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Wednesday, September 20, 2017

Brevard County, Florida Residential and Condo Market Summary August 2017

Presented below is a summary of the Brevard County, Florida real estate markets for August 2017 compared to the market one year ago as provided by the Florida Realtors.   
 
The first report summarizes the single family home market for August 2017:
  • Closed Sales - up 9.3% for August 2017  with 961 units closed compared to 879 in August 2016.
  • New Pending Sales - increased 2.3% in August 2017 vs last year.
  • New Listings - up 6.4%.
  • Median Sales Price for Brevard Single Family homes -  up 14.1% to $222,500 compared to a year ago which was $195,000.
  • Months Supply of Inventory - up 8% to 2.7 months an increase from 2.5 months in 2016.
  • Traditional Sales - increased 12.1% with a median sales price of $225,000
  • Foreclosure/REO Sales - down 26% with a median sales price of $127,300.
  • Short Sale Closings - also are down 33.3% with a median sales price of $225,000. 
Now for a quick recap of the Brevard County townhouse and condo market for August 2017:
  • Closed Sales - down 7.0% for August 2017  with 240 units closed compared to 258 in August 2016.
  • New Pending Sales - down 0.4% and New Listings are up 24.2%.
  • Median Sales Price for Townhomes/Condos - dropped 0.6% to $153,125 compared to a year ago which was $154,000.
  • Months Supply of Inventory - no change.  It was 3.4 months in August 2016 and August 2017.
  • Traditional Sales - down 5% with a median sales price of $153,125.
  • Foreclosure/REO Sales - decreased 42.9% with a median sales price of $145,000. 
  • Short Sale Closings - increased 204.4% with a median sales price of $342,250 in August 2017.

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