October 2017 Brevard County Florida Housing Report by M.Novak Real Estate LLC
The Brevard County housing report for October 2017 has shown significant bounce back from the previous months storm recovery phase. Overall, appraisal values continue to be strong and “active” listing days on the market continues to dwindle. As we near the end of year selling period, November is trending strong regarding closed sales and pending/contingent transactions. Please click on CONTACT to get in touch and discuss our tailored marketing and proactive approach. Thank you!
A quick recap of the Brevard County Residential Report for October 2017:
- Closed Sales are down -2.8% for October 2017 in which the number of units closed was 694 compared to 714 in October 2016, with a decrease in cash sales of -14% compared to October 2016.
- New Pending Sales are up 33.2% and New Listings are up 15.3%.
- The Median Sales Price for Brevard Single Family homes is up 2.6% to $195,000 compared to a year ago, which was $190,000.
- Months Supply of Inventory is up 12.5% to 2.7 months, an increase from 2.4 months in 2016.
- Traditional Sales are down -2%, with a median sales price of $200,000.
- Foreclosure/REO Sales are down -9.5%, with a median sales price of $120,500.
- Short Sale Closings are down -33.3%, with a median sales price of $165,000
Click HERE for the detailed analysis of Single family home sell through.
A quick recap of the Brevard County Townhouses/Condos for October 2017:
- Closed Sales are up 5.5% for October 2017 in which the number of units closed was 193 compared to 183 in October 2016, with an increase in cash sales of 7.5% compared to October 2016.
- New Pending Sales are up 51.8% and New Listings are up 18.7%.
- Median Sales Price for Townhomes/Condos is up 8.8% to $160,000 compared to a year ago, which was $147,000.
- Months Supply of Inventory did not change. It was 3.4 months in October 2016 and October 2017.
- Traditional Sales are up 7%, with a median sales price of $160,000.
- Foreclosure/REO Sales decreased -20% with a median sales price of $125,163.
- Short Sale Closings saw no change in closed sales, and had a median sales price of $64,000 in October 2017.
Click HERE for the detailed analysis of Townhome/Condo sell through.