Brevard Beachside 1st Quarter Market Report - 2018

Brevard Beachside

RECENTLY SOLD

www.FLColdwellBanker.com

SOLD $950,000

SOLD $549,900

847 Malibu Lane

400 Riverside Drive

2875 N Hwy A1a #203

SOLD $524,000

SOLD $480,800

SOLD $480,000

210 Ivory Drive

323 Banyan Way

SOLD $460,000

SOLD $440,000

SOLD $1,200,000

207 Ivory Drive

SOLD $470,000 302 Sanibel Way

581 Hwy A1a #302

472 Cardinal Drive

Homes selling fast!

Call to see how much your home is worth!

321-222-9449 SOLD $389,900 210 Lynn Avenue

SOLD $385,000 607 Hibiscus Trail

INDIALANTIC OFFICE 232 5th Avenue Indialantic, FL 32903 321-951-3300

SATELLITE BEACH OFFICE 1550 Highway A1A Satellite Beach, FL 32937 321-222-9449

SEBASTIAN OFFICE 1209 US-1 Sebastian, FL 32958 772-589-7777

www.FLColdwellBanker.com

MARKET REPORT

2018 Brevard Beachside 1st Quarter Real Estate Price Point

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

Condos Sold

Current Listings

Month’s Supply

Average Price

Under

2018

82

43

1.6

$194,306

175

120

2.1

$148,678

$250,000

2017

118

45

1.1

$184,708

170

126

2.2

$140,381

Change

-30.5%

-4.4%

37.5%

5.0%

+2.9%

-4.8%

-7.5%

+6.0%

$250,001 to

2018

255

241

2.8

$363,113

80

256

9.6

$352,055

$500,000

2017

185

206

3.3

$351,034

73

177

7.3

$345,066

Change

+37.8%

+17.0%

-15.1%

+3.0%

+9.6%

+44.6%

+32.0%

+2.0%

$500,001 to

2018

59

161

8.2

$653,426

31

101

9.8

$662,255

$1,000,000

2017

53

128

7.2

$671,306

19

94

14.8

$649,132

Change

+11.3%

+25.8%

+13.0%

-3.0%

+63.2%

+7.4%

-34.1%

+2.0%

Over

2018

13

71

16.4

$2,079,423

1

7

21.0

$1,200,100

$1,000,000

2017

15

71

14.2

$1535,587

1

8

24.0

$1,970,000

Change

-13.3%

0.0%

+15.4%

+35.0%

0.0%

-12.5%

-12.5%

-39.0%

2018

409

516

3.8

$425,701

287

484

5.1

$264,505

2017

371

450

3.6

$391,779

263

405

4.6

$240,905

Change

+10.2%

+14.7%

+4.0%

+9.0%

+9.1%

+19.5%

+9.5%

+10.0%

Total

The beachside market in Brevard is a healthy growing real estate market.

Sales for the 1st quarter are up 10% and prices overall are up over 8% from the numbers from a year ago.

The under $500,000 market remains strong for sellers. However with inventory staying close to a 3 month supply, buyers still have some selection unless they are hoping to buy under $250,000. Price increases in the first quarter in this market have been moderate, staying in the 3% to 5% range. This trend of moderate price increases should continue into the 2nd quarter and probably through the end of the year.

The $500,000 to million dollar market is a more balance market. With an 8 month supply of inventory, buyers are negotiating more aggressively and sellers unwilling to price tightly to past sales are finding their homes on

the market for longer periods. As always, quality homes are hotter on the market.

The luxury market in Brevard is the bigger news. While still a very small slice of the number of units sold, sales topping $2 million and even $3 million are becoming more common. Buyers are seeing the value in Brevard over the markets in Indian River, South Florida and Central Florida where prices of luxury homes can be much higher. Buyers seeing the value of the Brevard waterfront will create big potential for the future.

If you would like to find the right price for your home in today’s changing maket, contact us at 321-951-3300 or in Satellite Beach at 321-222-9449.

With eleven offices covering 135 miles of Florida’s East Coast, Coldwell Banker Paradise is the largest full service real estate company in the area.