Brevard County Housing Report for March 2018
The Brevard County Residential Housing Report for March 2018 is positive across most noted categories. As we enter the prime selling season, an increase in single family home inventory is historically typical. As interest rates continue to fluctuate (trending higher), buyers often finding themselves entering into bidding wars on quality homes in desirable areas.
The towns of Indialantic, Satellite Beach, Viera/Suntree,Indian Harbour Beach, Melbourne Beach and the immediate surrounds areas continue to perform increasingly well.
SPACE COAST Real Estate Statistics
A quick recap of the Brevard County Residential Report for March 2018:
- Closed Sales are up 2.9% for March 2018 in which the number of units closed was 935 compared to 909 in March 2017, with a decrease in cash sales of -14.7% compared to March 2017.
- New Pending Sales are up 0.6% and New Listings are up 7.1%.
- The Median Sales Price for Brevard Single Family homes is up 18.6%to $230,000 compared to a year ago, which was $194,000.
- Months Supply of Inventory is up 12% to 2.8 months, an increase from 2.5 months in 2018.
- Traditional Sales are up 6.5%, with a median sales price of $230,000.
- Foreclosure/REO Sales are down -59.6%, with a median sales price of $240,000.
- Short Sale Closings are down -28.6%, with a median sales price of $219,000.
*** For a detailed report on Single Family Statistics,please click HERE
A quick recap of the Brevard County Townhouses/Condos for March 2018:
- Closed Sales are up 24.4% for March 2018 in which the number of units closed was 316 compared to 254 in March 2017, with an increase in cash sales of 12.6% compared to March 2017.
- New Pending Sales are up 5.8 % and New Listings are up 15.5%.
- Median Sales Price for Townhomes/Condos is up 6.7% to $160,000 compared to a year ago, which was $150,000.
- Months Supply of Inventory has decreased to 3.5 months in March 2018 from 3.6 months in March 2017.
- Traditional Sales are up 26.5%, with a median sales price of $160,000.
- Foreclosure/REO Sales are down -44.4% with a median sales price of $105,018.
- Short Sale Closing statistics are not available, as there were no short sales in March 2017 and one in March 2018.
***For a detailed report on Townhouses and Condos, please click HERE
Source: Florida Realtors