Buyers who enter the real estate market are usually in the market for only a single type of sale based on their time line and goals: standard sale, short sale or foreclosure. So perhaps separating these types of sales allows them to get a clearer picture of the Brevard County real estate market.
[Admittedly some buyers will hope for a steal with a foreclosure until they understand the real differences between a foreclosure and other properties! Don't know the difference, email me.]
The problem facing fair market sellers is they must compete with everything on the market, especially the short sales.
Are there multiple Markets? You can decide for yourself...
- Closed in October: 79
- Average Days on Market: 158
- Average Selling Price: $143,571
- List to Sell Ratio: 95%
- % Cash Buyers: 44%
- Median List Price: 119,900
- Median Sell Price: 114,000
- Closed in October 2010: 393
- Average Days on Market: 102
- Average Selling Price: $133,077
- List Sell Ratio: 93%
- % Cash Buyers: 49.9%
- Median List Price: 99,800
- Median Sell Price: $94,000
- Closed in October 132
- Average Selling Price: $63,972
- List to Sell Ratio: 93%
- Average Days on Market: 53
- New REO listings in October: 218
- % Cash Buyers: 73%
So what is it? One, two or three different markets? In my opinion it is a three-legged stool!