Median sale price of townhouses / condos up 17.1%
The interest rate for a 30-year fixed rate mortgage was on average 3.07% last month, compared to 2.83% on average in October 2020
BREVARD COUNTY, FLORIDA – The Brevard housing market reported higher median prices, more new listings and increased cash sales in October compared to a year ago.
“On-hand inventory continues to be at low levels, putting pressure on prices and the speed with which buyers submit sales contracts,” says Jennifer McCoy of McCoy Freeman Real Estate serving the entire space coast of the United States. Florida.
“At this time last year, the median time to contract was 20 days, it is now 10 days,” McCoy said.
The median selling price of existing single-family homes on the Space Coast in October was $ 327,000, up 19.3% from the previous year.
According to Freddie Mac, the interest rate on a 30-year fixed-rate mortgage was on average 3.07% last month, up from 2.83% on average in October 2020.
Brevard County Residential Report Summary for October 2021:
■ Closed Sales are up + 3.9% for October 2021, the number of closed units of which was 1,069 compared to 1,029 in October 2020, with an increase in cash sales of + 56.5%.
■ Pending new sales are down -3.1% and new listings are down -5.2%.
■ The median selling price of Brevard single-family homes is up + 19.3% to $ 327,000 from a year ago, which was $ 274,150.
■ Months Inventory supply was down -33.3% at 1.0 month, down from 1.5 months in October 2020.
■ Traditional sales are up + 4.1% with a median selling price of $ 327,000.
■ Foreclosure / REO Sales are down -80.0% with 1 closed sale and a median sale price of $ 219,900.
■ Short sell close is N / A with 2 closed sales and a median sell price of $ 242,500.
Brevard County Townhouse / Condo Recap for October 2021:
■ Closed Sales are down -1.8% for October 2021, where the number of closed units was 276 compared to 281 in October 2020, with an increase in cash sales of + 11.3%.
■ New pending sales are down -0.3% and new listings are down -1.7%.
■ The median sale price of townhouses / condos is up 17.1% to $ 249,450 from a year ago, which was $ 213,000.
■ Months Inventory supply was down -41.7% to 1.4 months, down from 2.4 months in October 2020.
■ Traditional sales are down -1.1% with a median selling price of $ 249,450.
■ Foreclosure / REO Sales are down -100% with a median selling price of (no sales).
■ Short sales closings are N / A with 0 sales closed in October 2021 and 0 sales closed in October 2020.
ABOUT THE AUTHOR
Bobby Freeman, a life resident of Brevard County, has been one of the area’s top real estate agents for over two decades. During his first year as an agent, Freeman received a Rising Star award from his brokers. Since then it has won numerous auction awards from some of the biggest real estate companies in the world.
Freeman, Jennifer McCoy and Nikki McCoy-Freeman are the family owners of the McCoy-Freeman real estate group on Florida’s Space Coast. Together, they have over 40 years of in-depth experience in all aspects of the real estate industry, have sold over $ 420 million, and are ranked in the top 1% of all Florida real estate agents.
Some of the McCoy-Freeman Group’s accomplishments include Certified Luxury Home Marketing Specialist (CLHMS), Certified Distressed Property Experts (CDPE), Accredited Buyer’s Representative (ABR) and Top Real Estate Agent in the Brevard County. The group has been featured in numerous news publications including CNN Money Magazine, CNNMoney.com, WFTV 9 News, News 13, WKMG News 6, Coastal Condo Living Magazine, Hot Retirement Towns Magazine and SpaceCoastDaily.com.
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