Brevard County Residential Market Report for May 2017
We are excited to bring you the Brevard County Residential Market Report for May 2017. Across the board, May shaped up to be a very positive sell-thru month with a healthy gain in the Median single family and condo/townhome sales prices. June is shaping up to be another positive month as families are looking to get settled in before the new school year begins. Indialantic,Melbourne Beach,Viera and Suntree markets continue to flourish as new construction and beautiful renovations are capturing buyers attentions.
A quick recap of the Brevard County Residential Report for May 2017:
- Closed Sales are up 3% for May 2017 in which the number of units closed was 987 compared to 958 in May 2016, with a decrease in cash sales of -12% compared to May 2016.
- New Pending Sales are up 4.1% and New Listings are up 14.2%.
- The Median Sales Price for Brevard Single Family homes is up 14.1% to $211,000 compared to a year ago, which was $185,000.
- Months Supply of Inventory is down -3.7% at 2.6 months compared to 2.7 months in May 2016.
- Traditonal Sales are up 8.3%, with a median sales price of $215,250.
- Foreclosure/REO Sales are down -50%, with a median sales price of $132,500.
- Short Sale Closings are down -21.4%, with a median sales price of $165,000.
For a detailed market analysis of single family home sales,please click HERE
A quick recap of the Brevard County Townhouses/Condos for May 2017 compared to May 2016:
- Closed Sales are up 1.9% for May 2017 in which the number of units closed was 270 compared to 265 in May 2016, with a decrease in cash sales of -8.5% compared to May 2016.
- New Pending Sales are up 15.5% and New Listings are up 18.7%.
- Median Sales Price for Townhomes/Condos is up 16.1% to $162,500 compared to a year ago, which was $140,000.
- Months Supply of Inventory is down -5.3% to 3.6 months compared to 3.8 months in May 2016.
- Traditional Sales are up 3.6%, with a median sales price of $161,500.
- Foreclosure/REO Sales saw no change and the median sales price was $197,500.
- Short Sale Closings are down -100%, as there were no short sale closings in May of 2017.
For a detailed market analysis of Townhome/Condo sales,please click HERE
*Source Florida Realtors