The July 2017 Brevard County Residential Market Report
It has been another, overall, positive sales month and we happy to bring you the Brevard County Residential Market Report. Notable data indicates a significant single family median sales price increase along with condo/townhome closed transactions on the rise. Also,very important to recognize, even with the new condo construction, is the reduction the month’s supply of condo’s.
A quick recap of the Brevard County Residential Report for July 2017:
- Closed Sales are down -1.7% for July 2017 in which the number of units closed was 874 compared to 889 in July 2016, with a decrease in cash sales of -9.9% compared to July 2016.
- New Pending Sales are up 3.3% and New Listings are up 26.5%.
- The Median Sales Price for Brevard Single Family homes is up 12.2% to $220,000 compared to a year ago, which was $196,000.
- Months Supply of Inventory is up 7.7% to 2.8 months, up from 2.6 months in 2016.
- Traditional Sales are up 1.1%, with a median sales price of $222,000
- Foreclosure/REO Sales are down -45.3%, with a median sales price of $144,800.
- Short Sale Closings are down -9.7%, with a median sales price of $158,000.
For a detailed analysis of July’s Single Family sales,please click HERE
A quick recap of the Brevard County Townhouses/Condos for July 2017:
- Closed Sales are up 18% for July 2017 in which the number of units closed was 223 compared to 189 in July 2016, with an increase in cash sales of 12% compared to July 2016.
- New Pending Sales are down -5% and New Listings are up 16.5%.
- Median Sales Price for Townhomes/Condos is up 15% to $161,000 compared to a year ago, which was $140,000.
- Months Supply of Inventory is down -10.5% to 3.4 months compared to 3.8 months in July 2016.
- Traditional Sales are up 21.5%, with a median sales price of $164,900.
- Foreclosure/REO Sales saw no change with a median sales price of $64,000.
- Short Sale Closings are down -100%, with no sales in July 2017.
For a detailed analysis of July’s Townhome/Condo sales,please click HERE
*Source: Florida Realtors