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