Brevard County, Florida Residential Real Estate Market in 2012 – What it was…
Although 2012 is not yet over (about 25 days left), the residential real estate trends for 2012 in Brevard County are pretty obvious with about 93% of the year already in the books.
So far in 2012 7,020 residential units have been sold during 2012 with an average selling price of $147,023. The average days on the market per unit is 89 days with the eventual selling price being 95% of the final listing price.
Of the 7,020 residential properties sold so far about 20% (1,371) have been short sales. Short sales take longer as demonstrated by the 158 days on market per sold unit. The average selling price for short sales in 2012 has been $112,398.
Foreclosures made up a smaller share of the residential market in 2012 with 559 units sold (about 8%). Foreclosures are typically priced lower so the average selling price was much lower – $89,392. Also these REO units sold for 97% of the final listing price.
With 2013 approaching and prices beginning to rise, it may just be the time to get off the fence if you have been considering a home purchase!