Brevard Median Gross sales Value for Townhomes/Condos is up 32.4% to $225,000
BREVARD COUNTY, FLORIDA – Florida’s Area Coast housing market continued to indicate momentum in January even with the continuing pandemic, with extra closed gross sales, rising median costs, extra new pending gross sales and elevated pending stock in comparison with a 12 months in the past.
Obtainable properties on the market in Brevard dropped 40.2% for single-family houses and 51.3% for condos/townhomes in January.
“Our low stock and really excessive purchaser demand proceed to place strain on Brevard house costs,” mentioned Jennifer McCoy of McCoy Freeman Actual Property. which serves all of Florida’s Area Coast.
“Seventeen p.c year-over-year progress in single-family gross sales and over 13% progress in condominium and townhouse gross sales is method above our historic common and we’ll probably stay properly above our historic common for many, if not all, of 2021.”
The first purpose for that’s that mortgage charges will proceed to stay fairly low in the course of the 12 months.
Based on Freddie Mac, the rate of interest for a 30-year fixed-rate mortgage averaged 2.75% in January 2021, considerably decrease than the three.62% common throughout the identical month a 12 months earlier.
Recap of the Brevard County Residential Report for January 2021:
■ Closed Gross sales are up +17.2% for January 2021 wherein the variety of models closed was 702 in comparison with 599 in January 2020, with a lower in money gross sales of -5.5%.
■ New Pending Gross sales are up +13.7% and New Listings are down -8.2%.
■ The Median Gross sales Value for Brevard Single Household houses is up +10.8% to $267,000 in comparison with a 12 months in the past, which was $240,982.
■ Months Provide of Stock is down -53.8% to 1.2 months, a lower from 2.6 months in January 2020.
■ Conventional Gross sales are up +20.0%, with a median gross sales worth of $267,044.
■ Foreclosures/REO Gross sales are down -78.9%, with 4 closed gross sales and a median gross sales worth of $242,500.
■ Brief Sale Closings are up with 3 closed gross sales and a median gross sales worth of $199,900 in comparison with 1 closed gross sales in January 2020.
Recap of the Brevard County Townhouses/Condos for January 2021:
■ Closed Gross sales are up +13.7% for January 2021 wherein the variety of models closed was 199 in comparison with 175 in January 2020, with a rise in money gross sales of +3.4% in comparison with January 2021.
■ New Pending Gross sales are up +17.6% and New Listings are down -11.7%.
■ Median Gross sales Value for Townhomes/Condos is up +32.4% to $225,000 in comparison with a 12 months in the past, which was $170,000.
■ Months Provide of Stock is down -41.2% to 2.0 months in January 2021 from 3.4 months in January 2020.
■ Conventional Gross sales are up +13.1%, with a median gross sales worth of $22.
■ Foreclosures/REO Gross sales are up with 1 closed sale at $580,000 in comparison with 0 closed gross sales in January 2020.
■ Brief Sale Closings are unchanged with 0 closed gross sales in January 2021 and 0 closed gross sales in January 2020.
ABOUT THE AUTHOR
Bobby Freeman, a lifetime resident of Brevard County, has been a high Realtor within the space for over 20 years. In his first 12 months as an agent, Freeman obtained a Rising Star award from his Brokers. Since then he has achieved quite a few gross sales awards from among the largest actual property companies on the planet.
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 in depth expertise in all elements of the actual property trade, have bought over $420 million and are ranked within the high 1% of all Florida Realtors.
Amongst McCoy-Freeman Group’s achievements are Licensed Luxurious House Advertising Specialist (CLHMS), Licensed Distressed Property Specialists (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 Condominium Residing Journal, Sizzling Retirement Cities Journal, and SpaceCoastDaily.com.
For extra info go browsing to BrevardRealtyConnection.com
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