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Wednesday, September 09, 2009

Help, I have fallen and can't get up....A look at 5 years of sales at Viera's Capron Trace Development

Capron Trace is a very nice subdivision in Brevard County, Florida's premier planned unit development of Viera.

Over the past five years real estate prices have been dropping.

In this unofficial study of home prices in Capron Trace I took a look at the sold three bedroom and two bath homes in Capron Trace.

I did not factor in square footage although there is not a lot of variance. These are sold properties I extracted from the Brevard MLS.

The story the numbers tell is probably similar to most every neighborhood in Brevard County, Florida – prices have dropped!

  • In 2005 they were selling for about $350,000...
  • 2006 the price dropped to just above $300,000...
  • then in 2007 the price was near the $250,000 mark....
  • in 2008 the price was below $215,000 and now,
  • in 2009 the price is under $200,000!

Have prices bottomed out? I do not have a crystal ball however I do know that a 4 bedroom 2 bath home in Capron Trace closed recently for $180,000. It was a bank owned/foreclosure!

The above numbers do not reflect every single sale in this development over the past five years but the trend is accurate.

If you are considering buying or selling Viera, give me a call to discuss how I can assist you.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Email me at agent@moving2brevard.com or call me at 321-693-3850.

It is a good time to be a buyer and to take advantage of the First Time Home Buyer $8,000 tax credit!


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