Posted by: Sandy Shores, Broker-Associate | 01/26/2013

Market Report–Brevard County FL Real Estate – 2012

Brevard County FL Real Estate, including single family residential, condo, and townhouses:

Statistics through the Melbourne Association of Realtors December 2012 are as follows:Market Report - Brevard County FL Real Estate by Sandy Shores Broker Associate Melbourne FL

There were 618 new listings.

There were 425 sold listings.

Average sales price was $167,933.

Average days on the market were 113.

For single family residential units only:

There were 418 new listings.

This is an increase of .97% from December 2011 of new listings.

There were 320 sold listings.

This is an increase of 4.38% from December 2011 of 320 sold listings.

The average sales price in December 2012 was $167,083.

This is an increase of 19.02% from December 2011 of $140,386.

Average days on the market were 86, a decrease of 18.10% from December 2011 of 105 days.

2012 Year End figures are as follows:

There were 10,198 new listings in 2012 through the Melbourne Association of Realtors. This is an increase of 10.62% from the 9219 new listings in 2011.

There were 5,755 sold listings in 2012 through the Melbourne Association of Realtors. This is an increase of 12.93% from the 5,096 sold listings in 2011.

In Brevard County FL there were a total of 9803 properties sold. 6014 of these were standard sales. 2156 were short sales. And, 1614 were foreclosures or HUD homes.

The average sales price in 2012 for single family homes was $154,471, an increase of 6.05%, from $145,660.

Condos increased in value by a whooping 21.25% from $124,115 in 2011 to $150,487 in 2012.

Days on the market for single family homes decreased by 23.14% from 2011 at 121 to 2012 at 93.

Days on the market for condos decreased by 29.46% from 129 in 2011 to 91 in 2012.

Source: Melbourne Association of Realtors

Average sales prices have shown an increase of 6.05% for single famlly homes and a huge 21.25% in condos from 2011 to 2012.

In some areas, in some price points, the inventory of properties for sale is down by 50% to 60%. So, many lower priced houses are in multiple offer situations. Houses are selling before the signs even get planted in the front yard.

We are finding that clean, well priced properties are still moving off the market quickly. 178 of the properties sold in de December sold within the first 30 days on the market. This is a great reminder that a well priced property will move off of the market quickly.

We are still finding a large percentage of investors in the market, scooping up properties, in multiple offer situations. Cash still appears to be king in purchasing properties. 212 buyers paid cash and 123 purchased with conventional mortgages in December 2012.

It’s funny, but lately, we haven’t heard much talk about the "shadow inventory" of foreclosed homes that have yet to hit the market. When are those coming and what effect will they have on prices?

Condo sale prices have increased by 21.25%. That’s great news, when so many lenders are unable to finance some condos. Our second/vacation home market is still moving along briskly. Brevard County is still a favorite destination for those buyers moving south, or just looking for a vacation home, because our great weather, the Indian and Banana rivers and the beautiful sandy beaches.

Search Brevard County Real Estate
Melbourne FL Real Estate, Sandy Shores, Realtor

Sandy Shores, Broker Associate, Brevard County FL Real Estate

Sandy Shores, Melbourne FL Broker-Associate

M & M Real Estate, Inc.

Residential, Investment and Relocations

We have a team of professionals to facilitate your Short Sale.

Melbourne Real Estate / Palm Bay Real Estate

321-253-4545 or 321-733-6080

www.SandyShoresMelbourne.com

Email me at SandyShoresMelbourne@hotmail.com

Subscribe to my blog

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Serving Brevard County Florida for 16 Years

Brevard County Resident for 37 Years

Melbourne, Palm Bay, Suntree, Viera, Rockledge,

Cocoa, Canaveral Groves, Merritt Island, Titusville, Mims,

Melbourne Beach, Indialantic, Indian Harbour Beach,

Satellite Beach, Cocoa Beach, Cape Canaveral

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