Brevard County Florida Housing Report for February 2017
Traditionally, the Brevard County housing market slows, which the statistics clearly dictate for February 2017 vs February 2016. 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 up tick in their rate.
A quick recap of the Brevard County Residential Report for February 2017 compared to February 2016:
- Closed Sales are down -5.1% for February 2017 in which the number of units closed was 649 compared to 684 in February 2016, with a decrease in cash sales of -16% compared to February 2016.
- New Pending Sales are down -9.3% and New Listings are down -10.5%.
- The Median Sales Price for Brevard Single Family homes is up 24.2% to $205,000 compared to a year ago, which was $165,000.
- Months Supply of Inventory is down -16.7% at 2.5 months compared to 3 months in February 2016.
- Traditional Sales are up 3.7%, with a median sales price of $210,000.
- Foreclosure/REO Sales are down -65.2%, with a median sales price of $154,900.
- Short Sale Closings are up 12.5%, with a median sales price of $118,000.
For a detailed analysis of the above single family residence summary please click HERE
A quick recap of the Brevard County Townhouses/Condos for February 2017 compared to February 2016:
- Closed Sales are up 2.8% for February 2017 in which the number of units closed was 185 compared to 180 in February 2016, with a decrease in cash sales of -2.7% compared to February 2016.
- New Pending Sales are down -10.6% and New Listings are up 4.4%.
- Median Sales Price for Townhomes/Condos is down -2.3% to $139,900 compared to a year ago, which was $143,232.
- Months Supply of Inventory is down -4.9% to 3.9 months compared to 4.1 months in February 2016.
- Traditional Sales are up 9.3%, with a median sales price of $143,000.
- Foreclosure/REO Sales are down -55.6%, with a median sales price of $117,237.
- Short Sale Closings saw no change in number of closed sales, and had a median sales price of $87,000 in February of 2017.
For a detailed analysis of the above Townhome/Condo summary please click HERE
Sourced: Florida Realtors