Brevard County Housing Report for Oct. 2016
Summer has come and gone and we are excited to provide the Brevard County housing report for October 2016. Traditionally, there is a slight slowdown in the pending home inventory as well as new homes to the market during this last quarter of the year. New Construction is still a hot topic as builders/developers continue to try to keep up with the demand of Brevard County Buyers.
A quick recap of the Brevard County Residential Report for October 2016 compared to October 2015:
- Closed Sales are down -3.9% for October 2016 in which the number of units closed was 714 compared to 743 in October 2015, with a decrease in cash sales by -25.8% compared to October 2015.
- New Pending Sales are down -25.6% and New Listings are down -21.5%.
- The Median Sales Price for Brevard Single Family homes is up 16.6% to $190,000 compared to a year ago, which was $163,000.
- Months Supply of Inventory is down -14.3% at 2.4 months compared to 2.8 months in October 2015.
- Traditional Sales are up 4.9%, with a median sales price of $199,500.
- Foreclosure/REO Sales are down -53.8%, with a median sales price of $133,250.
- Short Sale Closings are down -55%, with a median sales price of $100,000.
A quick recap of the Brevard County Townhouses/Condos for October 2016 compared to October 2015:
- Closed Sales are down -11.2% for October 2016 in which the number of units closed was 183 compared to 206 in October 2015, with a decrease in cash sales of -24.4% compared to October 2015.
- New Pending Sales are down -42.9% and New Listings are down -17.7%.
- Median Sales Price for Townhomes/Condos is up 8.9% to $147,000 compared to a year ago, which was $135,000.
- Months Supply of Inventory is up 3% to 3.4 months compared to 3.3 months in October 2015.
- Traditional Sales are down -3.9%, with a median sales price of $152,000.
- Foreclosure/REO Sales are down -63%, with a median sales price of $70,501.
- Short Sale Closings are down -100%, with a median sales price of $147,500.
Please be sure to click HERE for the October 2016 detailed housing report. Additional detailed reports for condo/townhomes are available upon request.