Brevard County Housing Market Report for August 2017
M.Novak Real Estate consistently brings you the most detailed Brevard County Housing Market Report for August 2017. As anticipated, single family sales were strong year over year as families were prioritizing their homes closing to get settled for the new school year. Real Estate sales in the towns of Viera,Suntree,Satellite Beach,Indian Harbour Beach,Indialantic,Melbourne Beach and Melbourne proper continue to be solid standouts with continued shortage of housing inventory and pent up buyer demand in these areas.
A quick recap of the Brevard County Residential Report for August 2017:
- Closed Sales are up 9.3% for August 2017 in which the number of units closed was 961 compared to 879 in August 2016, with an increase in cash sales of 0.4% compared to August 2016.
- New Pending Sales are up 2.3% and New Listings are up 6.4%.
- The Median Sales Price for Brevard Single Family homes is up 14.1% to $222,500 compared to a year ago, which was $195,000.
- Months Supply of Inventory is up 8% to 2.7 months, up from 2.5 months in 2016.
- Traditional Sales are up 12.1%, with a median sales price of $225,000
- Foreclosure/REO Sales are down -26%, with a median sales price of $127,300.
- Short Sale Closings are down -33.3%, with a median sales price of $225,000.
For a detailed summary of Single Family Home sales, please click HERE
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A quick recap of the Brevard County Townhouses/Condos for August 2017:
- Closed Sales are down -7.0% for August 2017 in which the number of units closed was 240 compared to 258 in August 2016, with a decrease in cash sales of 23.3% compared to August 2016.
- New Pending Sales are down -0.4% and New Listings are up 24.2%.
- Median Sales Price for Townhomes/Condos is down -0.6% to $153,125 compared to a year ago, which was $154,000.
- Months Supply of Inventory did not change. It was 3.4 months in August 2016 and August 2017.
- Traditional Sales are 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.
For a detailed summary of Townhome/Condo sales, please click HERE
Source: Florida REALTORS