2016 Brevard County Mainland 1st Quarter Real Estate
MARKET REPORT
NEW OFFICE!
SATELLITE BEACH 1550 HWY A1A, Satellite Beach 321.222.9449
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 County Mainland Comparison 2016 to 2015 Healthy Growth Fuels Housing Market
Sellers with Homes under $500,000 are Uniquely Positioned to Take Advantage of Tight Inventory
Prices on single family homes in Brevard County continue a steady rise, up 14.7% for the first quarter of 2016, reports Coldwell Banker Paradise, in their just released First Quarter Market Report for 2016. “Sellers with houses under $500,000 are uniquely positioned to take advantage of low inventory,” said Grace Drapeau, sales manager for our Brevard County offices. Inventory continues to tighten, with a singular increase in single family homes priced $250,001 to $500,000 up +22.2%. “The increase in inventory at this price point can most likely be attributed to new construction, a segment that is experiencing its own recovery at this time,” added Drapeau.
-0.3%. “It’s becoming tougher and tougher to be a buyer,” said Drapeau, “You really need a savvy realtor on your side. We have almost 80 agents working in the Brevard market, with an office in Indialantic and a brand new office in Satellite Beach to serve our buyers and sellers. Plus for those buyers who are interested in looking cross market, we have 10 offices covering over 100 miles up and down the Space and Treasure Coast.”
As for both single family homes and mainland condos in Brevard County, with slow but steady increases across the board, it is fair to say that owners are continuing to regain “Across the Space and Treasure Coast, when compared to other equity. Many homeowners have no idea how much their markets, Brevard is showing the healthiest growth,” said Steven property has actually increased in value over recent years Schlitt, co-owner and Broker for Coldwell Banker Paradise. “The and would be well served to seek out the professional counsel Space Coast is experiencing a healthy economic of an experienced real estate agent. We have boom with jobs added by companies such as neighborhood real estate specialists on call “While some markets have to serve you, who take into account all of the Grumman Corp. who added over 3,000 jobs, Embraer adding over 1,000 jobs and NASA begun to cool, Brevard valuable assets to arrive at the ideal price. Our adding over 2,000 positions all with salaries agents make sure that your home is priced to remains hot.” starting at over $70,000 per year,” stated Schlitt. sell quickly and for fair market value! We know “With the influx of those new families, if any that prices vary widely on the Space Coast home owner has thought they might consider and it takes someone with experience to look selling, now would be the time to talk to one of our experienced real at the sales history for an area, know the state of the market estate professionals,” added Schlitt. and interpret all of that for a homeowner. You can reach our Indialantic Office at at 321-951-3300 or our new Satellite Both Mainland Single Family Homes and Mainland Condos Beach Office at 321-222-9449. have seen a slight decrease in inventory, with sales in condos being down -1.5% and sales for single family homes being down a modest
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
2016
1071
647
1.8
$143,125
2015
1156
803
2.1
$129,156
Change
-7.4%
-19.4%
-13.7%
+10.8%
2016
269
418
4.7
$324,055
2015
196
342
5.2
$318,772
Change
+37.2%
+22.2%
-10.4%
+1.7%
2016
33
117
10.6
$611,033
2015
26
122
14.1
$649,104
Change
+26.9%
-4.1%
-24.6%
-5.9%
2016
2
17
25.5
$1,085,000
2015
1
19
57.0
$1,166,800
Change
100%
-10.5%
-55.3%
-7.0%
2016
1375
1199
2.6
$191,121
2015
1379
1286
2.8
$166,662
Change
-0.3%
-6.8%
-6.6%
+14.7%
Price Point
CONDOS
Year
Condos Sold
Current Listings
Month’s Supply
Average Price
2016
128
87
2.0
$85,659
2015
125
108
2.6
$83,497
Change
+2.4%
-19.4%
-21.6%
+2.6%
2016
4
21
15.8
$366,375
2015
8
28
10.5
$349,188
Change
-50.0%
-25.0%
+50.0%
+4.9%
2016
0
3
NA
NA
2015
1
6
18.0
$809,000
Change
-100.0%
-50.0%
NA
-100.0%
2016
0
1
0
$0
2015
0
1
0
$0
Change
0.0%
0.0%
NA
0.0%
2016
132
112
2.5
$94,165
2015
134
143
3.2
$104,774
Change
-1.5%
-21.7%
-20.5%
-10.1%
Under $250,000
$250,001 to $500,000
$500,001 to $1,000,000
Over $1,000,000
Total
E XC LU SI V E LY P R E SE N T I N G :
GRANT VALKARIA $515,000
ROCKLEDGE $420,000
ROCKLEDGE $309,000
“With the influx of those new families, if any home owner has thought they might consider selling, now would be the time to talk to one of our savvy real estate professionals.”
GRANT VALKARIA $399,000
PALM BAY $259,950
PALM BAY $209,000
w w w. f l c o l d w e l l b a n k e r . c o m
COME VISIT OUR NEW SATELLITE BEACH OFFICE 1550 Florida A1A Satellite Beach, FL 32937 Office Phone: (321) 222-9449
A SELECTION OF RECENT SOLDS:
MELBOURNE
6100 Foulet Ct $537,500
Melbourne 2802 Englewood Dr $285,000
C O L D W E L L
MELBOURNE 4799 Chastain Dr $370,000
Palm Bay 244 SE Grouper Cir $272,000
B A N K E R
SATELLITE BEACH
INDIALANTIC
321-222-9449
321-951-3300
SEBASTIAN MAINLAND
772-589-7777
Melbourne 4128 Palladian Way $254,900
P A R A D I S E VERO BEACH ISLAND 772-231-4880