Brevard Island Year End 2015 Market Report

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

PRST STD ECRWSS U.S. POSTAGE

PAID

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

P A R A D I S E