Sales of townhouses / closed condos are up 87.1%
BREVARD COUNTY, FLORIDA – The Brevard housing market remained strong in April, with more closed sales, higher median prices, more new pending sales, and an increase in pending inventory compared to there was a year.
However, note that April data is compared to April 2020 – and the first statewide lockdown due to COVID-19 went into effect on April 1, 2020.
âThe Space Coast real estate market continues to exhibit rapid market conditions. Record inventory and increased buyer demand are driving up selling prices, âsaid Jennifer Mccoy of McCoy Freeman Real Estate, which serves the entire Florida Space Coast.
âHopefully more sellers will list their homes now that the pandemic is abating,â McCoy says.
Closed sales of single-family homes in Brevard in April totaled 1,099, up 43.3% year over year, while sales of existing condos and townhouses totaled 348, up 87 , 1% compared to April 2020.
According to Freddie Mac, the interest rate on a 30-year fixed-rate mortgage was on average 3.06% in April 2021, significantly lower than the 3.31% average for the same month a year earlier.
Brevard County Residential Report Summary for April 2021:
â Closed sales are up + 43.3% for April 2021 when the number of closed units was 1,099 compared to 767 in April 2020, with cash sales growth of + 186.4%.
â New pending sales are up + 57.4% and new listings are up + 31.9%.
â The median selling price of Brevard single-family homes is up 13.6% to $ 289,801 from a year ago, which was $ 255,000.
â Months Inventory supply was down -69.0% to 0.9 months, compared to 2.9 months in April 2020.
â Traditional sales are up + 43.0%, with a median selling price of $ 289,950.
â Foreclosure / REO sales are up + 33.3%, with 8 closed sales and a median selling price of $ 288,500.
â Short sell closings are up + 300.0% with 4 closed sales and a median selling price of $ 159,750.
Brevard County Townhouse / Condo Recap for April 2021:
â Closed sales are up + 87.1% for April 2021 when the number of closed units was 348 compared to 186 in April 2020, with an increase in cash sales of + 150.0%.
â New pending sales are up + 93.7% and new listings are up + 56.2%.
â The median sale price of townhouses / condos is up + 18.3% to $ 254,389 from a year ago, which was $ 214,950.
â Months Inventory supply was down -65.7% to 1.2 months in April 2021 compared to 3.5 months in April 2020.
â Traditional sales are up + 89.1%, with a median selling price of $ 254,389.
â Foreclosure / REO sales are down -33.3%, with 2 closed sales and a median sale price of $ 275,500.
â Short sales closings are unchanged with 0 closed sales in April 2021 and 0 closed sales in April 2020.
ABOUT THE AUTHOR
Bobby Freeman, a life resident of Brevard County, has been one of the area’s top real estate agents for over two decades. During his first year as an agent, Freeman received a Rising Star award from his brokers. It has since won numerous auction awards from some of the world’s largest real estate companies.
Freeman, Jennifer McCoy and Nikki McCoy-Freeman are the family owners of the McCoy-Freeman real estate group on the Florida Space Coast. Together, they have over 40 years of extensive experience in all aspects of the real estate industry, have sold over $ 420 million, and are ranked in the top 1% of all Florida real estate agents.
Some of the McCoy-Freeman Group’s accomplishments include Certified Luxury Home Marketing Specialist (CLHMS), Certified Distressed Properties Experts (CDPE), Accredited Buyers’ Representative (ABR) and voted Best Real Estate Agent in County of Brevard. The group has been featured in numerous publications such as CNN Money Magazine, CNNMoney.com, WFTV 9 News, News 13, WKMG News 6, Coastal Condo Living Magazine, Hot Retirement Towns Magazine and SpaceCoastDaily.com.
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