Brevard County Mainland Year End 2015 Market Report

2015 Brevard County Mainland Year End Real Estate

M A R K E T R E P O RT

NEW

CE!

OFFI

SATELLITE BEACH 1550 HWY A1A, Satellite Beach 321.951.3300

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 Year End Comparison 2015 to 2014 Tightening Inventory results in Price Appreciation for Brevard Housing Market Prices on single family homes in Brevard County continue to rise, at all levels of the market, reports Coldwell Banker Paradise in their just released Year End Market Report for 2015, resulting in an overall price gain of 17%. With healthy demands for single family homes across the price spectrum, market conditions bode well for steady sales and price increases for 2016. “This next year will see good results for Brevard County,” stated Coldwell Banker Paradise Coowner and Broker Linda Schlitt Gonzalez. With a steady resurgence in job growth, properties on the mainland in Brevard County, “are especially poised for price appreciation. We haven’t yet seen the top of this market.”

In general, 2015 was a healthy year for the 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.

On the other hand, with only a 1.3 months supply for those single family homes priced under $250K in Brevard County, those

homeowners who were waiting to see if the market would recover, congratulations are in order. With a lack of available homes, now is precisely the right time for homeowners to explore just what their house 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 from Jensen Beach to Satellite Beach. 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. 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 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

5059

713

1.7

$136,915

2014

5136

1297

3.0

$121,251

Change

-1.5%

-45.0%

-44.2%

+12.9%

2015

1089

408

4.5

$324,991

2014

804

368

5.5

$323,846

Change

+35.4%

+10.9%

-18.1%

+0.4%

2015

148

132

10.7

$640,946

2014

77

126

19.6

$611,656

Change

+92.2%

+4.8%

-45.5%

+4.8%

2015

5

15

36

$1,216,760

2014

9

17

22.7

$1,123,778

Change

-44.4%

-11.8%

+58.8%

+8.3%

2015

6301

1268

2.4

$182,116

2014

6026

1808

3.6

$156,045

Change

+4.6%

-29.9%

-32.9%

+16.7%

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

527

83

1.9

$83,359

2014

544

141

3.1

$70,506

Change

-3.1%

-41.1%

-39%

+18.2%

2015

37

23

7.5

$336,775

2014

24

30

15.0

$330,848

Change

54.2%

-23.3%

-50%

+1.8%

2015

5

6

14.4

$667,600

2014

5

2

4.8

$587,300

Change

0.0%

+200%

+300%

+13.7%

2015

0

0

0

$0

2014

0

1

0

$0

Change

0.0%

0%

0.0%

0.0%

2015

569

112

2.4

$104,971

2014

573

174

3.6

$85,920

Change

-0.7%

-35.6%

-34.0%

+22.2%

E X C L U S I V E LY P R E S E N T I N G : With a lack of available homes, now is precisely the right time for homeowners to explore just what their house might be worth.

ROCKLEDGE $749,000 AS SEEN ON COVER.

MELBOURNE $789,000

MELBOURNE $859,000

PALM BAY $289,000

PALM BAY $276,000

MALABAR $270,000

W. MELBOURNE $234,000

www.flcoldwellbanker.com

PRST STD ECRWSS U.S. POSTAGE

PAID

STUART, FL PERMIT NO. 274

RESIDENTIAL CUSTOMER

A SELECTION OF RECENT SOLDS:

Rockledge 5218 Wexford Drive $293,000

Melbourne 750 Russo Drive $193,500

Palm Bay 167 Se Ridgemont Circle $259,000

Palm Bay 2559 NE Kumquat St $190,000

Palm Bay 2039 NE Bradway $130,000

THE RIGHT REPRESENTATION MAKES ALL THE DIFFERENCE Coldwell Banker Paradise is the largest real estate brokerage firm in the area, with 10 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

B A N K E R

SATELLITE BEACH

INDIALANTIC

321-951-3300

321-951-3300

SEBASTIAN MAINLAND

772-589-7777

P A R A D I S E

VERO BEACH ISLAND 772-231-4880