2018 Brevard County Real Estate Market Report by Bobby Freeman

ABOVE VIDEO – Florida’s housing market reported higher median prices and increased inventory (active listings) in 2018 compared to a year ago, according to the latest housing data released by Florida Realtors®.

“The real estate market here on Florida’s Space Coast is starting to show signs of leveling inventory levels,” says Jennifer McCoy, Broker-Associate for REMAX Elite’s McCoy-Freeman Group serving all of Brevard County.

“With inventory levels up, buyers are having more properties to consider purchasing,” says McCoy.

A quick recap of the Brevard County Residential Report for 2018

Closed Sales are up 1.2% for 2018 in which the number of units closed was 9,917 compared to 9,796 in 2017, with a decrease in cash sales of -5.8% compared to 2017.

New Pending Sales are down -1% and New Listings are up 6.5%.

The Median Sales Price for Brevard Single Family homes is up 8.6% to $228,000 compared to a year ago, which was $210,000.

Months Supply of Inventory is up 25.9% to 3.4 months, an increase from 2.7 months in 2017.

Traditional Sales are up 3.4%, with a median sales price of $230,000.

Foreclosure/REO Sales are down -38.3%, with a median sales price of $145,900.

Short Sale Closings are down -44.4%, with a median sales price of $160,125.

A quick recap of the Brevard County Townhouses/Condos for 2018

Closed Sales are up 7.9% for 2018 in which the number of units closed was 2,823 compared to 2,617 in 2017, with an increase in cash sales of 3% compared to 2017.

New Pending Sales are up 4.3% and New Listings are up 9.9%.

Median Sales Price for Townhomes/Condos is up 10.2% to $173,000 compared to a year ago, which was $157,000.

Months Supply of Inventory increased to 3.8 months in 2018 from 3.3 months in 2017.

Traditional Sales are up 10%, with a median sales price of $174,900.

Foreclosure/REO Sales are down -50% with a median sales price of $112,000.

Short Sale Closings are down -11.1% in 2018 with a median sales price of $146,000.

Like what you see? Share this with a friend!