Home prices continue to increase. Inventory is limited.
A quick recap of the Brevard County Residential Report for February 2021 from the Space Cost Association of Realtors:
· Closed Sales are up +22.7% for February 2021 in which the number of
units closed was 853 compared to 695 in February 2020, with an
increase in cash sales of +34.9%.
· New Pending Sales are up +1.7% and New Listings are down -7.8%.
· The Median Sales Price for Brevard Single Family
homes is up +10.8% to $274,720 compared to
a year ago, which was $248,000.
· Months Supply of Inventory is down -57.7% to 1.1 months, a decrease from 2.6 months
in February 2020.
· Traditional Sales are up +26.1%, with a median sales price of $275,000.
· Foreclosure/REO Sales are down -81.8%, with 4 closed sales and a median sales price
of $213,000.
· Short Sale Closings are up +33.3% with 4 closed sales and a median sales price of $230,400.
A quick recap of the Brevard County Townhouses/Condos for February 2021:
· Closed Sales are up +21.9% for February 2021 in which the number of
units closed was 256 compared to 210 in February 2020, with an increase in
cash sales of +49.4%.
· New Pending Sales are up +22.0% and New Listings are up +6.2%.
· Median Sales Price for Townhomes/Condos is down
-2.7% to $205,000 compared to
a year ago, which was $210,750.
· Months Supply of Inventory is down -45.5% to 1.8 months in February 2021 from 3.3
months in February 2020.
· Traditional Sales are up +23.7%, with a median sales price of $205,000.
· Foreclosure/REO Sales are down with 0 closed sales compared to 3 closed sales
in February 2020.
