Brevard Mainland 1st Quarter Market Report - 2018

Brevard Mainland

RECENTLY SOLD

SOLD $715,000 340 Bay Point Drive

SOLD $425,000 545 Spring Lake Drive

SOLD $380,000 3811 Funston Circle

www.FLColdwellBanker.com

SOLD $530,000

SOLD $505,000

697 Nicklaus Drive

708 Nicklaus Drive

SOLD $425,000

SOLD $392,000

4409 Heaton Park Trail

3862 Peacock Drive

SOLD $373,000 5239 Wexford Drive

SOLD $305,000 1735 Curlew Court

Homes selling fast!

Call to see how much your home is worth!

321-951-3300 SOLD $305,000 328 Deer Run Road

SOLD $280,000 315 Pinto Lane

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

2018 Brevard Mainland 1st Quarter Real Estate

MARKET REPORT

Price Point

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

Condos Sold

Current Listings

Month’s Supply

Average Price

Under

2018

883

595

2.0

$174,286

158

125

2.4

$111,259

$250,000

2017

964

506

1.6

$162,811

123

83

2.0

$102,838

Change

-8.4%

+17.6%

+28.4%

+7.0%

+28.5%

+50.6%

+17.2%

+8.0%

$250,001 to

2018

431

554

3.9

$329,230

9

29

9.7

$366,111

$500,000

2017

376

421

3.4

$326,339

5

12

7.2

$384,500

Change

+14.6%

+31.6%

+14.8%

+1.0%

+80.0%

+141.7%

+34.3%

-5.0%

$500,001 to

2018

57

176

9.3

$630,908

2

4

6.0

$625,000

$1,000,000

2017

39

141

10.8

$636,169

2

6

9.0

$556,250

Change

+46.2%

+24.8%

-14.6%

-1.0%

0.0%

-33.3%

-33.3%

+12.0%

Over

2018

7

22

9.4

$1,224,286

0

1

-

-

$1,000,000

2017

6

24

12.0

$1,114,500

0

1

-

-

Change

+16.7%

-8.3%

-21.4%

+10.0%

-

0.0%

-

-

2018

1378

1347

2.9

$246,970

169

159

2.8

$130,911

2017

1385

1092

2.4

$224,657

130

102

2.4

$120,647

Change

-0.5%

+23.4%

+24.0%

+10.0%

-0.5%

+23.4%

+24.0%

+10.0%

Total

With a healthy and rapidly growing jobs market, Brevard is a very strong

of potential buyers ability to pay more. Prices probably will slow to single

housing market. The average sale price has increased to about $250,000,

digit increases, while buyers payments will still see double digit increases.

up 10% from a year ago.

Oddly enough, the rising interest rates have put time pressure on buyers and sellers to act quickly. With each increase in the interest rates, sellers will

Homes under $250,000 are in a sellers market. Buyers need to act quickly

see more of their potential sale price going to the mortgage increase, and

to find deals in this market segment. The inventory is currently about a 9

buyer will still be dealing with a tight inventory and demand pressure from

week supply of homes. Homes priced between $250,000 and $500,00 also

sellers and the lenders.

are in under supply, however with a 3.9 month inventory of homes on the market buyers have a good selection.

If you would like to find the best value for a home you are buying or selling in today’s changing maket, contact us at 321-951-3300. With eleven offices

In all market segments, sellers would seem to be in control with inventory

covering 135 miles of Florida’s East Coast, Coldwell Banker Paradise is the

stretched thin. However, increasing interest rates will eat up a big chunk

largest full service real estate company in the area.