Space Coast market overview for June 2016
Market Overview June 2016 vs. 2015
I am excited to bring the most current and accurate market overview to you all on a monthly basis. In these ever changing economic times,it is crucial to have a firm grasp of Brevard County Real Estate market conditions.
Single Family market overview for June 2016:
Closed Sales are up 9% for June 2016 in which the number of units closed was 1,033 compared to 948 in June 2015, with a decrease in cash sales by -10.5% compared to June 2015.
- New Pending Sales are down -8.3% and New Listings are up 4.4%.
- The Median Sales Price for Brevard Single Family homes is up 11.8% to $189,925 compared to a year ago, which was $169,900.
- Months Supply of Inventory is down -6.9% at 2.7 months compared to 2.9 months in June 2015.
- Traditional Sales are up 22.8%, with a median sales price of $195,000.
- Foreclosure/REO Sales are down -56.6%, with a median sales price of $115,000.
- Short Sale Closings are down -50%, with a median sales price of $135,500.
A quick recap of the Brevard County Townhouses/Condos for June 2016 compared to June 2015:
- Closed Sales are down -3.3% for June 2016 in which the number of units closed was 264 compared to 273 in June 2015, with an decrease in cash sales by -22.1% compared to June 2015.
- New Pending Sales are down -18.3% and New Listings are up 5.3%.
- Median Sales Price for Townhomes/Condos is up 14.9% to $154,500 compared to a year ago, which was $134,500.
- Months Supply of Inventory is up 2.7% to 3.8 months compared to 3.7 months in June 2015.
- Traditional Sales are up 6.8%, with a median sales price of $157,000.
- Foreclosure/REO Sales are down -67.6%, with a median sales price of $84,250.
- Short Sale Closings stayed the same, with a median sales price of $32,500.
Sourced: Florida Association of Realtors