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Monday, June 07, 2010

Surprise! Short Sales Dominant Force in Brevard County Florida Real Estate Market in May 2010

Short sales (and foreclosures) remained a market force in Brevard County Florida real estate activity in May 2010.  This is not a surprise to anyone familiar with Florida real estate these days! 

The below numbers refer only to single family homes – no condos or townhomes. 

Of the 556 single family homes sold in May 20010 about 105 (about 195 of total) of these required third party approval (short sales and foreclosure).  

The area where the greatest number of short sales sold in May 2010 was Palm Bay (southern Brevard County) where there were 37 sold. 

Southern Brevard still remains the largest market for short sales with about 28% of all the active short sales located in Palm Bay (398 active of 1,183 total). This makes sense when you realize that during the run-up a lot of new construction at high prices sold in Palm Bay.

A couple of central Brevard County areas of note:
  • Viera – 22 sold (5 short sales),
  • Suntree – 9 sold (1 short sale),
  • Rockledge – 26 sold (3 short sale)
For information on short sales in Brevard County Florida, send me an email. I will be happy to email you some listings and information. 

Gary L. Waters, PLLC, Realtor, Century 21 Baytree Realty, Rockledge, Florida, serving buyers and sellers in Brevard County, Florida.

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