new listings for condominiums are down over 2.8%
The Brevard housing market reported higher median prices, more new offers and a year-over-year increase in cash sales in August. The average sales price for Brevard single-family homes is up + 21.0% to $ 325,000, compared to $ 268,500 a year ago.
The median sales price for townhouses and condos is up 17.6% to $ 261,868, compared to last year’s $ 222,750.
BREVARD COUNTY, FLORIDA – The Brevard housing market reported higher average prices, more new listings and a year-over-year increase in cash sales in August.
“The latest data shows that the number of new offers for single-family homes here on the Space Coast continues to rise,” said Jennifer McCoy of McCoy Freeman Real Estate, which looks after the entire Space Coast of Florida.
“However, the new entries for condominiums fell by over 2.8% and the active portfolio by over 36%. This means that we are still very deep in the seller’s market area and there is still a long way to go back to a balanced market. “
The average contract term for single-family houses is 8 days, 61.9% less than in the previous year.
Single family home closed sales were up 7.9% year over year, which is impressive given the rate of home sales at that time over the past year.
However, the condominium and townhouse market remains the hotter market for now. In August, sales in this property category rose by over 11 percent compared to the previous year.
A brief summary of Brevard County’s single-family report for August 2021.
Summary of Brevard County’s Single Family Report for August 2021
■ Closed sales increased 7.9% in August 2021, with the number of closed units being 1,069 compared to 991 in August 2020, with cash sales increasing + 61.9%.
■ New pending sales increased + 3.2% and new offers increased + 23.5%.
■ The average sales price for Brevard single-family homes is up + 21.0% to $ 325,000, compared to $ 268,500 a year ago.
■ Monthly inventory levels are down -38.9% to 1.1 months, down from 1.8 months in August 2020.
■ Traditional sales are up 8.4%, with an average selling price of $ 325,000.
■ Foreclosure / REO Sales are down -33.3%, with 8 closed sales and an average sale price of $ 245,080.
■ Short sales are 0.0% with 2 closed sales in August 2021 and 2 closed sales in August 2020.
A brief summary of the Brevard County Townhouses & Condos Report for August 2021.
Summary of the Brevard County Townhouses & Condos Report for August 2021
■ Closed sales increased + 11.1% in August 2021, with the number of closed units being 300 compared to 270 in August 2020, with cash sales increasing + 21.4%.
■ New pending sales down -10.7% and new offers down -2.8%.
■ The median sales price for townhouses and condos is up 17.6% to $ 261,868, compared to $ 222,750 a year ago.
■ The supply of inventory in months decreased by -48.1% from 2.7 months in August 2020 to 1.4 months in August 2021.
■ Traditional sales are up + 10.8%, with an average selling price of $ 263,660.
■ Foreclosure / REO Sales are N / A, with 1 closed sale and an average sale price of $ 170,000.
■ Short sales are 0.0% with 1 closed sale in August 2021 and 1 closed sale in August 2020.
ABOUT THE AUTHOR
Freeman, Jennifer McCoy and Nikki McCoy-Freeman are family owners of the McCoy-Freeman Real Estate Group on Florida’s Space Coast. Together, they have over 40 years of extensive experience in all aspects of the real estate industry, have sold over $ 420 million, and are among the top 1% of all Florida real estate agents.
Bobby Freeman, a lifelong resident of Brevard County, has been a top real estate agent in the area for over two decades. In his first year as an agent, Freeman received a Rising Star Award from his brokers. Since then, he has received numerous sales awards from some of the largest real estate companies in the world.
Freeman, Jennifer McCoy and Nikki McCoy-Freeman are family owners of the McCoy-Freeman Real Estate Group on Florida’s Space Coast. Together, they have over 40 years of extensive experience in all aspects of the real estate industry, have sold over $ 420 million, and are among the top 1% of all Florida real estate agents.
McCoy-Freeman Group’s achievements include Certified Luxury Home Marketing Specialist (CLHMS), Certified Distressed Property Experts (CDPE), Accredited Buyer Representative (ABR), and Brevard County’s Best Real Estate Agent. The group has been featured in many 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.
CLICK HERE FOR THE LATEST NEWS FROM BREVARD COUNTY
source https://www.bisayanews.com/2021/09/27/brevard-real-estate-report-listings-increase-for-single-family-homes-median-sales-price-up-21-0-to-325000/
No comments:
Post a Comment