Brevard Beachside EDDM - Feb 2018

Brevard Beachside

RECENTLY SOLD

SOLD $1,175,000 754 Loggerhead Island Drive

www.FLColdwellBanker.com

SOLD $859,000

SOLD $685,000

859 Loggerhead Island Drive

499 Lighthouse Landing

SOLD $600,000

SOLD $525,000

745 Verbenia Drive

1426 Florida A1A #201

485 Cardinal Drive

SOLD $490,000

SOLD $489,000

SOLD $468,000

SOLD $615,000

417 Tortoise View Circle

436 Eagle Drive

416 Red Sail Way

Homes selling fast!

Call to see how much your home is worth!

321-222-9449 SOLD $466,000 301 Dunmore Court

SOLD $400,000 711 Palm Drive

INDIALANTIC OFFICE 232 5th Avenue Indialantic, FL 32903 321-951-3300

SATELLITE BEACH OFFICE 1550 Highway A1A Satellite Beach, FL 32937 321-222-9449

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

www.FLColdwellBanker.com

MARKET REPORT

2017 Brevard Beachside Year End Real Estate Price Point

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

Condos Sold

Current Listings

Month’s Supply

Average Price

Under

2017

455

36

.09

$185,960

599

100

2.0

$146,968

$250,000

2016

601

56

1.1

$183,069

626

123

2.4

$138,749

Change

-24.3%

-35.7%

-15.1%

2.0%

-4.3%

-18.7%

-16.7%

+6.0%

$250,001 to

2017

925

216

2.8

$357,814

347

139

4.8

$345,561

$500,000

2016

921

190

2.5

$346,939

376

146

4.7

$357,623

Change

+0.4%

+13.7%

+12.0%

+3.0%

-7.7%

-4.8%

+2.1%

-3.0%

$500,001 to

2017

259

131

6.1

$669,357

87

74

10.2

$653,841

$1,000,000

2016

229

108

5.7

$659,037

83

78

11.3

$675,061

Change

+13.1%

+21.3%

+7.0%

+2.0%

+4.8%

-5.1%

-9.7%

-3.0%

Over

2017

62

56

10.8

$1,382,599

1

7

84.0

$1,970,000

$1,000,000

2016

40

60

18.0

$1,450,662

5

8

19.2

$1,319,000

Change

+55.0%

-6.7%

-40.0%

-5.0%

-80.0%

-12.5%

+337.5%

+49.0%

2017

1701

439

3.1

$396,634

1034

320

3.7

$258,025

2016

1791

414

2.8

$356,505

1090

355

3.9

$260,503

Change

-5.0%

+6.0%

+10.7%

+11.0%

-5.1%

-9.9%

-5.1%

-1.0%

Total

Steady Sales Leads to Healthy Beachside Market If your dream was to buy an affordable home beachside in Brevard, sorry to say it but gone are the days when the Brevard Beachside housing market was the best kept secret on the Space and Treasure Coast. Inventory under $250K is scarce and when it is available it flies off the shelf, being on the market less than 3-4 weeks. If you find a property under $250k that you like, offer high and cross your fingers that you don’t get outbid. Cash is king especially as we are finding appropriate appraisals can be tough when securing a loan.

However the market above $500k is very stable. While homes in this segment are also selling briskly there’s a comfortable balance in negotiating power between buyers and sellers. With inventory just over 6 months, we are likely to see prices continuing to stay stable. While overall prices increased for beachside single family

homes, the 11% increase had more to do with a high number of units sold at the higher price point over $1mil rather than an overall price appreciation. 2018 should see similar, modest overall growth in prices with an expected increase of 4-6%, however, with similar sales for higher priced units expected, the average price increases will continue to be artificially inflated in the double digit range. Pricing a home correctly remains one of the determining factors on if your Beachside home will sell quickly. Call your favorite Coldwell Banker Paradise agent for your free home evaluation today. Or call our offices at 321-951-3300 or in Satellite Beach at 321-222-9449. 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.