Space Coast housing market sales increase, median sale price rise 16% from last year

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single-family home Sales are up 39.2% for May 2021

The Florida space coast real estate market continued to see more closed sales, higher median prices, more new listings and an increase in pending inventory compared to last year.

BREVARD COUNTY, FLORIDA – The Florida real estate market on the Space Coast continued to see more closed sales, higher median prices, more new listings and an increase in pending inventory compared to last year .

Note that this month’s May 2020 comparison data reflects the state lockdown and economic uncertainty that occurred last spring during the coronavirus pandemic.

“The Brevard housing market continued to post very strong gains in all categories compared to the same period last year,” said Jennifer McCoy of McCoy Freeman Real Estate.

“I continue to place many out-of-state buyers in their new Florida homes and most of those buyers pay everything in cash,” McCoy said.

In fact, 276 buyers paid cash compared to 123 buyers at the same time last year for single-family homes, an increase of 124.4% in Brevard.

Closed sales of single-family homes statewide in May totaled 30,985, up 57.9% year-over-year, while sales of existing townhouse condominiums totaled 15,491, up 155.2% from May 2020. Closed sales can take place from 30 to 90 days or more. after-sales contracts are drawn up.

According to Freddie Mac, the interest rate on a 30-year fixed-rate mortgage was on average 2.96% in May 2021, down from the average of 3.23% in the same month a year more early.

Brevard County One Family Report Summary for May 2021

Closed Sales are up + 39.2% for May 2021 where the number of closed units was 997 against 716 in May 2020, with an increase in cash sales of + 124.4%.

■ Closed Sales are up + 39.2% for the month of May 2021, where the number of closed units was 997 compared to 716 in May 2020, with an increase in cash sales of + 124.4%.

■ Pending new sales are down -7.6% and new listings are down -2.1%.

■ The median selling price of Brevard single-family homes is up + 16.0% to $ 290,000 from a year ago, which was $ 250,000.

■ Months Inventory supply was down -70.4% to 0.8 months, down from 2.7 months in May 2020.

■ Traditional sales are up + 42.0%, with a median selling price of $ 290,000.

■ Foreclosure / REO Sales are down -81.3%, with 3 closed sales and a median selling price of $ 212,000.

■ Short Sales Closing is unchanged with 0 sales closed in May 2021 and 0 sales closed in May 2020.

Brevard County Townhouse and Condo Report Summary for May 2021

Closed Sales are up + 70.7% for May 2021 where the number of closed units was 285 compared to 167 in May 2020, with an increase in cash sales of + 93.2%.

■ Closed Sales are up + 70.7% for the month of May 2021, where the number of closed units was 285 compared to 167 in May 2020, with an increase in cash sales of + 93.2%.

■ New pending sales are up + 27.2% and new listings are down -7.0%.

■ The median selling price of townhouses and condos is up + 36.9% to $ 230,000 from a year ago, which was $ 168,000.

■ Months Inventory supply was down -71.4% to 1.0 month in May 2021 compared to 3.5 months in May 2020.

■ Traditional sales are up + 73.2%, with a median selling price of $ 230,000.

■ Foreclosure / REO Sales are down -66.7%, with 1 closed sale and a median sale price of $ 163,000.

■ Short Sales Closing is unchanged with 0 sales closed in May 2021 and 0 sales closed in May 2020.

ABOUT THE AUTHOR

Freeman, Jennifer McCoy and Nikki McCoy-Freeman are family owners of the McCoy-Freeman real estate group on Florida’s Space Coast. Together, they have over 40 years of in-depth 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.

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. Since then, it has won numerous auction awards from some of the largest real estate companies in the world.

Freeman, Jennifer McCoy and Nikki McCoy-Freeman are family owners of the McCoy-Freeman real estate group on Florida’s Space Coast. Together, they have over 40 years of in-depth 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 Property Experts (CDPE), Accredited Buyer’s Representative (ABR) and County’s Top Real Estate Agent. by Brevard. The group has been featured in numerous news publications including CNN Money Magazine, CNNMoney.com, WFTV 9 News, News 13, WKMG News 6, Coastal Condo Living Magazine, Hot Retirement Towns Magazine and SpaceCoastDaily.com.

For more information log on to BrevardRealtyConnection.com

TO SEE THE CONDO LISTS, LOG IN TO CocoaBeachCondoGallery.com

CLICK HERE FOR BREVARD COUNTY NEWS



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