Brevard Beachside 2nd Quarter Market Report 2017

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