Real Estate Average Sales Price Up 10 Percent In Brevard

According to the National Association of Realtors® (NAR) pending home sales rose in May to the highest level since late 2006, implying more evidence that the real estate market has turned around.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 6.7 percent to 112.3 in May from a downwardly revised 105.2 in April, and is 12.1 percent above May 2012 when it was 100.2; the data reflect contracts but not closings.

Contract activity is at the strongest pace since December 2006 when it reached 112.8; pending sales have been above year-ago levels for the past 25 months.

In Brevard County pending home sales rose over 25 percent in May compared to May 2012. The average sales price was up almost 10 percent for the same time period. The only decrease I see is the actual days on the market it takes to sell a property. Last year the average days on the market was at 93 and now properties are averaging 80 days.

‘FENCE JUMPING’ EFFECT……

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