In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5% (or)
Brevard Housing Report August 2017
Closed Sales are up 9.3% for August 2017 in which the number of units closed was 961 compared to 879 in August 2016, with an increase in cash sales of 0.4% compared to August 2016.
New Pending Sales are up 2.3% and New Listings are up 6.4%.
The Median Sales Price for Brevard Single Family homes is up 14.1% to $222,500 compared to a year ago, which was $195,000.
Months Supply of Inventory is up 8% to 2.7 months, up from 2.5 months in 2016.
Traditional Sales are up 12.1%, with a median sales price of $225,000
Foreclosure/REO Sales are down -26%, with a median sales price of $127,300.
Short Sale Closings are down -33.3%, with a median sales price of $225,000.
Closed Sales are down -7.0% for August 2017 in which the number of units closed was 240 compared to 258 in August 2016, with a decrease in cash sales of 23.3% compared to August 2016.
New Pending Sales are down -0.4% and New Listings are up 24.2%.
Median Sales Price for Townhomes/Condos is down -0.6% to $153,125 compared to a year ago, which was $154,000.
Months Supply of Inventory did not change. It was 3.4 months in August 2016 and August 2017.
Traditional Sales are down -5%, with a median sales price of $153,125.
Foreclosure/REO Sales decreased -42.9 with a median sales price of $145,000.
Short Sale Closings increased 204.4%, with a median sales price of $342,250 in August 2017.
To see these and previous reports on Brevard MLS Statistics, please click here »
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The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate