2018 Sebastian Mid-Year Market Report

Sebastian Mid-Year Market Report

RECENTLY SOLD

SOLD $675,000

SOLD $372,500

5315 S. US Highway 1

615 Mallow Scrub Way

SOLD $265,500

SOLD $310,000

381 Joy Haven Drive

474 Lanfair Avenue

SOLD $240,000

SOLD $219,150

110 Amherst Lane

511 Concha Drive

www.FLColdwellBanker.com

SOLD $308,000

648 Brush Foot Drive

SOLD $290,000

6265 N Mirror Lake Drive

SOLD $209,000

973 Gardenia Street

Homes are selling fast!

Call to see how much your home is worth!

772-589-7777 SOLD $182,000 738 George Street

SOLD $175,000

1512 Clearbrook Street

SEBASTIAN OFFICE 1209 US-1 Sebastian, FL 32958 772-589-7777

www.FLColdwellBanker.com

MARKET REPORT

2018 Sebastian Mid-Year Price Point

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

Under

2018

10

2

1.2

$77,730

$100,000

2017

18

1

0.3

$73,438

Change

-44.4%

100%

300%

+6.0%

$100,000 to

2018

291

94

1.9

$190,314

$250,000

2017

323

100

1.9

$185,218

Change

-9.9%

-6.0%

+4.3%

+3.0%

$250,000-

2018

100

86

5.2

$303,349

$500,000

2017

77

47

3.7

$293,761

Change

+29.9%

+83%

+40.9%

+3.0%

2018

8

21

15.8

$642,500

Over $500,000 Total

2017

5

20

24.0

$885,500

Change

+60.0%

+5.0%

-34.2%

-27.0%

2018

409

203

3.0

$224,042.97

2017

423

168

2.4

$208,497.39

Change

-3.3%

+20.8%

+25%

+7.0%

The housing market in Sebastian, while increasing in price by 7%, is still a very affordable community for growing families and those looking to purchase their own piece of paradise. Buyers love Sebastian for its friendly small town feeling and great community values. While the average home price is still only $224,042, buyers that used to be able to find homes under $200K are having a harder time with sales down 11% under $100k and 6.3% under $250k.

Equity and value are driving factors in the Sebastian housing market with the biggest movement in overall sales, inventory, and price in the $250k-$500k market segment. Sellers are regaining enough equity to make it attractive to think about upsizing to luxury waterfront or downsizing to fit their new life needs. Sellers trying to price too aggressively at

the higher end of the market (over $500k) might want to be cautious due to a slight price adjustment of -5.0%.

So the mixed message is, buyers in the lower end market need to act quickly and bid aggressively or risk missing out.

In the mid and upper end markets, there is a selection for buyers, and while prices are slowly increasing, sellers need to look closely at the competition and price their homes appropriately.

If you would like to find the right price for your home in today’s changing market, contact us at 772-589-7777. With eleven offices covering 135 miles of Florida’s East Coast, Coldwell Banker Paradise is the largest full service real estate company in the area.