s housing market in June showed rising inventory levels (active listings), more new listings, and moderating median sales prices compared to a year ago.
“Brevard County’s thriving economy and desirable lifestyle continue to draw individuals looking to reside and work in the Sunshine State,” said Jennifer McCoy, Broker-Associate with McCoy Freeman Compass.
“Factors such as increased mortgage rates and rising property prices are impacting home sales, despite the demand from prospective buyers.”
Last month, closed sales of existing single-family homes countywide totaled 1,018, down 11% year-over-year, while existing condo-townhouse sales totaled 248, down 21% over June 2023.
The countywide median sales price for single-family existing homes in June was $375,000, up 2.7% compared to June 2023, while the countywide median price for condo-townhouse units was $289,000, down 4.3% from a year ago.
“So far this year, the number of active listings for single-family homes on the market has increased by over 77%” stated Nikki McCoy Freeman of McCoy Freeman Compass.
“As for townhouses and condos, active listings have seen a year-to-date rise of over 86.3%,” says McCoy Freeman.
On the supply side of the market, single-family existing homes were at a 4.1-month supply in June, while condo-townhouse properties were at a 7.4-month supply.
This means that there is a relatively equal balance between the number of homes available for sale and the current level of buyer demand.
Mortgage rates inched higher this week, keeping the average rate on a 30-year mortgage essentially flat and near the 7% range it’s been in most of this year.
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
Related Story:Brevard’s McCoy Freeman Real Estate Now Affiliated With Compass, Nation’s Largest Residential Real Estate Brokerage
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