Brevard County Florida Housing Report April 2017
This is the Brevard County Florida Housing Report April 2017. Quality home inventory remains low in sought after areas (Beachfront,Riverfront,Indialantic,Satellite Beach and beyond),reducing days on the market and increasing probability of multiple offer scenarios.Current housing interest rates, although expected to have multiple increases this year, continue to keep prospective buyers motivated in their current house hunting schedules before they possibly incur an uptick in their “Lock-In” rate.
A quick recap of the Brevard County Residential Report for April 2017:
- Closed Sales are down -8.6% for April 2017 in which the number of units closed was 805 compared to 881 in April 2016, with a decrease in cash sales of -28% compared to April 2016.
- New Pending Sales are up 22.2% and New Listings are down -3.2%.
- The Median Sales Price for Brevard Single Family homes is up 13.8% to $204,655 compared to a year ago, which was $179,900.
- Months Supply of Inventory is down -16.7% at 2.5 months compared to 3 months in April 2016.
- Traditional Sales are down -4.9%, with a median sales price of $210,000.
- Foreclosure/REO Sales are down -45.1%, with a median sales price of $119,500.
- Short Sale Closings are down -41.7%, with a median sales price of $120,000.
For a detailed single family housing report,please click HERE
A quick recap of the Brevard County Townhouses/Condos for April 2017 compared to April 2016:
- Closed Sales are down -8.2% for April 2017 in which the number of units closed was 236 compared to 257 in April 2016, with a decrease in cash sales of -5.8% compared to April 2016.
- New Pending Sales are up 4.8% and New Listings are down -0.3%.
- Median Sales Price for Townhomes/Condos is up 14.3% to $160,000 compared to a year ago, which was $140,000.
- Months Supply of Inventory is down -11.9% to 3.7 months compared to 4.2 months in April 2016.
- Traditional Sales are down -3.7%, with a median sales price of $160,000.
- Foreclosure/REO Sales are down -84.6%, with a median sales price of $53,000.
- Short Sale Closings are down -50%, with a median sale price of $39,000.
For a detailed townhome/Condo report,please click HERE
*Source Florida Realtors