Brevard County Florida Housing Statistics for January 2017
After finishing 2016 strong across the board,the 2017 Brevard County Florida residential market continues its healthy growth into 2017. The critical factor currently is the “month’s supply” of homes. As this number continues to dwindle, the solidification of a Sellers Market will take hold. As a result, appraisal values will trend higher setting expectations to buyers that now is the time to purchase,while interest rates continue to be at historic lows.
A quick recap of the Brevard County Residential Report for January 2017 compared to January 2016:
- Closed Sales are up 2.7% for January 2017 in which the number of units closed was 600 compared to 584 in January 2016, with a decrease in cash sales of -17.9% compared to January 2016.
- New Pending Sales are up 5.6% and New Listings are up 16%.
- The Median Sales Price for Brevard Single Family homes is up 18.2% to $195,000 compared to a year ago, which was $164,950.
- Months Supply of Inventory is down -10.3% at 2.6 months compared to 2.9 months in January 2016.
- Traditional Sales are up 12.4%, with a median sales price of $200,000.
- Foreclosure/REO Sales are down -43%, with a median sales price of $128,800.
- Short Sale Closings are down -73.3%, with a median sales price of $285,500.
For a detailed analysis of Single Family statistics,please click HERE
A quick recap of the Brevard County Townhouses/Condos for January 2017 compared to January 2016:
- Closed Sales are up 24.8% for January 2017 in which the number of units closed was 186 compared to 149 in January 2016, with a increase in cash sales of 40.7% compared to January 2016.
- New Pending Sales are up 15.3% and New Listings are down -5.6%.
- Median Sales Price for Townhomes/Condos is up 4.8% to $143,000 compared to a year ago, which was $136,500.
- Months Supply of Inventory is down -5% to 3.8 months compared to 4 months in January 2016.
- Traditional Sales are up 31.6%, with a median sales price of $144,000.
- Foreclosure/REO Sales are down -41.7%, with a median sales price of $95,000.
- Short Sale Closings are down -100%. Year-over-year data is not available as there were no sales in January 2017. The January 2016 median short sale sales price was $62,000.
For a detailed analysis of Townhouse/Condo statistics,please click HERE
Source: Florida Realtors