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Thursday, June 23, 2016

55+ Communities in Viera, Florida - June 2016 Market Update

There are three 55+ communities in Viera, Florida.   All three of these #age-restricted-communities share key characteristics such as being gated, offering a clubhouse and other facilities as well as varying levels of provided maintenance.

Read more about these three age restricted communities in central Brevard County, Florida  as well as about the differences between the 55+ communities of Viera.
This is a market summary for Heritage Isle and Grand Isle and represents a snapshot of the Viera 55+ community/market as of June 23, 2016.

What is for sale in Heritage Isle?

Currently there are nine homes for sale in Heritage Isle with listing prices ranging from $229,750 to $399,900.  I recently received a notice from the builder's representative that list price for new construction in Heritage Isle was rising on July 1, 2016.   This seems logical when one considers the rising prices in both of these 55+ communities (and the Florida market in general).

Of the nine homes for sale in Heritage Isle at this time four are priced above $300,000 and another four are in the $250,000 to $300,000 range.  So if a buyer is looking for a home under $250,000 in either of these 55+ communities then the choices are very limited.

Want to buy new construction home in Heritage Isle?  Just received this email from Heritage Isle builder representative.
Subject: Homes are going quickly only 22 left!!!!!!!!!!!!!!!!!!!!!

We only have 22 homes left in Heritage Isle and then we are completely SOLD OUT!!!!

What has recently sold in Heritage Isle?

Since May 1, 2016 there have been eleven homes sold in Heritage Isle.  Selling prices ranged from $205,000 to $375,000.  This range does not demonstrate the real market as there was only one selling under $248,000.  The lone foreclosure at 3394 Moonstone Lane (1,862 sq..ft. 3/2/2) sold for $205,000.

Five of these eleven recent sales went for more than $300,000.  Median selling price since May 1, 2016 was $292,500 while the average selling price was about $265,000 (about $271,000 if the foreclosure is not considered).

What is for sale in Grand Isle?

Currently there are only three homes for sale in Grand Isle with listing prices ranging from $269,900 to $349,900.  (While Grand Isle was developed by the same builder as Heritage Isle with similar construction, Grand Isle is smaller..)

All three of the homes for sale in Grand Isle were constructed in 2003/2004 and have 2,032 to 2,470 square feet under air.   While not very common, one of the offerings has a private pool as well.

There are also two other homes under contract awaiting closing. 

What has sold in Grand Isle?

Over the past six months there have been seven homes sold in Grand Isle.   Since May 1, 2016 there has been only one property sold in Grand Isle.  That home at 1595 Timacuan Drive (2001 built 3 bedroom 2 bathroom 2 car garage home with 2,011 sq.ft.) sold for $270,000 on May 20, 2016.

For information on buying a home in any of Viera's 55+ communities, call or text me at 321-693-3850.

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