Brevard County Real Estate Housing Report – September 2017
The Brevard County Real Estate Housing Report – September 2017 was affected a great deal by Hurricane Irma. Down time before and after the storm was a driving force on the determining factor significantly reducing the residential sell through. As the Atlantic storm season starts to wind down,new construction will begin to pick up and escrow closings will also gain momentum as the public desires to close before year end to file for their homestead tax exemptions.
A quick recap of the Brevard County Residential Report for September 2017:
- Closed Sales decreased -18.4% for September 2017 in which the number of units closed was 693 compared to 849 in September 2016, with a decrease in cash sales of -26.4% compared to September 2016.
- New Pending Sales are down -37.7% and New Listings are down -30.9%.
- The Median Sales Price for Brevard Single Family homes is up 9.1% to $215,000 compared to a year ago, which was $197,100.
- Months Supply of Inventory is up 12% to 2.8 months compared to 2.5 months in September 2016.
- Traditional Sales are down -15.5%, with a median sales price of $220,000.
- Foreclosure/REO Sales are down -55.8%, with a median sales price of $115,000.
- Short Sale Closings decreased -64.3% and had a median sales price of $180,000.
For the detailed Single Family Home report,please click HERE
A quick recap of the Brevard County Townhouses/Condos for September 2017:
- Closed Sales are down -25.9% for September 2017 in which the number of units closed was 163 compared to 220 in September 2016, with a decrease in cash sales of -43.7% compared to September 2016.
- New Pending Sales are down -35.7% and New Listings are down -36.4%.
- Median Sales Price for Townhomes/Condos is up 17.5% to $163,000 compared to a year ago, which was $138,700.
- Months Supply of Inventory did not change. It was 3.4 months in September 2016 and September 2017.
- Traditional Sales decreased -24%, with a median sales price of $165,250.
- Foreclosure/REO Sales decreased -60% and had a median sales price of $101,500.
- Short Sale Closings decreased -50%, with a median sales price of $60,000 in September 2017.
For the detailed Townhome/Condo Report,please click HERE
Source:Florida Realtors