Brevard Real Estate Market Report April 2023 by Bobby Freeman Realtor
by Bobby Freeman Realtor
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” says 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 town home 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.
Brevard Single-Family Homes April 2023
Brevard Town Homes and Condos April 2023
