July 2016 Brevard Residential Market Statistics
The Brevard Residential market continues to improve with healthy incremental growth throughout all categories. Indialantic condos,Viera single family homes and Merritt Island waterfront properties continue to flourish with lower inventory and competitive pricing.
Financing residential properties continues to be a hot topic amongst Buyers,Sellers and Realtors.Take a moment and visit our Financing Guidance area in the Buyers/Sellers page at http://www.mnovakre.com/financing-guidance/
A quick recap of the Brevard County Residential Report for July 2016 compared to July 2015:
- Closed Sales are down -4.7% for July 2016 in which the number of units closed was 926 compared to 972 in July 2015, with a decrease in cash sales by -26.4% compared to July 2015.
- New Pending Sales are up 2.6% and New Listings are down -6.1%.
- The Median Sales Price for Brevard Single Family homes is up 23.2% to $198,925 compared to a year ago, which was $161,500.
- Months Supply of Inventory is down -6.9% at 2.7 months compared to 2.9 months in July 2015.
- Traditional Sales are up 8.1%, with a median sales price of $204,000.
- Foreclosure/REO Sales are down -63.7%, with a median sales price of $123,222.
- Short Sale Closings are down -75%, with a median sales price of $200,250.
A quick recap of the Brevard County Townhouses/Condos for July 2016 compared to July 2015:
Closed Sales are down -33.7% for July 2016 in which the number of units closed was 183 compared to 276 in July 2015, with an decrease in cash sales by -40% compared to July 2015.
- New Pending Sales are down -5.5% and New Listings are up .4%.
- Median Sales Price for Townhomes/Condos is up 5.1% to $145,000 compared to a year ago, which was $138,000.
- Months Supply of Inventory is up 15.2% to 3.8 months compared to 3.3 months in July 2015.
- Traditional Sales are down -28.3%, with a median sales price of $147,000.
- Foreclosure/REO Sales are down -78.8%, with a median sales price of $90,100.
- Short Sale Closings are up 33.3%, with a median sales price of $62,500.