Brevard County Florida Housing Report for November 2017
Single family homes showed vast improvement over November 2016 numbers with pending sales up 14.2%. Median Condo/Townhome prices rising 12.7% over L/Y is also a notable monthly figure. As we approach the year end,the rush to close primary residences (for 2018 Homestead Exemption) is on as inspectors, appraisers,title companies,etc. all try to hit the mark for their clients. The December numbers are trickling in and all indications points to another very positive month and a great finish to an exciting year on the Space Coast of Florida.
A quick recap of the Brevard County Residential Report for November 2017:
- Closed Sales are up 5.2% for November 2017 in which the number of units closed was 752 compared to 715 in November 2016, with a decrease in cash sales of -1.6% compared to November 2016.
- New Pending Sales are up 14.2% and New Listings are up 1.6%.
- The Median Sales Price for Brevard Single Family homes is up 15.3% to $218,000 compared to a year ago, which was $189,000.
- Months Supply of Inventory is up 12% to 2.8 months, an increase from 2.5 months in 2016.
- Traditional Sales are up 9.1%, with a median sales price of $220,000.
- Foreclosure/REO Sales are down -38.8%, with a median sales price of $141,250.
- Short Sale Closings are down -50%, with a median sales price of $161,863.
A quick recap of the Brevard County Townhouses/Condos for November 2017:
- Closed Sales are down -3.9% for November 2017 in which the number of units closed was 195 compared to 203 in November 2016, with a decrease in cash sales of -8.4% compared to November 2016.
- New Pending Sales are up 2.3% and New Listings are down -4.5%.
- Median Sales Price for Townhomes/Condos is up 12.7% to $160,000 compared to a year ago, which was $142,000.
- Months Supply of Inventory is down -5.6% to 3.4 months in November 2017 from 3.6 in November 2016.
- Traditional Sales are down -5.2%, with a median sales price of $166,000.
- Foreclosure/REO Sales increased 12.5% with a median sales price of $97,000.
- Short Sale Closings are up 100%, and had a median sales price of $136,500 in November 2017.
Source: Florida REALTORS®