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Monday, February 06, 2012

Brevard County Florida Real Estate Market–February 2012 Observations

Want to know how the Brevard County Florida Real Estate Market looks...?  Here are a few observations as February gets into full swing.

Inventory is tightening up.  What will it do to prices?
  • There are 2,501 single family homes for sale in Brevard County Florida on February 6, 2012.
  • There are 640 active single family homes that are short sales (about a third of these (231) are located in Palm Bay).
  • There are 155 active single family listings that are foreclosures (bank owned).
Rental rates may be heading up as inventory may be shrinking? 
  • There are only 1,107 active rental properties.
Residential properties sold in January 2012 – 409 properties.  Average selling price of single family homes was $140,772.

Real Estate Trivia.....
  • The highest priced home listed for sale in Brevard County is listed at $7,900,000.  It has almost 10,000 sq.ft. living area and a bathroom and bedroom for every million dollars of list price (7/7).  Not sure who the buyer will be...maybe a foreign buyer looking for a vacation home in Florida since the dollar is down.
  • There are 13 listings for more than $2,000,000 with almost half located in Melbourne Beach.  No surprise ten of them are beach side waterfront homes. 
It is a good time to buy in Brevard County as prices are low, interest rates are low, and many sellers are motivated. 


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