2015 Brevard Island Year End Real Estate
M A R K E T R E P O RT
NEW
CE!
OFFI
SATELLITE BEACH INDIALANTIC SEBASTIAN VERO BEACH 1550 HWY A1A, 232 Fifth Ave, Indialantic 1209 US Hwy 1 ISLAND Satellite Beach 321.951.3300
321.951.3300
772.589.7777 4625 HWY A1A 772.231.4880
Brevard Island Year End Comparison 2015 to 2014 2016 Poised to be a Good Year for Brevard Island Housing Marketing Tight inventory levels resulted in price appreciation for almost all segments of the Brevard Island housing market, reports Coldwell Banker Paradise in their just released Year End Market Report for 2015. Sales are generally up across the price spectrum, with an overall increase in sales of 5.3% for single family homes. A shortage of available homes for sale caused double digit price appreciation, averaging a 14.5% price increase for single family homes and 13.1% for condominiums over this time last year. In general, 2015 was a healthy year for the Space Coast housing market: many homeowners regained essential equity, and housing prices across the board steadily increased. However, a more stable trend slowly emerged during the summer and fall of 2015, and that was a slowing or decrease of available homes for sale in the marketplace. In fact, during November and into December the shortage of inventory resulted in a decrease in sales – there simply were not enough homes for buyers to purchase. For condominium owners, steady sales of lower priced units drove the 2015 market, causing the average price to level out, and inventory levels in that category to decrease by 25%. “In early 2015, we saw prices rise for condos. Over the summer and into the fall, the market self
corrected, with sales slowing and more price stabilization,” added Schlitt Gonzalez. With a lack of available homes, now is precisely the right time for homeowners to explore just what their home might be worth. How can someone find out what their house might be worth? You can go online, but studies have shown that estimates from national online sources can be as much as 21% off – the only real number a homeowner can trust is from a reputable, professional Realtor who specializes in their neighborhood. With a new office in Satellite Beach and nine other offices spread over 100 miles of Florida’s coastline, Coldwell Banker Paradise remains the go-to-agency for buyers and sellers. In addition, Coldwell Banker Paradise prides itself on providing the best market analysis available to home buyers and sellers through its Quarterly Market Reports and it’s knowledgeable agents. “Our agents are the experts, they are in the neighborhoods, seeing what is selling and why. Ask our agents today,” urged Schlitt. You can reach our Melbourne offices at 321-951-3300.
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
2015
782
92
1.4
$175,440
2014
939
130
1.7
$164,326
Change
-16.7%
-29.2%
-17.0%
+6.8%
2015
849
192
2.7
$342,620
2014
661
219
4.0
$338,732
Change
+28.4%
-12.3%
-32.2%
+1.1%
2015
195
117
7.2
$666,986
2014
148
115
9.3
$663,025
Change
+31.8%
+1.7%
-22.6%
+0.6%
2015
47
55
14.0
$1,456,926
2014
30
60
24.0
$1,414, 313
Change
+56.7%
-8.3%
-41.5%
+3.0%
2015
1873
456
2.9
$334,552
2014
1778
524
3.5
$292,252
Change
+5.3%
-13.0%
-16.5%
+14.5%
For condominium owners, steady sales of lower priced units drove the 2015 market.
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
2015
720
136
2.3
$129,106
2014
971
286
3.5
$138,376
Change
-25.8%
-52.4%
-35.2%
-6.7%
2015
365
135
4.4
$341,951
2014
323
158
5.9
$334,791
Change
+13.0%
-14.6%
-24.8%
+2.1%
2015
79
79
12.0
$608,562
2014
45
70
18.7
$660,441
Change
+75.6%
+12.9%
-35.8%
-7.9%
2015
2
12
0
$1,127,500
2014
0
3
0
$0
Change
0.0%
300%
0%
100%
2015
1166
362
3.7
$229,931
2014
1339
517
4.6
$203,301
Change
-12.9%
-30.0%
-19.0%
+13.1%
E X C L U S I V E LY P R E S E N T I N G :
MERRITT ISLAND RIVERFRONT $813,000
INDIALANTIC $490.000
MELBOURNE BEACH NEW CONSTRUCTION $599,000
MELBOURNE BEACH $438.900
SATELLITE BEACH $415,000 As seen on cover!
www.flcoldwellbanker.com
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STUART, FL PERMIT NO. 274
RESIDENTIAL CUSTOMER
A SELECTION OF RECENT SOLDS:
Melbourne Beach 284 Clyde Street $424,000
Indialantic 995 N Hwy A1A $240,000
C O L D W E L L
B A N K E R
SATELLITE BEACH INDIALANTIC 321-951-3300
Cocoa Beach, 400 Ocean Beach Blvd $205,000
321-951-3300
SEBASTIAN MAINLAND
772-589-7777
VERO BEACH ISLAND 772-231-4880
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