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Sunday, October 09, 2011

Sonoma in Viera (Melbourne, Florida)–Another Distressed Market in Brevard County

Thirteen months ago I posted an article on this blog titled Sonoma in Viera Florida – Short Sales Dominate Market in Brevard County Florida.   Click on the link for a bit more background on the Sonoma in Viera subdivision.

The title of this post is an indicator that things have not changed a great deal in Sonoma in Viera – except prices are lower now.

In September 2009 58% of the active listings were short sales.

On October 9, 2011, six of nine (66%) of the active listings are distressed properties [5 short sales, 1 foreclosure].  Of the four properties under contract today, three are short sales.

However, the list prices for homes in Sonoma are lower now.  Three of the homes for sale in Sonoma are under $174,000 [one is a pool home].

Another indicator of the Sonoma market is two of the three homes sold since September 16, 2011 were foreclosures [the other was a corporate relocation].

Anyone looking for a gated community in Viera, Florida should consider Sonoma in Viera – if a short sale is a consideration.

For information on homes for sale in Viera and Rockledge, Florida, call me at 321-693-3850 or email me.

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