The most telling statistic in my opinion is not that the median sales price is up but rather the months supply of inventory is down to three months.
- Closed Sales are up 17.1% for October 2014 the number of units closed was 851 compared to 727 in October 2013. Also an increase in cash sales by 16.8% compared to October 2013.
- New Pending Sales are down -29.2% and New Listings are up 3.4%.
- Median Sales Price for Brevard County Single Family Homes are up 19.2% to $143,000 compared to a year ago, which was $120,000.
- Median Days on the Market are down -10.3%, which is 35 days compared to 39 in October 2013.
- Months Supply of Inventory is down -33.3% to 3.0 months compared to 4.5 months in October 2013.
- Traditional Sales are up 35.1%, with a median sales price of $161,700.
- Foreclosure/REO Sales are down -2.9%, with a median sales price of $86,050.
- Short Sale Closings are down -44.8%, with a median sale price of $145,000.