How's the Market for Oceanfront Condos In Brevard County?

By JoAnn Young: Realtor

As a Realtor we are asked frequently, "How's the real estate market?"  The answers to that question is just not that simple.  There are answers that are just as broad as the question!  For Brevard County it is even more broad.  The county we live in is the longest in length of miles along the eastern coast.  There are several markets to choose from when answering this question. I have chosen to answer what I know about the market for Oceanfront Condo properties.

I've taken the liberty to track results of sales from August, September and October 2011 and compare them to the the same months the prior year.  These months are all "off-season" for Brevard County.  The information is complied from the Multiple Listing Services from the Melbourne Area Board of Realtors as of 11/13/2011.

First, let's start with August 2010 and compare with August 2011.  In August 2010, there were a total of 20 Oceanfront condo units sold compared to 25 in 2011.  That is an increase of 25%

In September 2010 there were a total of 16 units sold compared to September 2011's 29 for a surprising increase of  81.25% of units sold !

Finally let's look at October 2010 with a total of 21 Condo units sold and now compare to 30 units sold in October 2011.  The increase for the month of October is 42.9%!

The amount of units sold per month has increased on all three of the most recent months of sales from 2010 - 2011 and these increases take place in "off season".  WOW!
The average days on the market for all three months is about 161 days. 

What would a buyer expect to pay for an Oceanfront Condo in this market?  Much depends on what the seller has to offer as far as price, ammenties, upgrades i.e. granite, hardwood flooring, crown moulding, newer cabinets, the age of the building, location of the Condo, parking, whether the property is a short sale or foreclosure.

If you are interested in purchasing or selling an Oceanfront Condo and would like more sales data, call me for a free market analysis. 
JoAnn Young, 321-243-4917, or email me at JoAnn@MyFLDreamHome.com.