A quick note from JoAnn:
The Brevard market is moving swiftly. Inventory is very low and homebuyers are experiencing multiple offer scenarios in some price points. The demand is driving prices upward. If you are a homeowner thinking of selling, this market is good for you. If you are a buyer, you must stay on top of "new" or "back on the market" listings. This data does not include vacant land. We are seeing a tremendous increase in vacant land sale also. Where homebuyers are not finding their dream home, they are turning to builders.
*Data provided by Florida Association of Realtors and the Space Coast Association of Realtors:
A quick recap of the Brevard County Residential Report for August 2020:
- Closed Sales are up +5.1% for August 2020 in which the number of units closed was 991 compared to 943 in August 2019, with a decrease in cash sales of -8.1% compared to August 2019.
- New Pending Sales are up +22.1% and New Listings are down -3.5%.
- The Median Sales Price for Brevard Single Family homes is up +14.7% to
$268,500 compared to a year ago, which was $234,000. - Months Supply of Inventory is down -35.7% to 1.8 months, a decrease from 2.8 months in August 2019.
- Traditional Sales are up +6.0%, with a median sales price of $269,900.
- Foreclosure/REO Sales are down -29.4%, with 12 sales and a median sales price of $166,500.
- Short Sale Closings are down -50.0% with 2 closed sales, and a median sales price of $400,000.
A quick recap of the Brevard County Townhouses/Condos for August 2020:
- Closed Sales are up +2.7% for August 2020 in which the number of units closed was 270 compared to 263 in August 2019, with a decrease in cash sales of -8.2% compared to August 2019.
- New Pending Sales are up +24.5% and New Listings are up +14.8%.
- Median Sales Price for Townhomes/Condos is up +20.4% to $222,750 compared to a year ago, which was $185,000.
- Months Supply of Inventory is down -22.9% to 2.7 months in August 2020 from 3.5 months in August 2019.
- Traditional Sales are up +3.5%, with a median sales price of $223,000.
- Foreclosure/REO Sales are down -100.0%, with 0 closed sales compared to 2 closed sale in August 2019.
- Short Sale Closings are unchanged with 1 closed sales in August 2020 compared to 1 closed sale in August 2019, and a median sales price of $92,000.
JoAnn Young, Young & Young Properties
Serving Brevard since 1999
321-243-4917
