2015 Brevard Island Third Quarter Real Estate
M A R K E T R E P O RT
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 Island 3rd-Quarter Comparison 2015 to 2014 2015 A Good Year for Brevard Island Housing Marketing Steady sales, tightening inventory, and increasing prices continue to feed an overall healthy housing market for Brevard Island, reports Coldwell Banker Paradise in their just released 3rd Quarter Market Report for 2015. Sales are generally up across the price spectrum, averaging a 13.5% increase for single family homes over this time last year. The biggest gain in sales came from luxury properties priced over $1m – in fact the sales increase of Brevard Island luxury homes outpaced similar properties in both Indian River and St. Lucie Counties. “Brevard County benefits from not only having wonderful beachside communities with lovely properties throughout, but has a good supply of highly-skilled employment opportunities,” added Coldwell Banker Paradise Co-Owner “When it comes and Broker Steven Schlitt. “That unique condos, the time combination makes this area highly attractive was yesterday.” to those moving from the larger metro areas such as Miami or Orlando.” Sales of Brevard Island condos follow the trend all along the Space and Treasure Coast of a shortage of inventory resulting in a decrease in sales. With almost half the inventory as this time last year, both prices and inventory continue to fall for condominiums. “Condos continue to be a solid investment all along the Treasure Coast,” reports Schlitt. With inventory dropping, market price has yet to catch up, resulting in
stagnant to little price fluctuations. “When it comes to condos, the time to buy is now.With inventory dropping, inventory prices will soon increase.” added Schlitt. With prices steadily rising, homeowners have regained essential equity. “Sellers can be confident that now is the time to explore putting their house or condo on the market. If a homeowner hasn’t looked into how much their house might be worth, they will be pleasantly surprised,” added Schlitt. As a market leader, with cutting edge tools, and information available to them, Coldwell Banker Paradise agents are uniquely positioned to offer customized market analysis to their clients, on a one-on-one basis. to With ten offices from Jensen to Satellite Beach and to buy an agent base of 260, 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.Want to know what is happening in your neighborhood, as compared to your surrounding county and the region? Ask our agents today,” urged Schlitt. You can reach our Melbourne office 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
641
70
1.0
$175,532
2014
636
139
1.8
$163,345
Change
+0.8%
-49.6%
-45.4%
+7.5%
2015
669
193
2.6
$342,973
2014
489
222
4.1
$338,156
Change
+36.8%
-13.1%
-36.7%
+1.4%
2015
151
124
7.4
$669,312
2014
110
109
8.9
$663,025
Change
+37.3%
+13.8%
-17.0%
+0.9%
2015
36
51
12.8
$1,473,069
2014
21
61
26.1
$1,454,019
Change
+71.4%
-16.4%
-51.1%
+1.3%
2015
1497
438
2.6
$331,370
2014
1319
531
3.6
$290,374
Change
+13.5%
-17.5%
-26.9%
+14.1%
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
583
135
2.1
$127,792
2014
729
257
3.2
$138,243
Change
-20.0%
-47.5%
-34.9%
-7.6%
2015
298
138
4.2
$341,689
2014
238
163
6.2
$334,309
Change
+25.2%
-15.3%
-32.8%
+2.2%
2015
61
65
9.6
$595,673
2014
34
60
15.9
$669,221
Change
+79.4%
+8.3%
-39.7%
-11.0%
2015
1
7
0
$1,005,000
2014
0
3
0
$0
Change
+100%
+133.3%
0%
+100%
2015
943
345
3.3
$226,582
2014
1001
483
4.3
$202,895
Change
-5.8%
-28.6%
-23.4%
+11.7%
What is my home or condo worth in today’s market?
Did you know that some online comparative analysis tools can be more than10% off? With Brevard County Island homes now averaging $330K,that could mean your house could be worth $33,000 more than that website you just visited estimated. When was the last time you walked away from $33K? Only an expert in the local market can offer truly accurate local market analysis. As deep-rooted community members and leaders, Coldwell Banker Paradise agents have the big picture view, they know what sells and why, for what price, and how to get the most out of the market, both as a buyer and a seller. With Coldwell Banker Paradise agents you can trust that they are giving you the best information, the best service and the best experience available. Call today to find out what your home is really worth. In Melbourne call us at 321-951-3300.
E X C L U S I V E LY P R E S E N T I N G :
MELBOURNE BEACH $539,000 Executive 4/3 waterfront home offers 2 docks PLUS deeded private boat & dock slip.
SATELLITE BEACH $450,000 Spacious corner unit with a wrap around porch, 2180 sq feet and three bedrooms.
MELBOURNE BEACH $329,000 Beautiful custom build brick over frame 3/2 with open floor plan, stone fireplace, exquisite finishings.
INDIALANTIC $284,900 Recently updated condo, overlooking pool and ocean view.
flcoldwellbanker.com
PRSRT SSTD ECRWSS U.S. POSTAGE PAID EDDMRETAIL
a selection of recent solds:
Melbourne 581 Oceanside Blvd $430,000
Merritt Island 1100 Old Parsonage Dr $290,000
Indialantic 314 Cocoa Avenue $375,000
THE RIGHT REPRESENTATION MAKES ALL THE DIFFERENCE Coldwell Banker Paradise is the largest real estate brokerage firm in the area, with ten offices serving St. Lucie, Indian River and Brevard Counties. We are commited to providing the highest level of real estate services to our clients with comprehensive regional marketing. For over 60 years our family-owned and operated company has assembled a highly trained and professional sales organization. We have specialists in residential and commercial sales, leasing services for both, as well as a property management division. Whether you are considering buying, selling, leasing or professional management of your property, give us a call. We are open 7 days a week for your convenience.
C O L D W E L L SATELLITE BEACH
321-951-3300
B A N K E R
INDIALANTIC BREVARD 321-951-3300
SEBASTIAN MAINLAND
772-589-7777
VERO BEACH ISLAND 772-231-4880
P A R A D I S E VERO BEACH MAINLAND 772-778-2029