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Saturday, January 12, 2013

Residential Sales Brevard County, Florida - 4th Quarter 2011 vs. 4th Quarter 2012

2012 Residential Sales Brevard County, Florida - 4th Quarter 2011 vs. 4th Quarter 

In the last quarter of 2011 there were 1,602 residential properties sold in Brevard County.  One year later (10/01/12 to 12/31/12) there were 1,918 residential sales reported in the Brevard Realtors® MLS system. Summary – sales up.

The average days on market in 2011 (111 days) was quite a bit less than the last quarter of 2012 (76 days). Summary – good direction.

The average selling price for residential properties in 2011 was $137,632.  In 2012’s last quarter the average selling price was $150,600.  Summary – another positive indicator.

Months supply at the end of 2011 was 7.4 months, in 2012 its 2.4 months.  Summary – good for sellers.

A couple of other positive indicators for the Brevard County residential market as 2013 starts…
  1. About half as many residential short sales closed in the last quarter of 2012 (191 vs. 464 in 2011).
  2. Months supply of short sales in 2011 was 9.2 months.  In 2012 the number was 2.4 months.
So where is the Brevard County residential market headed in 2013… my guess is toward a seller’s market.

Considering buying a house or condo in Brevard County, Florida?  This may be the time to move forward.


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