BOBBY FREEMAN: Median Sales Price For Single-Family Homes in Brevard Was $385,000 in August

New condo-townhouse listings were up 3.9% compared to last year

BREVARD COUNTY, FLORIDA – In August 2024, Brevard’s housing market saw an uptick in new listings, a moderation in median sales prices, and an improvement in inventory levels compared to the previous year.

“As home prices stabilize and inventory levels rise, it should encourage more new listings and provide potential homebuyers with greater options,” said Nikki McCoy Freeman with McCoy Freeman Compass, serving Florida’s Space Coast.

“Additionally, lower mortgage interest rates will enhance buying power and address affordability concerns.”

Countywide, closed sales of existing single-family homes totaled 912, reflecting a 2.6% decrease year-over-year. Existing condo-townhouse sales amounted to 187, marking a 24.3% decline from August 2023.

The countywide median sales price for single-family existing homes in August was $385,000, an increase of 4.1% from a year ago. Meanwhile, the median price for condo-townhouse units was $280,000, down 16.9% from August 2023.

“New listings of single-family homes in August were up by 2.6% compared to a year ago, representing the smallest year-over-year increase in this category for 2024,” Freeman noted.

“New condo-townhouse listings were up 3.9% compared to last year.”

“Throughout this year, new listings have aligned more closely with pre-pandemic levels seen in 2018 and 2019, rather than last year’s counts. However, by the end of last year, new listings, which had underperformed for most of the year, improved to levels similar to late 2018 and 2019.

Therefore, it wouldn’t be surprising to see this year’s new listings reach comparable levels toward the year’s end” says McCoy Freeman.

On the supply side, the market had a 4-month supply of single-family existing homes and a 6.4-month supply of condo-townhouse properties in August 2024.

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

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