Is It Real Estate As Usual? Slow in the Holiday Months- November-December and Picks Up in the January or Are We in for Changes? Brevard County Real Estate Market Update Ending November 2018

A quick recap of the Brevard County Residential Report for November 2018:
  • Closed Sales are down -9.2% for November 2018 in which the number of units closed was 683 compared to 752 in November 2017, with a decrease in cash sales of -17.1% compared to November 2017.
  • New Pending Sales are down -14.7% and New Listings are up 1.9%.
  • The Median Sales Price for Brevard Single Family homes is up 3.3% to $225,295 compared to a year ago, which was $218,000.
  • Months Supply of Inventory is up 25% to 3.5 months, an increase from 2.8 months in 2017.
  • Traditional Sales are down -7.9%, with a median sales price of $230,000.
  • Foreclosure/REO Sales are down -30%, with a median sales price of $145,000.
  • Short Sale Closings are down -75%, with a median sales price of $300,000. 
A quick recap of the Brevard County Townhouses/Condos for November 2018:
  • Closed Sales are down -1.5% for November 2018 in which the number of units closed was 192 compared to 195 in November 2017, with a decrease in cash sales of -11.9% compared to November 2017.
  • New Pending Sales are down -15.8% and New Listings are up 8.6%.
  • Median Sales Price for Townhomes/Condos is up 3.3% to $165,250 compared to a year ago, which was $160,000.
  • Months Supply of Inventory increased to 3.8 months in November 2018 from 3.4 months in November 2017.
  • Traditional Sales are down -0.5%, with a median sales price of $174,940.
  • Foreclosure/REO Sales were down -11.1% with a median sales price of $87,000. 
  • Short Sale Closings are down -50% with a median sales price of $128,000 in November 2018.

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