May 2025 Space Coast Housing Market Update | Bobby Freeman Compass

ABOVE VIDEO: Bobby and Nikki McCoy Freeman — trusted real estate experts on Florida’s Space Coast — share what’s really happening in the Cocoa Beach, Viera, and Cape Canaveral markets this May.

🏡 May 2025 Space Coast Market Update – From Bobby Freeman

Is the market finally tilting in favor of buyers? Or are sellers still holding the upper hand? Let’s break down what’s really happening on Florida’s Space Coast — and what it means for you if you’re thinking about buying or selling.

I’m Bobby Freeman with McCoy Freeman Compass, and here’s what I’m seeing across Cocoa Beach, Viera, Melbourne, and the surrounding areas this May.

📉 Fewer Sales, But Prices Are Holding

Overall, closed sales for single-family homes on the Space Coast dipped slightly — down about 1.4% compared to this time last year. But the median sales price held firm at $375,000, which tells us demand is still out there, especially for well-maintained and properly priced homes.

For sellers: Pricing your home right is critical. The days of throwing a high number on it and getting multiple offers are slowing down — but if you’re priced competitively, your home will still move.
For buyers: This is a great time to shop. Prices aren’t skyrocketing like they were in recent years, and you have more room to negotiate.

📦 Inventory Is Growing

The months’ supply of inventory rose to 4.6 months for single-family homes — a 21% jump from last year. In the condo and townhouse market, it’s even higher — up to 8.8 months, which is a big indicator of a buyer’s market.

What this means: More homes are sitting on the market longer, giving buyers more options and leverage. Sellers, on the other hand, may need to be more flexible on price or repairs to stay competitive.

💰 Cash Is Still King

We saw an 11% increase in cash buyers in the single-family home segment — especially common in beachside areas like Cocoa Beach and Cape Canaveral.

For sellers: If your home appeals to second-home buyers, retirees, or investors, highlighting move-in readiness and coastal value can be a major advantage.
For buyers: If you’re financing, be ready to compete with cash. Get pre-approved and work with an agent who can help you move quickly and strategically.

🎯 My Take

We’re in a more balanced market now — not quite a buyer’s market, but no longer the feeding frenzy of the last few years. Sellers need to be sharp on pricing and presentation, while buyers can take a bit more time to evaluate their options — but not too long.

Whether you’re thinking about selling or making a move, I’d love to walk you through a strategy that works in today’s market.

👉 Let’s talk about what’s possible for your real estate goals.
I’m Bobby Freeman with McCoy Freeman Compass — your local Space Coast real estate expert.

🧠 Frequently Asked Questions – Space Coast Real Estate (May 2025)

❓ Is the Space Coast real estate market cooling off in 2025?

Not exactly — it’s shifting toward a more balanced environment. Inventory is rising and homes are taking longer to sell, but prices are mostly holding steady. It’s no longer a seller’s frenzy, but not yet a buyer’s market either.

❓ What does higher inventory mean for Cocoa Beach condo sellers?

Increased inventory means more competition. If you’re selling a condo in Cocoa Beach or Cape Canaveral, you’ll need to price strategically, ensure the unit shows well, and market it effectively to attract serious buyers.

❓ Are homes in Viera still in demand?

Yes — Viera continues to be a strong market, especially for families and buyers looking for newer homes. While inventory is rising slightly, homes that are well-priced and move-in ready are still selling quickly.

❓ Is now a good time to buy a home on the Space Coast?

Yes, if you’re a buyer, this is a great time to act. There are more choices, less competition, and some sellers are open to negotiation — especially on condos with longer days on market.

❓ How important is cash in today’s market?

Very important. Cash buyers are still active, especially near the coast. If you’re financing, getting pre-approved and working with a knowledgeable local agent gives you a better shot at winning offers.

❓ What can sellers do to stand out in a shifting market?

Sellers should work with an experienced local agent to price their home accurately, stage it for maximum appeal, and launch a strong marketing strategy. Professional photos, video, and online exposure make a huge difference — especially for condos and higher-end properties.