new listings for condos are down over 2.8%
Median Gross sales Value for Townhouses & Condos is up +17.6% to $261,868 in comparison with a yr in the past, which was $222,750.
BREVARD COUNTY, FLORIDA – The Brevard housing market reported increased median costs, extra new listings, and an increase in all-cash gross sales in August in comparison with a yr in the past.
“The present knowledge exhibits that new listings proceed to extend for single-family properties right here on the Area Coast,” stated Jennifer McCoy with McCoy Freeman Actual Property serving all of Florida’s Area Coast.
“Nevertheless, new listings for condos is down over 2.8% and lively stock is down over 36%. This implies we’re nonetheless very deep into vendor’s market territory and it continues to be an extended highway again to a balanced market.”
The median time to contract for single-family properties in 8 days, down 61.9% from final yr.
Closed gross sales of single-family properties had been up 7.9% in comparison with a yr in the past, which is spectacular given the speed at which properties had been promoting presently final yr.
The marketplace for condos and townhouses, nonetheless, stays the warmer marketplace for now. August gross sales on this property kind class had been up over 11 p.c year-over-year.
Recap of the Brevard County Single-Household Report for August 2021
■ Closed Gross sales are up +7.9% for August 2021 through which the variety of models closed was 1,069 in comparison with 991 in August 2020, with a rise in money gross sales of +61.9%.
■ New Pending Gross sales are up +3.2% and New Listings are up +23.5%.
■ The Median Gross sales Value for Brevard Single Household properties is up +21.0% to $325,000 in comparison with a yr in the past, which was $268,500.
■ Months’ Provide of Stock is down -38.9% to 1.1 months, a lower from 1.8 months in August 2020.
■ Conventional Gross sales are up +8.4%, with a median gross sales worth of $325,000.
■ Foreclosures/REO Gross sales are down -33.3%, with 8 closed gross sales and a median gross sales worth of $245,080.
■ Quick Sale Closings are 0.0% with 2 closed gross sales in August 2021 and a pair of closed gross sales in August 2020.
Recap of the Brevard County Townhouses & Condos Report for August 2021
■ Closed Gross sales are up +11.1% for August 2021 through which the variety of models closed was 300 in comparison with 270 in August 2020, with a rise in money gross sales of +21.4%.
■ New Pending Gross sales are down -10.7% and New Listings are down -2.8%.
■ Median Gross sales Value for Townhouses & Condos is up +17.6% to $261,868 in comparison with a yr in the past, which was $222,750.
■ Months’ Provide of Stock is down -48.1% to 1.4 months in August 2021 from 2.7 months in August 2020.
■ Conventional Gross sales are up +10.8%, with a median gross sales worth of $263,660.
■ Foreclosures/REO Gross sales are N/A, with 1 closed sale and a median gross sales worth of $170,000.
■ Quick Sale Closings are 0.0% with 1 closed sale in August 2021 and 1 closed sale in August 2020.
ABOUT THE AUTHOR
Bobby Freeman, a lifetime resident of Brevard County, has been a prime Realtor within the space for over 20 years. In his first yr as an agent, Freeman obtained a Rising Star award from his Brokers. Since then he has achieved quite a few gross sales awards from a number of the largest actual property corporations on the earth.
Freeman, Jennifer McCoy and Nikki McCoy-Freeman are household house owners of the McCoy-Freeman Actual Property Group on Florida’s Area Coast. Collectively they’ve greater than 40 years of intensive expertise in all features of the true property business, have offered over $420 million and are ranked within the prime 1% of all Florida Realtors.
Amongst McCoy-Freeman Group’s achievements are Licensed Luxurious Residence Advertising and marketing Specialist (CLHMS), Licensed Distressed Property Consultants (CDPE), Accredited Purchaser’s Consultant (ABR) and voted Greatest Realtor in Brevard County. The group has been featured in lots of information publications together with CNN Cash Journal, CNNMoney.com, WFTV 9 Information, Information 13, WKMG Information 6, Coastal Apartment Dwelling Journal, Scorching Retirement Cities Journal, and SpaceCoastDaily.com.
CLICK HERE FOR BREVARD COUNTY NEWS