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