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Wednesday, July 29, 2015

Indian River Colony Club (IRCC) in Viera - Market Update July 2015

Indian River Colony Club, located in Viera (Melbourne, Florida) was founded in 1986 as an age restricted (55+) community for former or currently serving officers of any U.S. uniformed service.  Although IRCC is one of three gated 55+ communities in Viera it is different from the others in that it offers total maintenance free living (a higher monthly maintenance fee paid although it covers things like roofing, appliances, pest control, painting, lawn care and the like.  Another big difference is IRCC has its own 18-hole golf course.

[Please read the links at the bottom of this article for information on Viera's 55+ communities including IRCC, Heritage Isle and Grand Isle.] 

 Currently there are thirty homes for sale in the Indian River Colony Club community.  List prices for these homes range from $130,000 to $324,900.  While this range appears large most are under $200,000 (24 homes) and ten are below $165,000.

Current for sale home sizes range from 1,179 sq.ft. (3 BR/2 BA/2) to 2,480 sq.ft. (4 BR/2BA/2).   The majority of these homes fall within the 1,600 to 1,900 sq.ft. range.  All of these properties were constructed between 1988 and 1998 (half prior to 1992).

Of the thirty homes for sale in Indian River Colony Club twenty-eight are fair market sale while two are foreclosures (both listed at $154,900).

Major differences between homes for sale in IRCC and those in Grand Isle and Heritage Isle (the other 55+ communities in Viera):
  • IRCC homes are older 
  • IRCC homes are frame stucco construction (others concrete construction)
  • IRCC home prices are substantially lower priced.
What has recently sold in Indian River Colony Club?

Over the past six months there have been twenty-five homes sold in IRCC (twenty-four standard/fair market sales and one foreclosure).  Selling prices ranged from $120,000 (3 BR/2BA/2 Car garage, 1,349 sq.ft.) to $253,000 (3BR/3BA/3 Car garage, 2,166 sq.ft.).  The median selling price was about $172,000.

Since June 1, 2015 there have been six sales ranging in price from $120,000 to $253,000, median sales price $175,000.  All of these sales have been fair market transactions.  Also, there are also 4 homes under contract at this time awaiting closing.

For information on homes for sale at Indian River Colony Club in Viera, please call me, Gary Waters, LT MSC USN-Retired at 321-693-3850 or send me an email.

55+ Communities in Viera, Florida
Indian River Colony Club - A Different Viera 55+ Community
There is a Difference in 55+ Community Living
Heritage Isle and Indian River Colony Club - Different 55+ Communities
55+ Developments in Brevard County, Florida

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