Space Coast Home Market Conditions for May ’22

SINGLE FAMILY STATISTICS

• Closed Sales are up 1.4% for May 2022 in which the number of units closed was 1,054 compared to 1,039 in May 2021, with an increase in cash sales of 11.5%.
• New Pending Sales are up 7.4% and New Listings are up 23.5%.
• The Median Sales Price for Brevard Single Family homes is up 29.3% to $375,000 compared to a year ago, which was $290,000.
• Months’ Supply of Inventory is up 37.5% to 1.1 months, from 0.8 months in May 2021.
• Traditional Sales are up 1.6% with a median sales price of $375,510.
• Foreclosure/REO Sales are down -50.0% with 3 closed sales and a median sales price of $141,000.
• Short Sale Closings are N/A with 1 closed sale and a median sales price of $248,500.

TOWNHOME/CONDO STATISTICS

• Closed Sales are down -7.2% for May 2022 in which the number of units closed was 271 compared to 292 in May 2021, with an increase in cash sales of 0.7%.
• New Pending Sales are down -21.3% and New Listings are up 7.5%.
• Median Sales Price for Townhomes/Condos is up 29.2% to $300,000 compared to a year ago, which was $232,250.
• Months’ Supply of Inventory is up 10.0% to 1.1 months in May 2022 from 1.0 months in May 2021.
• Traditional Sales are down -6.9% with a median sales price of $300,000.
• Foreclosure/REO Sales are down -100.0% with a median sales price (no sales) and 0 closed sales.
• Short Sale Closings are N/A with 0 closed sales in May 2022 and 0 closed sales in May 2021.

Source: Space Coast Association of REALTORS