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Tuesday, March 24, 2015

Brevard County, Florida Single Family Home Sales, Inventory and Trends as of February 28, 2015

The charts presented below, as provided by the Florida Realtors®, summarize in detail the state of the single family home residential market in Brevard County, Florida for the year ending February 28, 2015.

At the end of February 2015 all numbers appear to favor single family home sellers with increasing sales prices, decreasing inventory, more cash sales and fewer new listings.

Since September 2014 the year-over-year inventory of single family homes has decreased steadily with current inventory levels at the lowest level since May 2014 (except for a one month jump in October).

The majority of single family home sales in February 2015 were standard sales (76+%).  Foreclosures made up about 20% of sales while short sales continued to decrease to only about 4% of closed sales.

Median sales prices have steadily climbed as well except for the slight decrease in November 2014 (coincidentally following the one month bump in inventory in October).

If you are considering buying a single family home in Brevard County, Florida this may be your best time.   Look at the signs...
  • Prices are rising, 
  • Inventory levels are low, and 
  • Interest rates are still very attractive (around the 3.8% range for 30 year loans).

The above data provided by the Florida Realtors®

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