Brevard beachside flip book

2016 Brevard Beachside 1st Quarter Real Estate

MARKET REPORT

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FICE F O NEW

SATELLITE BEACH 1550 HWY A1A, Satellite Beach 321.222.9449

INDIALANTIC 232 Fifth Ave, Indialantic 321.951.3300

SEBASTIAN

1209 US Hwy 1 772.589.7777

VERO BEACH ISLAND

4625 HWY A1A 772.231.4880

Brevard Beachside 1st Quarter Comparison 2016 to 2015 Healthy Brevard Job Market Tightens Housing Market Prices Stabilize While Inventory Dips for Single Family Homes “Across the Space and Treasure Coast, when compared to other markets, Brevard is showing the healthiest growth,” said Steven Schlitt, co-owner and broker for Coldwell Banker Paradise. “The Space Coast is experiencing a healthy economic boom with jobs created by companies such as Grumman Corp. who added over 3,000 jobs, Embraer adding over 1,000 jobs and NASA adding over 2,000 positions all with salaries starting at over $70,000 per year,” stated Schlitt. Tight inventory levels resulted in significant price appreciation in the condo market in Brevard County for the first quarter of 2016, reported Coldwell Banker Paradise in its First Quarter Market Report.

“With the influx of those new families, if any home owner has thought they might consider selling, now would be the time to talk to one of our savvy real estate professionals,” added Schlitt. “Homes under $500,000 are uniquely positioned to take advantage of tight inventory. We should continue to see increases in prices, which is helping owners regain equity at a quicker pace than some of the other markets we are in,” Schlitt added.

“The average price increase of condos was a whopping 23.1% fueled by a big jump in sales of high end units. Within each price segment, prices increased 2% to 5%,” said Grace Drapeau, sales manager of the two Brevard County Coldwell Banker Paradise offices. Sales are down almost 10% in both condos and single family homes. The average price of a condo is up significantly but single

family houses are down an overall -3.2%, the only increase being 5.1% in homes priced under $250,000. “Healthy inventory levels of condos are keeping prices steady, making it necessary to price strategically in order to sell quickly,” added Drapeau. With a lack of available homes, now is precisely the right time for homeowners to explore what their home might be worth. “Don’t be fooled by one of those online websites, either!” said Drapeau. “Studies have shown that online sources can be off by as much as 21%. We have over 80 professional real estate agents working for Coldwell Banker Paradise in the Brevard market, and they are all well trained to evaluate your home and give you a cost you can trust is fair market value.”

Coldwell Banker Paradise has a new office in Satellite Beach and nine other offices spread over 100 miles of Florida’s coastline. In addition, Coldwell Banker Paradise prides itself on providing the best market analysis available to home buyers and sellers through its cutting edge technology, Quarterly Market Reports and its knowledgeable agents. “Our agents are the experts. They are in the neighborhoods, seeing what is selling and why. Ask your agents today what the true value of your home is worth,” urged Schlitt. You can reach 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

2016

153

71

1.4

$180,293

2015

185

118

1.9

$171,487

Change

-17.3%

-39.8%

-26.7%

+5.1%

2016

171

218

3.8

$341,767

2015

168

229

4.1

$344,651

Change

+1.8%

-4.8%

-6.7%

-0.8%

2016

33

130

11.8

$671,330

2015

42

114

8.1

$694,339

Change

-21.4%

+14.0%

+45.9%

-3.3%

2016

11

50

13.6

$1,423,636

2015

13

54

12.5

$1,772,154

Change

-15.4%

-7.4%

+9.1%

-19.7%

2016

368

469

3.8

$336,524

2015

408

515

3.8

$347,614

Change

-9.8%

-8.9%

+0.6%

-3.2%

Price Point Under $250,000

$250,001 to $500,000

$500,001 to $1,000,000

Over $1,000,000

Total

CONDOS

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2016

132

164

3.7

$132,752

2015

168

219

3.9

$126,348

Change

-21.4%

-25.1%

-4.4%

+5.1%

2016

77

188

7.3

$350,403

2015

75

142

5.7

$342,250

Change

+2.7%

+32.4%

+28.5%

+2.4%

2016

26

92

10.6

$649,134

2015

15

84

16.8

$622,167

Change

+73.3%

+9.5%

NA

+4.3%

2016

2

10

15.0

$1,100,000

2015

0

4

0

0

Change

0.0%

+150%

0%

100%

2016

237

454

5.7

$268,277

2015

258

449

5.2

$217,937

“With the influx of those new families, if any home owner has thought they might consider selling, now would be the time to talk to one of our savvy real estate professionals.”

E XC LU S I V E LY P R E S E N T I N G :

INDIALANTIC $825,000 As Seen on the Cover!!

MERRITT ISLAND $813.000

MERRITT ISLAND $825,000

MELBOURNE $574.900

INDIALANTIC $480,000

w w w. f l c o l d w e l l b a n k e r . c o m

COME VISIT OUR NEW SATELLITE BEACH OFFICE 1550 Florida A1A Satellite Beach, FL 32937 Office Phone: (321) 222-9449

A SELECTION OF RECENT SOLDS:

Indialantic 1525 N Highway A1A $450,000

Indialantic 1845 N Hwy A1A $600,000

C O L D W E L L

Merritt Island, 11510 Dragon Point Dr $535,000

B A N K E R

SATELLITE BEACH

INDIALANTIC

321-222-9449

321-951-3300

SEBASTIAN MAINLAND

772-589-7777

P A R A D I S E

VERO BEACH ISLAND 772-231-4880