2015 Brevard County Mainland Third Quarter Market Report

2015 Brevard County Mainland Third Quarter Real Estate

M A R K E T R E P O RT

MELBOURNE

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 3rd-Quarter Comparison 2015 to 2014 Steady Sales, Decreasing Inventory Drives Prices Up in Brevard Housing Prices on single family homes in Brevard County continue to rise, The conditions are favorable for homeowners who want to at all levels of the market, reports Coldwell Banker Paradise in time the market just right,” added Schlitt. their just released 3rd Quarter Market Report for 2015. The $500k As for condominiums, the market is moving consistently market saw the highest growth in sales, with sales up nearly 85% upwards, with average prices increasing 26.1% and inventory over this time last year. Co-Owner and Broker Steven Schlitt levels down almost 36% on average. Sales of Brevard County reports, “the good news is that sellers can be confident that they condos follow the trend all along the Space and Treasure have regained essential equity. If a homeowner hasn’t looked into Coast of a shortage of inventory resulting in a slight decrease how much their house or condo might be worth, now is the time,” in sales. “If ever there was a time to buy a condo, it is now, added Schlitt. The inventory of single family homes priced under with continued appreciation sure to come in the next $250K is the lowest with only a 1.5 months,” stated Schlitt. months supply. “This is typical of what Prices on single As a market leader, with cutting edge tools, and we are seeing across the Space and information available to them, Coldwell Banker family homes in Treasure Coast, a steep decline in the Paradise agents are able to offer customized market inventory of homes priced at the lower Brevard county analysis to their clients, on a one-on-one basis. end of the market,” reported Schlitt. nine offices from Jensen to Cocoa Beach and an continue to rise at all With A lowering of inventory often results agent base of 260, Coldwell Banker Paradise prides in an increase in prices, and in fact, levels of the market itself on providing the best market analysis available average prices for single family homes to home buyers and sellers through its Quarterly in Brevard County increased across the Market Reports and it’s knowledgeable agents. “Our spectrum, resulting in an overall price gain of 15.5%. With inventory agents are the experts, they are in the neighborhoods, seeing levels the 2nd tightest along the East Central 1-95 corridor, sellers what is selling and why. Want to know what is happening in throughout Brevard County are uniquely positioned to benefit from your neighborhood, as compared to your surrounding county a thirst for quality, affordable investment opportunities. However, if and the region? Ask our agents today,” urged Schlitt.You can inventory levels continue to drop, sales “are likely to slow as well. 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

3976

663

1.5

$135,434

2014

3893

1384

3.2

$120,557

Change

+2.1%

-52.1%

-53.1%

+12.3%

2015

846

390

4.1

$324,406

2014

625

357

5.1

$321,941

Change

+35.4%

+9.2%

-19.3%

+0.8%

2015

105

122

10.5

$640,724

2014

57

138

21.8

$606,899

Change

+84.2%

-11.6%

-52.0%

5.6%

2015

5

18

32.4

$1,216,780

2014

7

17

21.9

$1,098,429

Change

-28.6%

+5.9%

48.2%

+10.8%

2015

4932

1193

2.2

$179,703

2014

4582

1896

3.7

$155,570

Change

+7.6%

-37.1%

-41.5%

+15.5%

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

404

79

1.8

$82,116

2014

424

142

3.0

$69,546

Change

-4.7%

-44.4%

-41.6%

+18.1%

2015

32

25

7.0

$332,381

2014

19

29

13.7

$329,782

Change

+68.4%

-13.8%

-48.8%

+0.8%

2015

4

8

18

$684,500

2014

3

3

9.0

$557,167

Change

+33.3%

+166.7%

100%

+22.9%

2015

0

0

0

$0

2014

0

0

0

$0

Change

0%

0%

0%

0%

2015

440

112

2.3

$105,793

2014

446

174

3.5

$83,912

Change

-1.3%

-35.6%

-34.8%

+26.1%

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 homes now averaging $174K,that could mean your house could be worth $17,400 more than that website you just visited estimated. When was the last time you walked away from $17K? 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 321-951-3300.

E X C L U S I V E LY P R E S E N T I N G :

MELBOURNE -$859,000 A Jewel Waterfront home with breathtaking view of the cove.

MELBOURNE -$312,000 One of the larger SF homes in Heritage Isle, beautifully deocrated and move in ready

MELBOURNE -$259,000 Meticulous and move in ready 4 BR home in Ocean Side Village.

PALM BAY -$216,000 Desirable 3/2 home in quaint neighborhood near Turkey Creek that’s beautifully landsaped and is move in ready

flcoldwellbanker.com

PRSRT SSTD ECRWSS U.S. POSTAGE PAID EDDMRETAIL

A SELECTION OF RECENT SOLDS:

Melbourne 697 Nicklaus Drive $465,000

Cocoa 15 N Indian River Drive #504 Circle $327,500

Melbourne 2289 Myla Lane $160,000

Rockledge 1204 Apple Creek Lane $160,000

THE RIGHT REPRESENTATION MAKES ALL THE DIFFERENCE Coldwell Banker Paradise is the largest real estate brokerage firm in the area, with 9 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

INDIALANTIC BREVARD 321-951-3300

B A N K E R SEBASTIAN MAINLAND

772-589-7777

P A R A D I S E

VERO BEACH ISLAND

VERO BEACH MAINLAND

772-231-4880

772-778-2029