Space Coast housing sales are up, with median prices up 16 percent year-over-year

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Single-family home sales up 39.2% in May 2021

Florida’s Space Coast housing market continued to report more closed sales, higher average prices, more new listings, and an increase in unfinished stocks compared to last year.

BREWARD, FLORIDA – The Florida space coast housing market continued to report more closed sales, higher average prices, more new listings, and an increase in unfinished stocks compared to last year.

Note that the comparative data for May 2020 this month reflects the state isolation and economic uncertainty that occurred last spring during the coronavirus pandemic.

“The Brevard housing market continued to show very strong growth in all categories compared to this period last year,” says Jennifer McCoy of McCoy Freeman Real Estate.

“I continue to place many out-of-state buyers at their new Florida home, and most of these buyers pay all in cash,” McCoy says.

In fact, 276 buyers paid all cash, up from 123 buyers this time last year for single-family homes, up 124.4% in Brevard.

Closed single-family home sales statewide were 30,985 in May, up 57.9% year-over-year, while sales of existing condo townhouses were 15,491, up 155.2%. than in May 2020. Closed sales can take 30 to 90+ days. after sales contracts are written.

According to Freddie Mac, the interest rate on 30-year fixed-rate mortgages averaged 2.96% in May 2021, lower than the 3.23% average in the same month a year earlier.

May 2021 Brevard County Single Family Report Summary

Closed sales were up + 39.2% in May 2021, in which the number of closed units was 997, up from 716 in May 2020, with a + 124.4% increase in cash sales.

■ Closed sales increased + 39.2% in May 2021, in which the number of closed units was 997 compared to 716 in May 2020, with a + 124.4% increase in cash sales.

■ New pending sales were down -7.6%, while new listings were down -2.1%.

■ The median selling price of Brevard single-family homes rose 16.0% to $ 290,000 from $ 250,000 a year earlier.

■ Inventories in months decreased by -70.4% to 0.8 months, compared to 2.7 months in May 2020.

■ Traditional sales grew 42.0% at an average price of US $ 290,000.

■ Foreclosures / REO Sales were down -81.3% on 3 closed sales and an average price of $ 212,000.

■ Closing short sales unchanged: 0 closed sales in May 2021 and 0 closed sales in May 2020.

May 2021 Brevard County Townhouse and Condominium Report Summary

Closed sales were up + 70.7% in May 2021, in which the number of closed units was 285, up from 167 in May 2020, with a + 93.2% increase in cash sales.

■ Closed sales increased + 70.7% in May 2021, in which the number of closed units was 285 compared to 167 in May 2020, with a + 93.2% increase in cash sales.

■ New pending sales were up 27.2%, while new listings were down -7.0%.

■ The median selling price of townhouses and condominiums rose 36.9% to $ 230,000 from $ 168,000 last year.

■ Inventories in months decreased by -71.4% to 1.0 months in May 2021 from 3.5 months in May 2020.

■ Traditional sales grew 73.2% at an average price of $ 230,000.

■ Foreclosures / REO Sales were down 66.7% on 1 closed sale and an average selling price of $ 163,000.

■ Closing short sales unchanged: 0 closed sales in May 2021 and 0 closed sales in May 2020.

ABOUT THE AUTHOR

Freeman, Jennifer McCoy and Nikki McCoy-Freeman are the family owners of the McCoy-Freeman Real Estate Group on Florida’s 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 among the top 1% of Florida Realtors.

A lifelong resident of Brevard County, Bobby Freeman has been a leading real estate agent in the area for over two decades. In his first year as an agent, Freeman received the Rising Star Award from his brokers. Since then, he has received numerous sales awards from the world’s largest real estate firms.

Freeman, Jennifer McCoy and Nikki McCoy-Freeman are the family owners of the McCoy-Freeman real estate group on Florida’s 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 among the top 1% of Florida Realtors.

The McCoy-Freeman Group’s accomplishments include Certified Luxury Homes Marketing Specialist (CLHMS), Certified Distressed Property Experts (CDPE), Accredited Buyer Representative (ABR), and Best Realtor in Brevard County. The group has been featured in many news outlets 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 in BrevardRealtyConnection.com

TO VIEW THE LIST OF CONDOs, LOG IN CocoaBeachCondoGallery.com

CLICK HERE FOR NEWS GRAPHI BREWARD



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