February Real Estate Market Report for Brevard County Florida
- Closed Sales are down -4% for February 2019 in which the number of units closed was 666 compared to 694 in 2018, with a decrease in cash sales of -7.3% compared to February 2018.
- New Pending Sales are up 2.1% and New Listings are up 2.3%.
- The Median Sales Price for Brevard Single Family homes saw no change and was $230,000 in 2018 and 2019.
- Months Supply of Inventory is up 33.3% to 3.6 months, an increase from 2.7 months in February 2018.
- Traditional Sales are down -4.8%, with a median sales price of $231,000.
- Foreclosure/REO Sales are up 26.3% with 24 sales and a median sales price of $204,250.
- Short Sale Closings are down -25%, with 3 sales and a median sales price of $335,000.
- Closed Sales are down -5.8% for February 2019 in which the number of units closed was 212 compared to 225 in 2018, with a decrease in cash sales of -21.7% compared to February 2018.
- New Pending Sales are down -13.3% and New Listings are down -9.6%.
- Median Sales Price for Townhomes/Condos is up 10.9% to $173,500 compared to a year ago, which was $156,500.
- Months Supply of Inventory is up 13.5% to 4.2 months in February 2019 from 3.7 months in February 2018.
- Traditional Sales are down -4.6%, with a median sales price of $173,000.
- Foreclosure/REO Sales are down -25% with 3 sales and a median sales price of $240,000.
- Short Sale Closings are down -100% with no sales in February 2019.
Today interest rates were below 4%. Read the article about how interest rates affect your purchasing power if you are thinking about buying.
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If you are thinking of selling, what are you waiting for? The market is not going to crash but interest rates and other key indicators affect when and how much you will sell for. For an interesting article read:
Now is a great time to buy due to the interest rates. Fortunately we are getting more inventory but things are still selling quickly.
It is rare to say it is a good time to buy and a good time to sell but that is the case at this time. Prices are still increasing. If you've been waiting for them to shoot up they might continue increase but it is going to be at a much slower rate than previous years. Why wait?