2017 Brevard Beachside Mid-Year Real Estate
M A R K E T R E P O RT $2,200,000
8333 S Highway A1A, Melbourne Beach Offered by Sarah Munkacsy
SATELLITE BEACH
1550 FLORIDA A1A 321-222-9449
INDIALANTIC
232 FIFTH AVE 321-951-3300
SEBASTIAN
1209 US-1 772-589-7777
Brevard Beachside Mid-Year Comparison 2017 to 2016 Appreciation Leads to Increases in Beachside Inventory With double digit increases in current listings, the Brevard County Island housing market continues at a strong pace, reports Coldwell Banker Paradise in their recently released Mid-Year Housing Report.
“As interest rate increases raise loan payments, and inventories rise, home price increases will not be as large going forward. So now is also a good time for Sellers,” added Gonzalez.
Many homeowners, especially at the over $500K price point, have recovered enough equity to start exploring their options. This has led to an increase of sales at this level. “Buyers are quick to realize that buying Beachside in Brevard is a good value for their money,” stated Coldwell Banker Paradise Co-Owner and Broker Linda Schlitt Gonzalez.
The leader in full service local real estate, Coldwell Banker Paradise agents closed over 2,234 transactions in the last year, placing the company as the 350th largest broker in the country in units sold, according to the Real Trends 500 survey. Nationally, Coldwell Banker out-produced every other national brand, ranking #1 for dollar volume.
The combination of new home buyers, job relocators and buyers coming from outside the area has left inventories tight. Although the inventory supply is climbing slightly, there is only a 3.2 month inventory and this has led to a 16% growth in average resale price. Condominium also saw significant listing activity. However, there has been a slight adjustment in prices overall, with most price levels seeing slight decreases.
With eleven offices from Stuart to Satellite Beach, Coldwell Banker Paradise prides itself on providing the best market analysis available to home buyers and sellers through its Quarterly Market Reports and its knowledgeable agents. To find out what your home may be worth in this market, call our Indialantic office at 321-951-3300 or our Satellite Beach office at 321-222-9449.
SINGLE FAMILY HOMES Price Point Under $250,000
$250,001 to $500,000
$500,001 to $1,000,000
Over $1,000,000
Total
Year
Homes Sold
Current Listings
Month’s Supply
Average Price
2017
254
36
0.9
$191,185
2016
34
43
0.8
$181,249
Change
-19.1%
-16.3%
+3.5%
+5.0%
2017
463
223
2.9
$368,693
2016
443
209
2.8
$341,579
Change
+4.5%
+6.7%
+2.1%
+8.0%
2017
139
139
6.0
$662,853
2016
105
107
6.1
$655,534
Change
+32.4%
+29.9%
-1.9%
+1.0%
2017
26
74
17.1
$1,391,781
2016
22
35
9.5
$1,433,795
Change
+18.2%
+111.4%
+78.9%
-3.0%
2017
882
472
3.2
$394,091
2016
884
394
2.7
$349,080
Change
-0.2%
+19.8%
+20.7%
+13.0%
CONDOS Price Point Under $250,000
$250,001 to $500,000
$500,001 to $1,000,000
Over $1,000,000
Total
Year
Condos Sold
Current Listings
Month’s Supply
Average Price
2017
327
96
1.8
$145,236
2016
343
133
2.3
$136,420
Change
-4.7%
-27.8%
-24.3%
+6.0%
2017
185
159
5.2
$345,300
2016
194
126
3.9
$353,605
Change
-4.6%
+26.2%
+32.2%
-2.0%
2017
46
101
13.2
$629,098
2016
52
54
6.2
$665,863
Change
-11.5%
+87.0%
+111.4%
-6.0%
2017
1
10
60.0
$1,970,000
2016
3
5
10.0
$1,083,333
Change
-66.7%
+100.0%
+500.0%
+82.0%
2017
559
366
3.9
$254,528
2016
592
318
3.2
$258,895
Change
-5.6%
+15.1%
+21.9%
-2.0%
New to the Market
$2,250,000
200 Sundance Lane, Merritt Island
$594,900
509 Harland Ave, Melbourne Beach
A Selection of Recently Sold Properties
$1,250,000
7701 S Highway A1A
$835,000
1166 SE Conference Circle
$709,000
2002 Neptune Drive