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Thursday, February 09, 2017

Brevard County, Florida Real Estate Market Annual Summary 2016 vs. 2015

How was the 2016 Brevard County, Florida real estate market for buyers and sellers last year?  

The condensed version:  Median selling prices were up....single family home selling prices 15% to $185,000 and condo selling prices about 8% to $144,000.

The long version:   A quick recap of the Brevard County Residential Report for 2016 compared to 2015:
  • Closed Sales are up 0.7% for 2016 in which the number of units closed was 9,925 compared to 9,856 in 2015 with a decrease in cash sales by -19.1% compared to 2015.
  • New Pending Sales are down -4.9% and 
  • New Listings are up 0.2%.
  • The Median Sales Price for Brevard Single Family homes is up 14.5% to $185,500 compared to a year ago, which was $162,000.
  • Months Supply of Inventory is down -14.3% to 2.4 months compared to 2.8 months in 2015.
  • Traditional Sales are up 13.1%, with a median sales price of $193,000.
  • Foreclosure/REO Sales are down -52.5%, with a median sales price of $116,200.
  • Short Sale Closings are down -50.4%, with a median sales price of $120,000.
A quick recap of the Brevard County Townhouses/Condos for 2016 compared to 2015:
  • Closed Sales are down -2.4% for 2016 in which the number of units closed was 2,646 compared to 2,712 in 2015, with a decrease in cash sales by -11.7% compared to 2015.
  • New Pending Sales are down -4.7% and New Listings are up 3.1%.
  • Median Sales Price for Townhomes/Condos is up 8.3% to $144,000 compared to a year ago, which was $132,950.
  • Months Supply of Inventory is up 5.9% to 3.6 months compared to 3.4 months in 2015.
  • Traditional Sales are up 5.1%, with a median sales price of $148,000.
  • Foreclosure/REO Sales are down -54.4%, with a median sales price of $80,000.
  • Short Sale Closings are down -31.7%, with a median sales price of $79,500.
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