Brevard County Real Estate Market Update – First Quarter 2018

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Brevard County Real Estate Market Update – First Quarter 2018

Category : Market Updates

Hi everyone, Don Norris here with Norris Real Estate. We are right here on Satellite Beach. While the rest of the country, especially in the deep south, is preparing for a hard freeze, and even some snow accumulations, in Texas, and Alabama, and Mississippi, we’re here on the beautiful beach. Now, mind you, for Florida standards, I’m freezing, it’s like in the 60s, but still not too shabby. This is a great, great place to live.

Just real quick, wanted to update everybody on what the market’s doing here in Central Florida.. Right now, the closed properties are up 5.2% near Brevard County at 752 total units. Pending sales right now is up again at 14.2%. New listings here in Brevard County are on a rise at 1.6% over this same time last year. The median price for a home here in Brevard County is up 15.3%, at an average price of $218,000. This time last year, average home sales price was $189,000, so we are still on the rise as far as home prices are good to go.

Inventory right now is up, which is a great thing, up 12%, we’re at 2.8 months of inventory. Again, what that means for you the consumer is that right now if everything here in Brevard County sold in 2.8 months, everything would be sold. Average market is six to seven months of inventory, we’re still at 2.8, which means we’re still in a deep, deep sellers market. A lot of people wanting to buy a home, not very many homes to purchase. We have very low inventory, and the prices are continuing to rise.

For condominiums, here along the coast, the coast sales are down 3.9% at a 195 units. Pending sales are up 2.3%, and new listings are actually down 4.5%, so it’s a little bit different than the housing market, it’s almost the opposite. Median price for a condominium here in Brevard County is sitting at a 160,000, this same time last year, it was 142,000. We’re up just a little bit, but not  as much as with the housing market. The inventory for condominiums sitting at 5.6 months. This time last year it was at 3.4 months. Our inventory is climbing for condominiums as opposed, the water is getting close to me, as opposed to the housing market.

It’s still a great, great time to invest in real estate here in Brevard County. Prices are still on the rise, but it’s a great, great time buy, because those prices are continuing to rise. You give me a call, I can find you some great, great deals. It’s what we do, we grew up here, we live here, Natalie and I, this is just what we do. We love helping people find properties. If you’re owning a property, and you’re thinking about selling, this is the primetime to sell that property, get a great, great price for it, turn a great profit.

Any questions we’d love to help you all out with any of your real estate questions or needs. You can just reach out to us on Facebook, or give me call at 321-759-3857, that’s my cell phone, always have it with me. I will always return your texts, or your phone calls. Love to hear from you. Hope you guys are having a great day, and we’re looking forward to spring already. Take care.

About Author

Don Norris

Don & Natalie Norris were raised in Central Florida on Merritt Island. After Don moved off to college and then traveling and living both around the United States and abroad, he moved back to Merritt Island to marry his best friend and business partner Natalie. Natalie, after graduating Merritt Island High school with Don, stayed on the Island after going to college in Lakeland, Fl. and California. Together, Don and Natalie have raised their six children on Merritt Island. They enjoy relaxing afternoons on the beach, kayaking around the Thousand Islands of Cocoa Beach and the Indian River. Brevard County is in their blood, but enjoy traveling around the United States and abroad as well. Norris Real Estate allows Don and Natalie to engage their customer base on a personal level by not just assisting selling or buying homes, but by providing a trusting and competent hand in the selling and buying process that creates a bond, relationship and appreciation with their customers. As a team, Don and Natalie Norris have all of the tools they have acquired and cultured over the past 20 years to give their clients the absolute best customer experience in the selling of their home or buying their dream home.

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