Brevard County Florida Housing Report for November 2016
We are excited to bring you the Brevard County Florida Housing Report – November 2016. As 2016 winds down, listing saturation continues to dwindle as the Space Coast residential market continues its healthy performance over 2015.Historically, we see a push to close escrow by the end of the year for residential primary residents. The purpose of this mad dash is to be able for new homeowners to qualify for the Florida Homestead exemption. Be sure to visit the Brevard County Property Appraiser website for more information.
A quick recap of the Brevard County Residential Report for November 2016 compared to November 2015:
- Closed Sales are up 12.8% for November 2016 in which the number of units closed was 715 compared to 634 in November 2015, with a decrease in cash sales by -23% compared to November 2015.
- New Pending Sales are down -7.2% and New Listings are up 5.3%.
- The Median Sales Price for Brevard Single Family homes is up 12% to $189,000 compared to a year ago, which was $168,750.
- Months Supply of Inventory is down -13.8% at 2.5 months compared to 2.9 months in November 2015.
- Traditional Sales are up 21.4%, with a median sales price of $194,950.
- Foreclosure/REO Sales are down -33.8%, with a median sales price of $127,500.
- Short Sale Closings are down -55.6%, with a median sales price of $130,000.
A quick recap of the Brevard County Townhouses/Condos for November 2016 compared to November 2015:
- Closed Sales are up 17.3% for November 2016 in which the number of units closed was 203 compared to 173 in November 2015, with a increase in cash sales of 13.3% compared to November 2015.
- New Pending Sales are up 9% and New Listings are up 15.9%.
- Median Sales Price for Townhomes/Condos is up 3.3% to $142,000 compared to a year ago, which was $137,500.
- Months Supply of Inventory is up 9.1% to 3.6 months compared to 3.3 months in November 2015.
- Traditional Sales are up 20.5%, with a median sales price of $145,000.
- Foreclosure/REO Sales are down -20%, with a median sales price of $100,500.
- Short Sale Closings are down -50%, with a median sales price of $115,500.
For a detailed report of Single Family home statistics Click Here
For the detailed report of Condo/Townhome statistics Click Here
Source:Space Coast Association of Realtors