Market Report–Brevard County FL Real Estate–May 2012

 

Brevard County FL Real Estate, including single family residential, condo, townhouse and vacant lots:

There were 805 new listings.Cape Canaveral Beaches by Sandy Shores, Broker Associate

There were 530 sold listings.

Average sales price was $151,917.

Average days on the market were 116.

For single family residential units only:

There were 566 new listings.

This is an increase of 20.68% from May 2011 of 469 listings.

There were 413 sold listings.

This is an increase of 2.23% from May 2011 of 404 sold listings.

The average sale price in May 2012 was $149,841.

This is an increase of 1.88% from May 2011 of $147,083.

Average days on the market were 94, a decrease of 22.31% from May 2011 of 121 days.

Source: Melbourne Association of Realtors

Brevard County showed a 2.32% increase in the number of total properties (single family, condo & townhouses) sold in May 2012 compared to May 2011. And, we noticed an impressive increase of 10.20% in average sales price from last year to now. We are still experiencing an uptick in our market. And, we are finding that clean, well priced properties are moving off the market quickly. Our inventory of homes for sale is still dwindling.

We are still finding a high number of investors in the market, scooping up properties, in multiple offer situations with cash. Our second/vacation home market is still moving along briskly. Brevard County is still a favorite destination for those buyers moving south, or just looking for a vacation home, because our great weather, the Indian and Banana rivers and the beautiful sandy beaches. There are also some nice tax incentives here in Florida. (Please consult a CPA or tax accountant for more info on taxes.)

Earlier in the year, we found that snowbirds were coming out of their rentals to buy a property for next year. Most of them have gone back up north, as we have seen our temperatures slowly inching their way up. Although much needed rainfall has kept the temperatures from being sweltering hot. Our snowbirds will be back in the Fall.

Today, Brevard County prices are still proving to be quite affordable compared to neighboring cities in Florida.

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