2015 Brevard Island Third Quarter Market Report

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