2017 Brevard Mainland Mid-Year Real Estate
MARKET REPORT $999,000
2799 Wyndham Way Offered by Paul Frommann
SATELLITE BEACH
1550 FLORIDA A1A 321-222-9449
INDIALANTIC
232 FIFTH AVE 321-951-3300
SEBASTIAN
1209 US-1 772-589-7777
Brevard Mainland Mid-Year Comparison 2017 to 2016 Appreciation Leads to Increases in Mainland Inventory With double digit increases in current listings, the Brevard County housing market continues at a strong pace, reports Coldwell Banker Paradise in their recently released MidYear Housing Report. Many homeowners, especially at the over $250K price point, have recovered enough equity to start exploring their options. This has led to an increase of sales at this level. The combination of new home buyers, job relocators and buyers coming from outside the area has left inventory levels low at only 2.2 months. This tightening of inventory has led to a 15% average price increase overall. “Buyers are quick to realize that they can get more for their money in Melbourne, West Melbourne and Palm Bay than in other cities,” stated Coldwell Banker Paradise Co-Owner and Broker Linda Schlitt Gonzalez. Condominium also saw significant listing activity. “With interest rates likely to rise, now would be advisable for buyers to jump in,” added Gonzalez.
The leader in full service local real estate, Coldwell Banker Paradise agents closed over 2,234 transactions in the last year, placing the company as the 350th largest broker in the country in units sold, according to the Real Trends 500 survey. Nationally, Coldwell Banker out-produced every other national brand, ranking #1 for dollar volume. For nearly 15 years, Coldwell Banker Paradise has been honored annually with the Chairman’s Circle from Coldwell Banker national. The Chairman’s Circle award is the most prestigious designation a Coldwell Banker affiliated company can achieve signifying the top six percent of Coldwell Banker affiliated residential real estate brokerage companies in the world. With eleven offices from Stuart to Satellite Beach, Coldwell Banker Paradise prides itself on providing the best market analysis available to home buyers and sellers through its Quarterly Market Reports and its knowledgeable agents. To find out what your home may be worth in this market, call 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
2017
2230
524
1.4
$166,576
2016
2445
566
1.4
$149,662
Change
-8.8%
-7.4%
+1.5%
+11.0%
2017
906
480
3.2
$328,925
2016
708
385
3.3
$323,642
Change
+28.0%
+24.7%
-2.6%
+2.0%
2017
105
152
8.7
$630,634
2016
82
113
8.3
$615,126
Change
+28.0%
+34.5%
+5.0%
+3.0%
2017
14
30
12.9
$1,243,974
2016
6
19
19.0
$1,299,243
Change
+133.3%
+57.9%
-32.3%
-4.0%
2017
3255
1186
2.2
$231,367
2016
3241
1083
2.0
$201,572
Change
+0.4%
+9.5%
+9.0%
+15.0%
CONDOS Price Point Under $250,000
$250,001 to $500,000
$500,001 to $1,000,000
Total
Year
Condos Sold
Current Listings
Month’s Supply
Average Price
2017
293
113
2.3
$103,274
2016
288
89
1.9
$92,630
Change
+1.7%
+27.0%
+24.8%
+11.0%
2017
12
7
3.5
$361,458
2016
9
6
4.0
$361,822
Change
+33.3%
+16.7%
-12.5%
0.0%
2017
2
1
3.0
$556,250
2016
2
2
6.0
$581,500
Change
0.0%
-50.0%
-50.0%
-4.0%
2017
307
122
2.4
$116,316
2016
299
97
1.9
$104,002
Change
+2.7%
+25.8%
+22.5%
+12.0%
New to the Market
$549,000
708 Nicklaus Drive, Melbourne
$594,900
509 Harland Ave, Melbourne Beach
A Selection of Recently Sold Properties
$200,000
3496 Mount Carmel Lane
$178,000
4080 Alamanda Key Drive
$165,000
408 Knight Avenue