Brevard County/Space Coast Market Report for April 2018
Brevard County Real Estate April 2018
Summer is just around the corner and that translates into the prime selling/buying season on the Space Coast. Getting settled before the new school year is paramount as inventory is shifting with the tides. April’s single family months supply is up slightly, as condo/townhome month’s supply has been reduced. There is palpable excitement over the new oceanfront condo construction in Satellite Beach and Indialantic at Oceana, 2975 OCEAN, The Abacos and 1625 OCEAN. Interest rates are on the uptick regarding conventional financing and bidding wars are becoming the norm for the quality listings that are priced correctly.
A quick recap of the Brevard County Residential Report for April 2018:
- Closed Sales are up 12.7% for April 2018 in which the number of units closed was 907 compared to 805 in April 2017, with a decrease in cash sales of -6.7% compared to April 2017.
- New Pending Sales are down -0.7% and New Listings are up 7.7%.
- The Median Sales Price for Brevard Single Family homes is up 11.2%to $227,500 compared to L/Y, which was $204,655.
- Months Supply of Inventory is up 16% to 2.9 months, an increase from 2.5 months in 2017.
- Traditional Sales are up 17.4%, with a median sales price of $228,000.
- Foreclosure/REO Sales are down -64.1%, with a median sales price of $138,750.
- Short Sale Closings are down -71.4%, with a median sales price of $133,250.
***For a detailed report on single family home statistics,please click HERE
A quick recap of the Brevard County Townhouses/Condos for April 2018:
- Closed Sales are up 7.2% for April 2018 in which the number of units closed was 253 compared to 236 L/Y, with an increase in cash sales of 0.8% compared to April 2017.
- New Pending Sales are up 15.5 % and New Listings are up 6.8%.
- Median Sales Price for Townhomes/Condos is up 18.8% to $190,000 compared to a year ago, which was $160,000.
- Months Supply of Inventory has decreased to 3.5 months in April 2018 from 3.7 months in April 2017.
- Traditional Sales are up 6.9%, with a median sales price of $192,000.
- Foreclosure/REO Sales are up 100% with a median sales price of $98,000.
- Short Sale Closing statistics are down -100%, as there were no short sales in April 2018 and one in April 2017.
***For a detailed report on Townhome/Condo statistics,please click HERE
Source: Florida REALTORS