2016 Brevard Beachside 1st Quarter Real Estate
MARKET REPORT
! 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