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Monday, April 23, 2018

Brevard County, Florida Real Estate Market Summary for March 2018

Presented below is the Brevard County, Florida real estate market summary for March 2018 as provided by the Space Coast Association of Realtors.

The Brevard County Residential Report for March 2018:
  • Closed Sales are up 2.9% for March 2018 in which the number of units closed was 935 compared to 909 in March 2017 with a decrease in cash sales of -14.7% compared to March 2017.
  • New Pending Sales are up 0.6%.
  • New Listings are up 7.1%.
  • The Median Sales Price for Brevard Single Family homes is up 18.6% to $230,000 compared to a year ago which was $194,000.
  • Months Supply of Inventory is up 12% to 2.8 months an increase from 2.5 months in 2018.
  • Traditional Sales are up 6.5% with a median sales price of $230,000.
  • Foreclosure/REO Sales are down -59.6% with a median sales price of $240,000.
  • Short Sale Closings are down -28.6% with a median sales price of $219,000. 
The Brevard County Condo and Townhouse Report for March 2018:
  • Closed Sales are up 24.4% for March 2018 in which the number of units closed was 316 compared to 254 in March 2017, with an increase in cash sales of 12.6% compared to March 2017.
  • New Pending Sales are up 5.8 %.
  • New Listings are up 15.5%.
  • Median Sales Price for Townhomes/Condos is up 6.7% to $160,000 compared to a year ago which was $150,000.
  • Months Supply of Inventory has decreased to 3.5 months in March 2018 from 3.6 months in March 2017.
  • Traditional Sales are up 26.5% with a median sales price of $160,000.
  • Foreclosure/REO Sales are down -44.4% with a median sales price of $105,018. 
  • Short Sale Closing statistics are not available as there were no short sales in March 2017 and one in March 2018.
For information on buying or selling a home in Melbourne, Florida including Viera/Suntree, please call me directly at  2-693-350 or send me an email.

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