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Wednesday, May 15, 2013

Is the Brevard County, Florida Residential Market Returning to Normal?

Some still think the residential real estate market in Brevard County, Florida is a distressed market where every property is a fire sale!

Public opinion very often shifts at a turtle's pace.

There are 2,535 active residential property listings as of today in Brevard County.  Of these about 9% are listed as short sales and another 16.5% are listed as foreclosures.

What percentage of  the 836 residential properties sold in April 2013 were distressed properties?  Residential short sales sold in April totaled 106 properties (13% of all sales).  Foreclosures accounted for about 25% of the closings (207 properties). 

So, is the Brevard County, Florida residential market returning to normal?   

What do you mean by normal?  There will always be short sales and foreclosures.  I do not know how many of these exist in a normal market?

All I know for sure today is, in May 2013, three of four active residential listings in Brevard County, Florida are standard sales (fair market).

As summer approaches those looking to purchase a residential property in Brevard will likely find the distressed property inventory in Brevard County doesn't offer much choice.



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