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Saturday, November 22, 2014

Brevard County Residential Report for October 2014: Inventory down, prices up.

The Brevard County Residential Sales Report for October 2014 compared to October 2013 is presented below as provided by the Space Coast Realtors.
 
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 Markeare 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.

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