Inventory is not what it once was…
How many single family homes are on the market in Brevard County, Florida on February7, 2012? Only 2511. That still sounds like a lot, doesn’t it?
When you consider there were 376 single family homes that sold in January 2012 that would make the market inventory about 6.8 months – actually slightly less if you take the 122 single family home 55+ community listings out of the general active population.
Looking at one of the more popular areas of the county only, **Viera, you find 244 active single family homes for sale.
Seems like a lot but subtract the 122 located in the various Viera 55+ communities (Indian River Colony Club has the most), you only have 122 single family homes for sale in Viera. Very easy math here, half of the single family homes for sale in Viera are in the 55+ communities.
How many single family homes sold in Viera in January 2012? Thirty six (36). How many of these homes sold were in 55+ communities? Six (6).
So the reality is there is not as much choice within the Viera area as many buyers would like to believe. This is a good sign for sellers – eventually. After all, the over used phrase about location still holds much truth!
And although short sales do influence market prices, don’t look for a lot of influence in Viera at this time as there are only 24 active short sale single family home listings in the Viera area!
Viera offers its residents so much to choose from including excellent schools, shopping, recreation, restaurants and more.... and buyers may have to pay a little more for it as inventory shrinks!
For information on homes for sale in Viera and Suntree, give me a call at 321-693-3850 or email me.
** Viera is used in this context as the areas west of I-95 and east of I-95 and north of Wickham Road (which includes a small portion of Suntree as well.