Presented below is a summary of the October 2016 condo and townhouse market in Brevard County, Florida compared to October 2015.
- Closed Sales - Decreased 11.2% for October 2016 in which the number of units closed was 183 compared to 206 in October 2015 with a decrease in cash sales of -24.4% compared to October 2015.
- New Pending Sales - Down 42.9%.
- New Listings - Also decreased 17.7%.
- Median Sales Price for Townhomes/Condos - Up 8.9% to $147,000 compared to a year ago, which was $135,000.
- Months Supply of Inventory - Up 3% to 3.4 months compared to 3.3 months in October 2015.
- Traditional Sales - Down 3.9% with a median sales price of $152,000.
- Foreclosure/REO Sales - Down 63% with a median sales price of $70,501.
- Short Sale Closings - Down 100%, with a median sales price of $147,500.
For information on buying a home in Melbourne, Florida, call or text me at 321-693-3850.