Brevard County Florida Nov 2018 Real Estate Market Report


 

Florida’s housing market reported more sales, more new listings and higher median prices in November compared to a year ago, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 20,578 last month, up 3 percent compared to November 2017.

November marked 83 months-in-a-row (more than six and a half years) that statewide median sales prices for both single-family homes and condo-townhouse properties increased year-over-year.

A quick recap of the Brevard County Residential Report for November 2018:

Closed Sales are down -9.2% for November 2018 in which the number of units closed was 683 compared to 752 in November 2017, with a decrease in cash sales of -17.1% compared to November 2017.

New Pending Sales are down -14.7% and New Listings are up 1.9%.

The Median Sales Price for Brevard Single Family homes is up 3.3% to $225,295 compared to a year ago, which was $218,000.

Months Supply of Inventory is up 25% to 3.5 months, an increase from 2.8 months in 2017.

Traditional Sales are down -7.9%, with a median sales price of $230,000.

Foreclosure/REO Sales are down -30%, with a median sales price of $145,000.

Short Sale Closings are down -75%, with a median sales price of $300,000.

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

Closed Sales are down -1.5% for November 2018 in which the number of units closed was 192 compared to 195 in November 2017, with a decrease in cash sales of -11.9% compared to November 2017.

New Pending Sales are down -15.8% and New Listings are up 8.6%.

Median Sales Price for Townhomes/Condos is up 3.3% to $165,250 compared to a year ago, which was $160,000.

Months Supply of Inventory increased to 3.8 months in November 2018 from 3.4 months in November 2017.

Traditional Sales are down -0.5%, with a median sales price of $174,940.

Foreclosure/REO Sales were down -11.1% with a median sales price of $87,000.

Short Sale Closings are down -50% with a median sales price of $128,000 in November 2018.

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