Brevard Mainland 2nd Quarter Market Report 2017

2017 Brevard Mainland Mid-Year Real Estate

MARKET REPORT $999,000

2799 Wyndham Way Offered by Paul Frommann

SATELLITE BEACH

1550 FLORIDA A1A 321-222-9449

INDIALANTIC

232 FIFTH AVE 321-951-3300

SEBASTIAN

1209 US-1 772-589-7777

Brevard Mainland Mid-Year Comparison 2017 to 2016 Appreciation Leads to Increases in Mainland Inventory With double digit increases in current listings, the Brevard County housing market continues at a strong pace, reports Coldwell Banker Paradise in their recently released MidYear Housing Report.

Many homeowners, especially at the over $250K price point, have recovered enough equity to start exploring their options. This has led to an increase of sales at this level. The combination of new home buyers, job relocators and buyers coming from outside the area has left inventory levels low at only 2.2 months. This tightening of inventory has led to a 15% average price increase overall. “Buyers are quick to realize that they can get more for their money in Melbourne, West Melbourne and Palm Bay than in other cities,” stated Coldwell Banker Paradise Co-Owner and Broker Linda Schlitt Gonzalez.

Condominium also saw significant listing activity. “With interest rates likely to rise, now would be advisable for buyers to jump in,” added Gonzalez.

The leader in full service local real estate, Coldwell Banker Paradise agents closed over 2,234 transactions in the last year, placing the company as the 350th largest broker in the country in units sold, according to the Real Trends 500 survey. Nationally, Coldwell Banker out-produced every other national brand, ranking #1 for dollar volume.

For nearly 15 years, Coldwell Banker Paradise has been honored annually with the Chairman’s Circle from Coldwell Banker national. The Chairman’s Circle award is the most prestigious designation a Coldwell Banker affiliated company can achieve signifying the top six percent of Coldwell Banker affiliated residential real estate brokerage companies in the world.

With eleven offices from Stuart to Satellite Beach, Coldwell Banker Paradise prides itself on providing the best market analysis available to home buyers and sellers through its Quarterly Market Reports and its knowledgeable agents.

To find out what your home may be worth in this market, call our Indialantic office at 321-951-3300 or our Satellite Beach office at 321-222-9449.

SINGLE FAMILY HOMES Price Point Under $250,000

$250,001 to $500,000

$500,001 to $1,000,000

Over $1,000,000

Total

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

2017

2230

524

1.4

$166,576

2016

2445

566

1.4

$149,662

Change

-8.8%

-7.4%

+1.5%

+11.0%

2017

906

480

3.2

$328,925

2016

708

385

3.3

$323,642

Change

+28.0%

+24.7%

-2.6%

+2.0%

2017

105

152

8.7

$630,634

2016

82

113

8.3

$615,126

Change

+28.0%

+34.5%

+5.0%

+3.0%

2017

14

30

12.9

$1,243,974

2016

6

19

19.0

$1,299,243

Change

+133.3%

+57.9%

-32.3%

-4.0%

2017

3255

1186

2.2

$231,367

2016

3241

1083

2.0

$201,572

Change

+0.4%

+9.5%

+9.0%

+15.0%

CONDOS Price Point Under $250,000

$250,001 to $500,000

$500,001 to $1,000,000

Total

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2017

293

113

2.3

$103,274

2016

288

89

1.9

$92,630

Change

+1.7%

+27.0%

+24.8%

+11.0%

2017

12

7

3.5

$361,458

2016

9

6

4.0

$361,822

Change

+33.3%

+16.7%

-12.5%

0.0%

2017

2

1

3.0

$556,250

2016

2

2

6.0

$581,500

Change

0.0%

-50.0%

-50.0%

-4.0%

2017

307

122

2.4

$116,316

2016

299

97

1.9

$104,002

Change

+2.7%

+25.8%

+22.5%

+12.0%

New to the Market

$549,000

708 Nicklaus Drive, Melbourne

$594,900

509 Harland Ave, Melbourne Beach

A Selection of Recently Sold Properties

$200,000

3496 Mount Carmel Lane

$178,000

4080 Alamanda Key Drive

$165,000

408 Knight Avenue