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Thursday, December 06, 2012

Brevard County, Florida Residential Real Estate Market in 2012–What it was…

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!

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