Florida and Brevard Real Estate Market Report June 2020
Florida’s housing market in June showed positive signs of recovery despite the continuing coronavirus pandemic, with more new pending sales, more pending inventory, and higher median sales prices compared to a year ago, according to Florida Realtors® latest housing data. Single-family existing homes sales increased year-over-year, up by 1.3% – the first increase since March and a significant change compared to April and May.
In June, the statewide median sales prices for both single-family homes and condo-townhouse properties rose year-over-year for 102 consecutive months. The statewide median sales price for single-family existing homes was $282,000, up 4.4% from the previous year.
“Homeownership is now more important than it ever has been,” says Jennifer McCoy Broker/Owner of McCoy Freeman Real Estate serving all of Florida’s Space Coast.
A quick recap of the Brevard County Residential Report for June 2020
Closed Sales are up +13.6% for June 2020 in which the number of units closed was 1,050 compared to 924 in June 2019, with a decrease in cash sales of -1.7% compared to June 2019
New Pending Sales are up +30.6% and New Listings are down -2.8%
The Median Sales Price for Brevard Single Family homes is up +4.8% to $260,000 compared to a year ago, which was $248,000
Months Supply of Inventory is down -27.6% to 2.1 months, a decrease from 2.9 months in June 2019
Traditional Sales are up +12.6%, with a median sales price of $262,750
Foreclosure/REO Sales are up +88.9%, with 17 sales and a median sales price of $157,500
Short Sale Closings are up +300.0% with 4 closed sales in June 2020 compared to 1 closed sale in June 2019
A quick recap of the Brevard County Townhouses/Condos for June 2020
Closed Sales are down -3.3% for June 2020 in which the number of units closed was 231 compared to 239 in June 2019, with an increase in cash sales of +15.0% compared to June 2019
New Pending Sales are up +11.1% and New Listings are down -22.8%.
Median Sales Price for Townhomes/Condos is up +8.8% to $217,500 compared to a year ago, which was $200,000
Months Supply of Inventory is down -20.5% to 3.1 months in June 2020 from 3.9 months in June 2019
Traditional Sales are down -1.7%, with a median sales price of $217,500
Foreclosure/REO Sales are down -100.0%, with 0 sales and a median sales price of $0
Short Sale Closings are down -100.0% with 0 closed sales in June 2020 compared to 1 closed sale in June 2019.
Brevard County Single-Family Homes June 2020